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

Skyrocketing Oasis concert ticket costs labeled 'disheartening' as officials vow to examine fluctuating pricing strategies

"Time to revisit our frustration," commented an Oasis enthusiast on social media, expressing dismay over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The administration has committed to investigating the practice of variable ticket pricing following a surge in prices for the Oasis reunion tour, where tickets saw a significant increase in cost during the sale period.

Culture Secretary Lisa Nandy labeled the sale of overpriced Oasis concert tickets as "depressing" and announced that surge pricing will be examined in a governmental 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 extended delays, numerous attendees were confronted with ticket costs significantly exceeding their original price.

Many voiced their frustration online after observing that tickets, initially priced at £148, were being offered for £355 on Ticketmaster just hours after they went on sale, a surge attributed to the platform's dynamic pricing strategies.

During her weekend address, Ms. Nandy stated that the government plans to review concerns related to queuing systems and the technology that encourages their use in a forthcoming consultation.

She expressed disappointment following the announcement of Oasis's reunion, noting that exorbitant ticket prices were preventing regular fans from attending the concerts and enjoying their beloved band live.

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

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and implementation of dynamic pricing, as well as the technologies behind queuing systems that promote it."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing reasonably 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 increase the revenue that artists receive.

Typically, when ticket demand is high and availability is low, prices tend to increase.

In response to frustration about the cost of Oasis tickets, the company clarified that they do not determine ticket prices and provided a link to a website explaining that prices could be "set or fluctuate based on the market."

On the Ticketmaster website, the company explains that the price of "Platinum" tickets fluctuates based on market conditions.

The text explains that the purpose of the dynamic pricing system is to ensure that fans can obtain tickets fairly and securely, while allowing artists and event organizers to price tickets more in line with their actual market value.

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

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Government official Lucy Powell fell victim to dynamic pricing this past Saturday, ending up paying over twice the initially quoted price for a ticket to see Oasis.

The Competition and Markets Authority (CMA) 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 measures against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe that consumers require additional safeguards, so it's encouraging that the government is keen on tackling 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 announcement of the band's highly anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely utilized in various sectors, not just music, including regularly in the travel industry for hotel accommodations and flights.

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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 wished for artists to have the option to exit the system and set their own prices for sales.

Ticketmaster has been contacted for a response.

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