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

Sky-high Oasis concert ticket prices spark dismay, prompting government to reevaluate fluctuating pricing strategies

"Time to revisit our frustration," commented an Oasis enthusiast on social media, reflecting widespread displeasure over the ticketing process for the much-awaited reunion tour.

Monday, September 2, 2024, 12:

The government has committed to investigating 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 dynamic pricing would be part of a government examination of the resale market for live 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 highly anticipated comeback concerts.

Nevertheless, after enduring long lines and extended delays, numerous attendees found themselves facing ticket costs significantly above the original price.

Many voiced their frustration online after observing that tickets initially priced at £148 were being resold for £355 on Ticketmaster shortly after they were released, a result of the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy declared that in a forthcoming government consultation, they will examine issues including the technology that supports queuing systems and encourages their use.

She expressed disappointment, stating: "With the thrilling announcement of Oasis's reunion, it's disheartening to witness the exorbitant ticket prices preventing regular fans from experiencing their beloved band in concert."

"The administration is dedicated to re-centering 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 technologies supporting queue systems that encourage this practice."

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

What does dynamic pricing mean?

This system, which adjusts prices according to demand, was launched by Ticketmaster in 2022.

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

Basically, when many people want tickets and there aren't enough available, the prices tend to increase.

In response to the uproar concerning the cost of Oasis's tickets, the company clarified that they do not determine pricing, directing attention to a website explaining that prices might be set at a fixed rate or subject to market fluctuations.

Ticketmaster's official site explains that its "Platinum" tickets are priced based on fluctuating market demand and availability.

The dynamic pricing system aims to "provide fans with fair and secure ticket availability, while allowing artists and event organizers to set prices that more accurately reflect the market value of the tickets."

The company states that it is the artists, along with their management teams 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 was impacted by surge pricing this past Saturday, ultimately paying over twice the initially stated 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 aim is for supporters to receive equitable treatment when purchasing tickets from secondary outlets, and we have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws."

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

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The announcement of the band's much-anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is also prevalent in sectors other than music, particularly in the travel industry, where it is often applied to hotel accommodations and flight fares.

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Jack Antonoff, known for his frequent collaborations with Taylor Swift, has previously expressed concerns about dynamic pricing.

He explained to Stereogum that he believes artists should have the option to exit the system and set their own prices for their work.

Efforts have been made to contact Ticketmaster for a response.

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