Government to Review Dynamic Pricing After Oasis Ticket Outrage Sparks Fan Backlash

Sky-high Oasis reunion tour ticket prices labeled 'disheartening' – government vows to reevaluate fluctuating pricing strategies

"Feels like it's time to 'look back in anger'," commented an Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate the practice of variable ticket pricing following a surge in prices for the Oasis reunion tour, where ticket costs more than doubled during the sale period.

Culture Secretary Lisa Nandy labeled the sale of overpriced Oasis concert tickets as "depressing," indicating that surge pricing will be examined in a government review of the secondary ticket market for live events.

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

After enduring long lines and significant delays, numerous attendees were confronted with ticket costs greatly exceeding their original prices.

There was widespread frustration voiced online after tickets initially priced at £148 were found being resold for £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy revealed plans for a forthcoming government consultation to investigate certain problems, including the technology that supports queuing systems and encourages their use.

She expressed disappointment, stating, "It's disheartening to see the exorbitant ticket prices preventing regular fans from experiencing Oasis live, especially after such exciting reunion news."

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

"In our upcoming consultation on consumer protections for ticket resales, we will address the transparency of dynamic pricing and the technology behind queuing systems that encourage it."

"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, guaranteeing fairly priced tickets."

What does dynamic pricing mean?

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

It was implemented to prevent scalping and to direct more profits towards the performers.

When ticket demand is high and availability is low, prices tend to increase.

In response to frustration regarding the cost of Oasis's concert tickets, the company clarified that they do not determine the pricing. They also provided a link to a website explaining that ticket prices could be either "fixed or subject to market fluctuations."

On its official website, Ticketmaster characterizes its "Platinum" tickets as options priced based on fluctuations in market supply and demand.

The purpose 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 actual market value.

The firm asserts 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 fluctuating ticket prices last Saturday, ending up paying over twice the initially stated price for a ticket to an Oasis concert.

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

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets in the secondary market, and we have taken steps against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards should be implemented for consumers, which makes it encouraging that the government is eager 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 followed Noel and Liam Gallagher's announcement last Tuesday that the band would finally be getting back together.

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

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Jack Antonoff, a regular collaborator 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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