Government to Review Dynamic Pricing After Outrage Over Sky-High Oasis Reunion Tour Ticket Costs

Skyrocketing costs for Oasis concert tickets have been deemed 'disheartening,' with the government committing to examine the use of fluctuating pricing methods. "It's time to look back in anger," complained a fan of Oasis on social media, expressing frustration over the ticket sales strategy for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The authorities have pledged to investigate the practice of variable ticket pricing following a significant increase in prices for tickets to the Oasis reunion tour during their sale period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing" and announced that surge pricing would be examined in a governmental 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 one of next year's comeback concerts.

After enduring long lines and extended delays, numerous individuals were greeted with ticket costs significantly exceeding their original price.

Outrage spilled onto social media as fans discovered tickets initially priced at £148 being resold for £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform’s dynamic pricing strategies.

During a weekend address, Ms. Nandy revealed plans for a forthcoming government consultation to explore problems, including those related to technology that encourages queuing systems.

She commented, "It's disheartening, following the exciting announcement of Oasis's reunion, 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 consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and implementation of dynamic pricing, as well as the technologies supporting queuing systems that promote it."

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

Dynamic pricing, a strategy that adjusts prices according to demand, was implemented by Ticketmaster in 2022.

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

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

In response to the backlash regarding the cost of Oasis tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices can be "set or fluctuate based on the market."

Ticketmaster's website explains that the prices of "Platinum" tickets fluctuate based on market dynamics of supply and demand.

The aim of the dynamic pricing system is to ensure that fans can obtain tickets in a fair and secure manner, while allowing artists and event organizers to set ticket prices that reflect their real market value.

The firm states that it is the artists, along with their management 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 affected by fluctuating ticket prices on Saturday, ultimately paying over twice the initially quoted price for a ticket to see Oasis perform.

The Competition and Markets Authority (CMA) expressed support for the government's decision to conduct a review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary markets, and we have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws.

"We believe additional safeguards are necessary for consumers, 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 supporters 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 much-anticipated reunion of the band is set to take place.

Dynamic pricing is widely adopted in various sectors, not just music, and is particularly prevalent in the travel industry for both hotel accommodations and airfare.

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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 wished for artists to have the option to exit the system and set their own prices for sales.

Attempts have been made to contact Ticketmaster for a statement.

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