Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Decry ‘Depressing’ Surge Costs

Sky-high Oasis reunion tour ticket prices deemed 'disheartening' – officials pledge to examine variable pricing methods

"Time to revisit our grievances," posted an Oasis enthusiast online, expressing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, at 12

Officials have pledged to investigate the practice of variable ticket pricing following a sharp increase in prices for the Oasis reunion tour tickets during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that surge pricing will be examined in the government's upcoming evaluation 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 next year's highly anticipated reunion concerts.

Once they endured the long lines and significant delays, numerous individuals encountered ticket costs that significantly exceeded the original prices.

Many voiced their frustration online after tickets initially priced at £148 appeared for £355 on Ticketmaster shortly after going on sale, a result of the platform's dynamic pricing strategy.

Over the weekend, Ms. Nandy stated that the government would examine these problems and the technology related to queuing systems that encourage them in a forthcoming consultation.

She commented, "It's disheartening that following the exciting announcement of Oasis's reunion, exorbitant ticket prices are preventing average fans from experiencing their favorite band in concert."

"The administration is dedicated to recentering fans at the core of the music experience."

"In our upcoming discussion on consumer protection measures for ticket reselling, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technologies that support queuing mechanisms that encourage this practice."

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

What exactly is dynamic pricing?

This pricing strategy, which adjusts prices based on demand, was rolled out by Ticketmaster in 2022.

The measure was introduced to prevent scalping and to make sure that a greater portion of the proceeds benefits the artists.

Fundamentally, 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 it does not determine ticket pricing and provided a link to a website explaining that prices could be "set or subject to market fluctuations."

On its official site, Ticketmaster defines its "Platinum" tickets as those priced based on the principles of supply and demand.

The purpose of the dynamic pricing system is to ensure fans can purchase tickets fairly and safely, while allowing artists and those involved in producing live events to set ticket prices that better reflect their actual market value.

The firm asserts that it is the artists, their management, and event organizers who determine the prices and decide if dynamic pricing will be implemented for their events.

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Cabinet member Lucy Powell was affected by surge pricing last Saturday, ending up paying over twice the initially stated price 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 on the secondary market, and we have taken steps against prominent resale platforms to make sure they comply with consumer protection laws.

"We believe that 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 the most favorable results for supporters and ethical companies."

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The news followed an announcement last Tuesday by Noel and Liam Gallagher that the band is set to reunite after a long hiatus.

Dynamic pricing is widely adopted in sectors other than music, particularly prevalent in the travel industry for hotel accommodations and flight reservations.

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

He informed Stereogum of his desire for artists to have the option to withdraw from the system and set their own prices for sales.

Efforts have been made to contact Ticketmaster for a statement.

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