Government to Review Dynamic Pricing After Oasis Ticket Outrage, Pledges Fairer Access for Fans

Sky-high Oasis concert ticket prices cause dismay; government to examine variable pricing methods

"Time to revisit our frustration," commented an Oasis enthusiast on social media, expressing discontent over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has vowed to investigate the practice of dynamic ticket pricing following a surge in ticket prices for the Oasis reunion tour, which saw costs more than double during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in the government's evaluation of the secondary market for concert ticket sales.

On Saturday, enthusiasts of the globally renowned music group spent hours in online lines, eager to secure tickets for one of the upcoming reunion concerts next year.

Upon clearing both lines and enduring the long delays, numerous individuals encountered ticket costs significantly above the original price.

People took to social media to voice their frustration after tickets originally priced at £148 were listed for £355 on Ticketmaster just hours after they went on sale, a surge attributed to the platform's dynamic pricing strategy.

Over the weekend, Ms. Nandy stated that the government would examine these concerns and the technology that promotes queuing systems in a forthcoming consultation.

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

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

"In our upcoming discussion 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 technologies supporting queue systems that promote such pricing strategies."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problems of scalpers and overpriced resale tickets, ensuring that everyone has access to fairly priced tickets."

What is dynamic pricing?

This pricing strategy, which adjusts prices according to demand, was implemented 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 availability is low, prices tend to increase.

In response to the uproar concerning the cost of tickets for Oasis, the company clarified that they do not determine the pricing, and provided a website link explaining that prices could be either "set or subject to market fluctuations."

On its official site, Ticketmaster characterizes its "Platinum" tickets as ones priced based on fluctuating market demand and availability.

The text explains that the objective of the dynamic pricing system is to ensure that tickets are accessible to fans in a fair and secure manner, while also allowing artists and event organizers to price tickets more accurately according to their real market value.

The firm states that the decision on ticket pricing and the use of dynamic pricing for their events rests with the artists, their management teams, and the event promoters.

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Government official Lucy Powell was affected by dynamic pricing this past Saturday, ending up 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 through secondary outlets. We have initiated measures against prominent reselling platforms to enforce compliance with consumer protection laws."

"We believe additional safeguards for consumers are essential, 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 honest businesses."

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The announcement follows Noel and Liam Gallagher revealing last Tuesday that the band is set to reunite after a long hiatus.

Dynamic pricing is widely employed across various sectors, not just music. It is particularly prevalent in the travel industry, where it is often applied to pricing hotel accommodations and airline fares.

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Jack Antonoff, known for frequently working with Taylor Swift, has expressed concerns about dynamic pricing in the past.

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

Efforts have been made to contact Ticketmaster for a statement.

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