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

Sky-high Oasis concert ticket prices labeled 'disheartening' – officials pledge to examine fluctuating pricing policies

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

Monday, September 2, 2024, 12:

The authorities have committed to investigating variable 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," announcing that surge pricing would be examined in the government's review 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.

After enduring long lines and significant delays, numerous individuals encountered ticket costs that greatly exceeded the original price.

Many voiced their frustration on social media after 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 models.

Over the weekend, Ms. Nandy stated that the government would examine these concerns and the technology that promotes queuing systems in a forthcoming consultation.

She commented, "Following the exciting announcement of Oasis's reunion, it's disheartening to observe the exorbitant ticket prices preventing average 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 and application of dynamic pricing, as well as the technologies that support queuing systems which encourage such pricing strategies.

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

What does dynamic pricing mean?

This strategy, which adjusts prices according to demand, was implemented by Ticketmaster in 2022.

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

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

In response to the uproar regarding the cost of Oasis's tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices could be "set or fluctuating based on the market."

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

The aim of the dynamic pricing system, according to the statement, is to ensure that tickets are accessible to fans in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The corporation states that the decision on pricing and the use of dynamic pricing for their events is determined by the artists, their management, and the event promoters.

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On Saturday, government minister Lucy Powell was affected by dynamic pricing, ultimately paying over twice the initial price quoted for a ticket to an Oasis concert.

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 from secondary markets, and we have already initiated measures against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe 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 optimal results for supporters and businesses that play by the rules."

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The news followed after Noel and Liam Gallagher announced last Tuesday that their band would finally be getting back together.

Dynamic pricing is prevalent in various sectors, not just music, and is often utilized in the travel industry, particularly for hotel accommodations and flights.

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Jack Antonoff, a regular collaborator with Taylor Swift, has expressed concerns about dynamic pricing in the past.

He explained to Stereogum that his goal was for artists to have the option to exit the system and set their own prices for their work.

Ticketmaster has been contacted for a response.

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