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

Sky-high Oasis concert ticket prices called 'disheartening' – officials vow to examine fluctuating pricing methods

"Time to reflect on our frustration," posted a fan of Oasis on social media, expressing dismay over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

The authorities have pledged to investigate fluctuations in ticket pricing following a significant increase in the prices for the Oasis reunion tour tickets during the sales period.

Culture Secretary Lisa Nandy labeled the sale of overpriced Oasis concert tickets as "depressing," indicating that surge pricing will be examined in the government's upcoming review of the secondary ticket market for live events.

On Saturday, enthusiasts of the globally renowned music group spent hours in digital lines, eager to secure tickets for one of next year's comeback concerts.

After enduring long lines and considerable delays, numerous attendees were confronted with ticket costs significantly exceeding their original price.

Many voiced their frustration online after seeing tickets originally priced at £148 being resold for £355 on Ticketmaster shortly after they were made available, a result of the dynamic pricing models employed.

During her weekend address, Ms. Nandy revealed plans for an imminent government consultation to investigate these problems and the technology behind queuing systems that promote them.

She expressed disappointment, stating: "With Oasis announcing their comeback, it's disheartening to witness such exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans as the core of 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 technological aspects of queueing systems that encourage its use.

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the blight of scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for all."

What does dynamic pricing mean?

This approach, which adjusts prices based on demand, was launched by Ticketmaster in 2022.

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

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

In response to the frustration surrounding the cost of Oasis's tickets, the company clarified that they do not determine ticket prices and provided a link to a website explaining that prices may be "set or subject to market fluctuations."

Ticketmaster's official website explains that the prices of "Platinum" tickets fluctuate based on market dynamics of supply and demand.

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 are more aligned with the 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 implemented for 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 review.

A representative stated: "It's important to us that fans receive reasonable treatment when purchasing tickets through resale channels. We have taken measures against prominent ticket reselling platforms to enforce compliance with consumer protection laws."

"We believe additional safeguards are necessary for consumers, and it's encouraging that the government is willing 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 follows last Tuesday's announcement by Noel and Liam Gallagher that the much-anticipated reunion of the band is set to take place.

Dynamic pricing is not unique to the music sector; it is also widely utilized in the travel industry, particularly for hotel accommodations and airline fares.

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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 he wished 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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