Government to Review Dynamic Pricing After Oasis Ticket Outrage, Fans Demand Fair Play

Sky-high prices for Oasis reunion tour tickets have left fans disheartened, prompting government assurances of a review into variable pricing practices. "It's a moment to reflect on our frustration," commented a fan on social media, expressing discontent with the ticketing process for the much-awaited tour.

Monday, September 2, 2024, 12:

The administration has committed to investigating the practice of variable ticket pricing following a significant 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," announcing that surge pricing will be considered in a government examination 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.

Once they endured the lengthy lines and waits, numerous individuals encountered ticket costs significantly exceeding the original price.

Many voiced their frustration online after tickets, originally priced at £148, were listed for £355 on Ticketmaster shortly after going on sale, a spike attributed to the platform's dynamic pricing mechanisms.

During her weekend address, Ms. Nandy declared that the government would soon be examining these concerns and the technology that promotes queuing systems in a forthcoming consultation.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices preventing average fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering music around its fans."

In our upcoming review on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and implementation of dynamic pricing, as well as the technology behind queuing systems that promote it.

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

What does dynamic pricing mean?

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

The measure was implemented to prevent scalping and to increase the financial benefits for artists.

Basically, when many people want tickets but there aren't many available, the prices tend to rise.

In response to frustration about the cost of Oasis's tickets, the company clarified that it does not determine pricing 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 its "Platinum" tickets are variable, fluctuating based on market demand and availability.

The purpose of the dynamic pricing system is described as ensuring that fans can obtain tickets fairly and securely, while 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 the 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 encountered surge pricing this past Saturday, ultimately paying over twice the initially quoted price for a ticket to see Oasis perform.

The Competition and Markets Authority (CMA) supported the announcement of the government's evaluation.

A representative stated: "Our goal is for fans to receive reasonable prices when purchasing tickets on the secondary market, and we have already intervened with key resale platforms to guarantee compliance with consumer protection laws."

"However, 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 the most favorable results for both fans and businesses that play by the rules."

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The news follows the announcement made last Tuesday by Noel and Liam Gallagher about the much-anticipated reunion of their band.

Dynamic pricing is widely adopted in various sectors besides music, particularly prevalent in the travel industry for hotel accommodations and flight bookings.

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Jack Antonoff, who often works 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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