Politics
Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Call for Fairness in Music Ticketing
Sky-high Oasis concert ticket prices prompt dismay; government to examine variable pricing strategies
"Time to revisit our frustrations," posted an Oasis enthusiast on social media, expressing upset over the ticketing process for the much-awaited comeback tour.
Monday, September 2, 2024, 12:
The administration has vowed to investigate fluctuating ticket prices following reports that fares for the Oasis reunion tour surged by over 100% during the sales period.
Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that surge pricing would be addressed in the government's examination of the secondary market for concert ticket sales.
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.
Yet, after enduring both lines and extended delays, numerous attendees encountered ticket costs significantly exceeding their original prices.
Many voiced their frustration online after tickets, originally priced at £148, skyrocketed to £355 on Ticketmaster shortly after they went on sale, a result of the dynamic pricing models employed.
Over the weekend, Ms. Nandy stated that the government would explore concerns including the technology that encourages queue systems in a forthcoming consultation.
She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness excessively high ticket prices preventing regular fans from experiencing their beloved band in concert."
"This administration is dedicated to recentering fans in the music experience."
"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology behind queuing systems that encourage it."
"By collaborating with artists, the industry, and concertgoers, we can establish a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing fairly priced tickets for everyone."
What does dynamic pricing mean?
This system, which adjusts prices based on demand, was rolled out by Ticketmaster in 2022.
The measure was introduced to prevent scalping and to direct more profits towards the performers.
Basically, when many people want tickets but there are only a few available, the prices tend to increase.
In response to the frustration regarding the cost of Oasis tickets, the organization clarified that they do not determine the ticket prices and provided a link to a website explaining that prices could be either "fixed or influenced by the market".
On its official site, Ticketmaster defines its "Platinum" tickets as those whose prices fluctuate based on supply and demand.
The text explains that the purpose of the dynamic pricing system is to ensure that fans can purchase tickets in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their actual market value.
The firm states that it is the artists, their management, and event organizers who determine the prices and decide if dynamic pricing will be applied to their events.
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On Saturday, government minister Lucy Powell was affected by surge pricing, ultimately paying over twice the initially quoted price for a ticket to see Oasis perform.
The Competition and Markets Authority (CMA) supported the announcement of the government's review.
A representative stated: "It's important to us that fans receive equitable treatment when purchasing tickets from secondary platforms, and we have already intervened with prominent reselling sites to enforce compliance 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 the most favorable results for supporters and businesses that play by the rules."
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The news followed Noel and Liam Gallagher announcing last Tuesday that the band would finally be getting back together.
Dynamic pricing is widely implemented 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, a regular collaborator 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 sales.
Efforts have been made to reach Ticketmaster for a response.
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