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

Sky-high ticket costs for Oasis concert 'disheartening', government to examine fluctuating pricing strategies

"Time to look back in anger," commented an Oasis enthusiast on social media, expressing frustration over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

The administration has pledged to investigate fluctuating ticket prices following the significant increase in costs for the Oasis reunion tour tickets during their sale.

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

On Saturday, enthusiasts of the globally renowned music group spent hours in online lines, eagerly attempting to secure tickets for one of the band’s comeback concerts scheduled for the following year.

Yet, after enduring long lines and extensive delays, numerous attendees faced ticket costs significantly exceeding their original prices.

Many voiced their frustration online after seeing tickets initially priced at £148 being resold for £355 on Ticketmaster shortly after they went on sale, a result of the dynamic pricing models employed.

During a weekend address, Ms. Nandy revealed plans for a government consultation that will examine these issues and the technology involved in queue management systems that encourage it.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices that prevent average 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 about the transparency and implementation of dynamic pricing, as well as the technologies supporting queuing systems that encourage its use."

"By collaborating with artists, the industry, and supporters, 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 pricing strategy, which adjusts prices based on demand, was launched by Ticketmaster in 2022.

It was implemented to prevent scalping and to direct more funds towards the artists.

When demand for tickets is high and supply is limited, prices tend to increase.

In response to frustration regarding the cost of Oasis's concert tickets, the organization clarified that they do not determine ticket pricing and provided a link to a webpage explaining that prices may be "set or subject to market fluctuations."

On its official site, Ticketmaster defines "Platinum" tickets as those priced based on fluctuations in supply and demand.

The dynamic pricing system aims to ensure that fans can buy tickets fairly and securely, while allowing artists and event organizers to set prices that more accurately reflect the tickets' actual market value.

The firm states that the responsibility for setting prices and deciding on the use of dynamic pricing for their performances rests with the artists, their management teams, and the event promoters.

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Government official Lucy Powell fell victim to surge pricing last Saturday, paying over twice the initial price quoted for a ticket to see Oasis in concert.

The Competition and Markets Authority (CMA) expressed support for the government's announcement of a review.

A representative stated: "It's important to us that fans receive fair treatment when purchasing tickets from secondary markets, and we have already intervened with prominent resale platforms to guarantee compliance with consumer protection laws."

"We believe additional safeguards should be implemented for consumers, and it's encouraging that the government is keen to tackle this issue. We are eager to collaborate with them to achieve the most favorable results for supporters and businesses that play by the rules."

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The news followed an announcement last Tuesday from Noel and Liam Gallagher about the highly anticipated reunion of their band.

Dynamic pricing is widely used in sectors other than music, notably in the travel industry for hotel accommodations and flight bookings.

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Jack Antonoff, a regular collaborator with Taylor Swift, has previously expressed concerns about dynamic pricing.

He expressed to Stereogum his desire for artists to have the option to withdraw from the system and set their own prices for their work.

Attempts have been made to reach Ticketmaster for a statement.

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