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

Sky-high ticket prices for Oasis reunion tour spark outrage; government to examine variable pricing methods

"Looks like it's time to look back in anger," commented a disappointed Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited tour.

Monday, September 2, 2024, 12:

The administration 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" and announced that surge pricing will be examined in the government's review of the secondary market for concert tickets.

On Saturday, enthusiasts of the globally renowned music group spent hours in online lines, eager to secure tickets for one of next year's comeback concerts.

After enduring long lines and significant delays, numerous attendees were greeted with ticket costs that greatly exceeded the original prices.

Outrage spilled over onto social media when tickets originally priced at £148 were listed for £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government plans to review certain matters, including the technology that encourages queuing systems, in a forthcoming consultation.

She expressed disappointment, stating, "With the exhilarating announcement of Oasis's reunion, it’s disheartening to witness the steep rise in ticket prices, which prevents average fans from experiencing their beloved band in concert."

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

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and implementation of dynamic pricing, as well as the technology supporting queue systems that promote it."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problem of scalpers and overpriced resales, guaranteeing that tickets are sold at reasonable prices."

What does dynamic pricing mean?

This strategy, which adjusts prices based on demand, was implemented by Ticketmaster in 2022.

The measure was introduced to curb scalping and direct a greater share of profits to the performers.

When demand for tickets is high and supply is limited, prices tend to increase.

In response to frustrations regarding the cost of Oasis tickets, the company clarified that they do not determine the pricing. They provided a link to a site explaining that prices could be either "set or subject to market fluctuations."

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

The objective of the dynamic pricing system is to ensure that fans can obtain tickets in a fair and secure manner, while also allowing artists and event organizers to set prices that more accurately reflect the market value of the tickets.

The firm asserts that the decision on pricing and the choice to employ dynamic pricing for their events are determined by the artists, their management teams, and the event promoters.

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Cabinet member Lucy Powell was affected by surge pricing last Saturday, ending up paying over twice the initially stated price for a ticket to see Oasis perform.

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

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

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

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The announcement of the band's highly anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely used in sectors beyond the music industry, particularly prevalent in the travel sector for both hotel accommodations and airline fares.

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Jack Antonoff, known for his frequent collaborations with Taylor Swift, has previously expressed concerns about dynamic pricing.

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

Efforts have been made to contact Ticketmaster for a statement.

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