Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans Demand Fair Play in Music Industry

Sky-high Oasis tour ticket costs labeled 'disheartening' – officials pledge to reassess fluctuating pricing models

"Time to reflect on our frustration," commented a fan of Oasis on social media, voicing dismay over the ticketing process for the eagerly awaited comeback 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 skyrocketed during the sales period.

Culture Secretary Lisa Nandy expressed disappointment over the exorbitant prices of Oasis concert tickets, mentioning that dynamic pricing will be considered in a governmental evaluation of the resale market for event tickets.

On Saturday, devotees of the globally renowned music group spent hours in online lines, eager to secure tickets for next year's highly anticipated reunion concerts.

After enduring long lines and extended delays, numerous individuals encountered ticket costs significantly above the original price.

Many voiced their frustration online after seeing tickets initially priced at £148 being resold for £355 on Ticketmaster shortly after they went on sale, attributing the price hike to the platform's dynamic pricing strategies.

During her weekend address, Ms. Nandy revealed plans for a forthcoming government consultation to examine specific issues, including the technology that supports and encourages queuing systems.

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

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

In our upcoming consultation on consumer protections for ticket resales, we plan to address matters related to the transparency and application of dynamic pricing, as well as the technologies that support queuing systems which encourage such pricing strategies.

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

What does dynamic pricing mean?

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

The measure was introduced to prevent scalping and to direct more funds towards the performers.

In essence, when ticket demand is high and supply is scarce, prices tend to increase.

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

Ticketmaster's website explains that the prices of its "Platinum" tickets are dynamically adjusted based on the principles of supply and demand.

The text states that the purpose of the dynamic pricing system is to ensure that fans can purchase tickets fairly and securely, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm states that it is the artists, along with their management and promoters, who determine the prices and decide if dynamic pricing will be applied to their events.

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Cabinet member Lucy Powell was affected by 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 review.

A representative stated, "It's important to us that fans receive equitable treatment when purchasing tickets from secondary outlets. We have already initiated measures against prominent ticket reselling platforms to enforce compliance with consumer protection laws."

"We believe that consumers require additional safeguards, 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 follows last Tuesday's announcement by Noel and Liam Gallagher that the band is set to reunite after a long hiatus.

Dynamic pricing is also widely adopted in other sectors, notably in the travel industry, where it is often applied to 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 explained to Stereogum that he envisions a system where artists have the freedom to opt out and set their own prices for their work.

Attempts have been made to reach Ticketmaster for a statement.

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