Government to Review Dynamic Pricing Amid Oasis Reunion Tour Ticket Outrage

Skyrocketing Oasis concert ticket prices 'disheartening,' says government, vowing to reassess variable pricing strategies

"Time to revisit 'Don't Look Back in Anger'," expressed a frustrated Oasis enthusiast on social media, reflecting widespread upset over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The administration has vowed to investigate fluctuating ticket prices following reports that Oasis reunion tour tickets surged in cost during the sales period.

Culture Secretary Lisa Nandy labeled the exorbitant pricing of Oasis concert tickets as "depressing" and announced that surge pricing would be addressed in a government examination of the secondary ticket market for live events.

On Saturday, enthusiasts of the globally renowned musical group spent hours in digital lines, eager to secure tickets for one of next year's comeback concerts.

Yet, after enduring the long lines and extensive delays, numerous individuals encountered ticket costs significantly exceeding their original price.

People took to social media to vent their frustration after tickets, originally priced at £148, were being resold for £355 on Ticketmaster just hours after they went on sale, a surge attributed to the dynamic pricing systems.

Over the weekend, Ms. Nandy revealed plans for a government consultation that will examine these concerns and the technology behind queue systems that encourage them.

She expressed her disappointment by saying, "With Oasis announcing their comeback, it's disheartening to witness such skyrocketing ticket prices that prevent regular fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering music around its fans."

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology behind queue systems that encourage it."

"By collaborating with artists, the industry, and concertgoers, we can establish a more equitable system that eliminates the problems of scalpers and overpriced resales, guaranteeing fairly priced tickets."

What does dynamic pricing entail?

This pricing strategy, which adjusts prices based on demand, was adopted by Ticketmaster in 2022.

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

When the demand for tickets is high and their availability is limited, prices tend to increase.

In response to the uproar regarding the cost of Oasis's tickets, the firm clarified that they do not determine ticket pricing and provided a link to a webpage explaining that prices can be "set or fluctuate based on market demand."

On its official site, Ticketmaster characterizes its "Platinum" tickets as those whose prices fluctuate based on market dynamics of supply and demand.

The objective of the dynamic pricing system is to ensure that fans can buy tickets in a fair and secure manner, while allowing artists and event organizers to set prices that reflect the actual market value of the tickets.

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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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 see Oasis perform.

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 from secondary markets, and we have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws.

"We believe that additional safeguards for consumers are necessary, and it's encouraging that the government is willing to tackle this issue. We are eager to collaborate with them to achieve optimal results for both fans and businesses that play by the rules."

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The news followed last Tuesday's announcement by Noel and Liam Gallagher that the band would be reuniting after much anticipation.

Dynamic pricing extends to various sectors, prominently seen in the travel sector where it is applied to both hotel accommodations and flight fares.

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Renowned music producer Jack Antonoff, known for his numerous projects with Taylor Swift, has previously expressed concerns about dynamic pricing.

He explained to Stereogum that he envisioned a system where artists could choose not to participate and set their own prices for their works.

Efforts have been made to contact Ticketmaster for a statement.

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