Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Demand Fairness

Sky-high Oasis reunion tour ticket prices prompt dismay; government to scrutinize variable pricing models

"Looking back in anger," posted an Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited tour.

Monday, September 2, 2024, 12:

Officials have pledged to investigate the practice of variable ticket pricing following reports that prices for the Oasis reunion tour tickets surged to over twice their initial cost during the sale period.

Culture Secretary Lisa Nandy expressed her disappointment over the exorbitant prices of Oasis concert tickets, labeling the situation as "depressing." She announced that surge pricing will be examined in the government's upcoming evaluation of the secondary market for concert ticket sales.

On Saturday, enthusiasts of the globally recognized group endured long waits in online lines, eager to secure tickets for one of next year’s comeback concerts.

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

Many took to social media to voice their frustration after tickets initially priced at £148 were listed for £355 on Ticketmaster shortly after going on sale, a consequence of the platform's dynamic pricing model.

Over the weekend, Ms. Nandy stated that in a forthcoming government consultation, they would examine these problems along with the "technology behind queue systems that encourage them."

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

"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 application of dynamic pricing, as well as the technology behind queueing systems that encourage its use."

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

What is dynamic pricing?

This pricing strategy, which varies based on consumer demand, was launched by Ticketmaster in 2022.

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

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

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

On its official site, Ticketmaster defines its "Platinum" tickets as those whose prices fluctuate based on market demand and availability.

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 set prices that more accurately reflect the market value of the tickets.

The firm asserts that it is the artists, along with their management and promoters, who determine the prices and decide if dynamic pricing should 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 review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets on the secondary market. We have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards for consumers are essential, so 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 both fans and businesses that play by the rules."

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The news followed Noel and Liam Gallagher's announcement last Tuesday that the band would finally be getting back together.

Dynamic pricing is widely utilized in various sectors, not just in music, but also extensively in the travel industry, particularly for hotel accommodations and flights.

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Longtime collaborator with Taylor Swift, Jack Antonoff, has previously expressed concerns regarding dynamic pricing.

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

Attempts to reach Ticketmaster for a response have been made.

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