Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Demand Fairness in the Music Industry

Sky-high ticket costs for Oasis reunion tour leave fans disheartened; government to scrutinize variable pricing methods

"Looks like it's time to look back in anger," commented a disappointed Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The administration has committed to investigating the practice of flexible ticket pricing following a significant increase in prices for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy expressed disappointment over the high prices of Oasis concert tickets, noting that the issue of surge pricing will be addressed in a government examination of the secondary market for event 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 the long lines and wait times, numerous attendees found that the ticket prices significantly exceeded their original cost.

Many took to social media to voice their frustration after tickets originally priced at £148 were being resold for £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing strategies.

During a weekend statement, Ms. Nandy revealed that the government plans to review problems related to queuing systems and the technology that encourages them in a forthcoming consultation.

She expressed her disappointment, stating, "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the soaring ticket prices that prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering enthusiasts at the core of the music scene."

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns regarding the clarity and application of variable pricing strategies, as well as the technologies that support queuing mechanisms which promote such pricing."

"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, guaranteeing fairly priced tickets."

What is dynamic pricing?

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

It was implemented to prevent scalping and to direct a greater share of profits to the artists.

Fundamentally, when tickets are in high demand and the availability is low, prices tend to increase.

In response to frustration about the cost of Oasis's tickets, the organization clarified that they do not determine ticket pricing and provided a link to a site explaining that prices may be "set or influenced by the market."

On its official site, Ticketmaster explains that the prices of its "Platinum" tickets fluctuate based on market demand and availability.

The objective 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 market value.

The company states that it is the artists, their management, and event promoters 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 impact 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 the secondary market, and we have already initiated measures against prominent resale platforms to make certain that they comply with consumer protection laws.

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

Dynamic pricing is widely used in various sectors, not just in music. It is particularly prevalent in the travel industry, where prices for hotel accommodations and airline seats often fluctuate.

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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 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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