Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Call for Fairness in Live Music Ticketing

Skyrocketing costs for Oasis concert tickets dismay fans; officials vow to examine fluctuating pricing strategies

"Looks like it's time to 'Look Back in Anger,'" commented a fan on social media, expressing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has committed to investigating fluctuating ticket prices following a significant increase in the cost of tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," noting that the issue of surge pricing will be addressed in a government examination of the resale market for concert tickets.

On Saturday, devotees of the globally renowned musical group spent hours in digital lines, eager to secure tickets for one of next year's highly anticipated comeback concerts.

Yet, after enduring long lines and significant delays, numerous individuals encountered ticket costs that substantially exceeded their original price.

Outrage spread across social media after tickets, initially priced at £148, surged to £355 on Ticketmaster in just a few hours, a spike attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government would explore these matters and the related technology that promotes queuing systems in a forthcoming consultation.

She expressed her disappointment by saying, "It's disheartening to learn that exorbitant ticket prices are preventing regular fans from seeing Oasis perform live, especially following the exciting announcement of their reunion."

"The administration is dedicated to recentering fans at the core of the music experience."

"In our upcoming consultation on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technologies involved in queuing systems that encourage such pricing strategies."

"By collaborating with artists, the industry, and concert-goers, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, ensuring that tickets are sold at reasonable prices."

What is dynamic pricing?

Introduced by Ticketmaster in 2022, this system adjusts prices based on demand.

It was implemented to prevent scalping and to increase the revenue going directly to the artists.

When tickets are in high demand and the supply is limited, prices tend to increase.

In response to frustration regarding the cost of Oasis's tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices may be "set or subject to market fluctuations."

On its official website, Ticketmaster defines its "Platinum" tickets as those priced based on the principles of supply and demand.

The purpose of the dynamic pricing system, according to the statement, is to ensure that fans can purchase tickets fairly and securely, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The company states that it is the artists, their management, and the event promoters who determine the prices and decide if dynamic pricing will be implemented for their events.

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On Saturday, Government Minister Lucy Powell was affected by dynamic pricing and ended up paying over twice the initial quoted price for a ticket to see Oasis.

The Competition and Markets Authority (CMA) supported the announcement of the government's evaluation.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets on the secondary market, and we have already taken steps to challenge major resale platforms to comply with consumer protection laws.

"We believe that additional safeguards for consumers are essential, and it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to achieve optimal results for both fans and businesses that play by the rules."

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The news followed an announcement last Tuesday by Noel and Liam Gallagher about the much-anticipated reunion of their band.

Dynamic pricing is widely employed across various sectors, notably in the travel industry, where it is commonly applied to hotel accommodations and flight fares.

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Jack Antonoff, known for often working with Taylor Swift, has previously expressed concerns about dynamic pricing.

He explained to Stereogum that he desired for artists to have the option to exit the system and set their own prices for sales.

Efforts have been made to reach Ticketmaster for a statement.

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