Politics
Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Call for Fairness in Music Ticket Sales
Sky-high costs for Oasis concert tickets have left fans disheartened; officials vow to examine fluctuating pricing strategies
"Time to revisit our frustration," commented a fan of Oasis on social media, expressing discontent with the ticketing process for the eagerly awaited comeback tour.
Monday, September 2, 2024, 12:
The government has pledged to investigate the practice of variable ticket pricing following a surge in prices for the Oasis reunion tour, where ticket costs more than doubled during the sale period.
Culture Secretary Lisa Nandy labeled the high prices of Oasis tickets on the secondary market as "depressing," announcing that surge pricing will be examined in a government review of the resale of 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 confronted with ticket costs that greatly exceeded their original price.
Many voiced their frustration online after tickets initially priced at £148 were listed for £355 on Ticketmaster shortly after going on sale, a result of the dynamic pricing strategies employed.
During a weekend address, Ms. Nandy declared that the government plans to review problems including the technology that supports queuing systems and encourages their use, in a forthcoming consultation.
She expressed disappointment, stating, "Following the exhilarating announcement of Oasis's reunion, it's disheartening to witness the exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."
"This administration is dedicated to recentering fans at 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 of dynamic pricing and the technologies that support queuing systems which encourage this practice."
"By collaborating with artists, the industry, and audiences, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced resales, guaranteeing fairly priced tickets."
What does dynamic pricing mean?
This system, which adjusts prices based on demand, was rolled out by Ticketmaster in 2022.
The measure was implemented to prevent scalping and to increase the revenue directed towards the artists.
When demand for tickets is high and supply is limited, prices tend to increase.
In response to the uproar concerning the cost of Oasis tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices may be either "fixed or subject to market fluctuations."
On its official site, Ticketmaster explains its "Platinum" tickets as those priced based on fluctuations in market supply and demand.
The dynamic pricing system aims to ensure that fans can purchase tickets securely and at reasonable rates, while also allowing artists and event organizers to set prices that more accurately reflect the market value of the tickets.
The firm states that it is the artists, along with their management and promoters, who determine the pricing and decide if dynamic pricing will be applied to their events.
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Cabinet member Lucy Powell was impacted by surge pricing this past Saturday, ultimately paying over twice the initial price quoted for a ticket to see Oasis perform.
The 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 already initiated measures 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 taking steps to tackle this issue. We are eager to collaborate with them to achieve optimal results for supporters and businesses that play by the rules."
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The news followed an announcement last Tuesday from Noel and Liam Gallagher about the highly anticipated reunion of their band.
Dynamic pricing is prevalent in various sectors, notably in the travel industry, where it is widely applied to hotel accommodations and airfare.
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Jack Antonoff, a regular collaborator with Taylor Swift, has previously expressed concerns about dynamic pricing.
He expressed to Stereogum his desire for artists to have the option to exit the system and set their own prices for their work.
Efforts have been made to obtain a response from Ticketmaster.
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