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

Sky-high prices for Oasis concert tickets dishearten fans; government to examine fluctuating pricing strategies

"Time to look back in anger," posted an Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024 12:44

The government has committed to investigating the practice of dynamic ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during their sale.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that surge pricing would be examined in a government evaluation of the secondary market for concert ticket sales.

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

After enduring the long lines and extended delays, numerous individuals were confronted with ticket costs significantly exceeding their original value.

On social media, frustration mounted among users when tickets initially priced at £148 surged to £355 on Ticketmaster shortly after going on sale, a spike attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy declared that the government would examine these matters and the technology behind queueing systems that encourage them in a forthcoming consultation.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's reunion, it's disheartening to witness the excessively high ticket prices, which prevent average fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans as the core focus of the music industry."

"In our upcoming discussion on consumer protection measures for ticket resales, we will address concerns regarding the transparency and application of dynamic pricing, as well as the technology supporting queuing systems that encourage this practice."

"By collaborating with artists, the industry, and concertgoers, we can establish a more equitable framework that eliminates the problems of scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for everyone."

What is dynamic pricing?

This system, which adjusts prices based on demand, was launched by Ticketmaster in 2022.

The measure was implemented to prevent scalping and to direct a greater share of profits towards the artists.

Basically, when many people want to buy tickets and there aren't many available, the price tends to increase.

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

Ticketmaster's website explains that the prices of its "Platinum" tickets fluctuate based on the principles of supply and demand.

The purpose of the dynamic pricing system is to ensure that tickets are accessible to fans 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 it is the artists, along with their management and event organizers, who determine the prices and decide if dynamic pricing will be applied to their events.

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Cabinet member Lucy Powell experienced the effects of dynamic pricing this past Saturday, ultimately paying over twice the initially quoted price for a ticket to an Oasis concert.

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 through resale platforms, and we have initiated measures against prominent ticketing sites to enforce compliance with consumer protection laws.

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

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

Dynamic pricing extends to various sectors beyond music, notably in the travel industry where it is commonly applied to hotel accommodations and flight fares.

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Jack Antonoff, known for his frequent collaborations 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 sales.

Requests for comment have been made to Ticketmaster.

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