Government to Review Dynamic Pricing Amid Oasis Reunion Tour Ticket Outrage

Sky-high Oasis concert ticket costs labeled 'disheartening' – officials vow to examine variable pricing strategies

"Time to look back in anger," expressed an Oasis enthusiast on social platforms, voicing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

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

Culture Secretary Lisa Nandy labeled the exorbitant pricing of Oasis concert tickets as "depressing," announcing that surge pricing would be considered in an upcoming government examination of the secondary market for concert tickets.

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

After enduring long lines and significant delays, numerous individuals were confronted with ticket costs substantially exceeding their original price.

Outrage was voiced on social media when tickets, originally priced at £148, were being resold for £355 on Ticketmaster shortly after they were released, a result of the dynamic pricing models used.

Over the weekend, Ms. Nandy stated that the government will examine these problems and the technology that encourages queuing systems in a forthcoming consultation.

She commented, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness such exorbitant ticket prices that prevent average fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering fans as the core focus of the music industry."

"In our upcoming discussion on consumer protections 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 fans, we can develop a more equitable system that eliminates the problems of scalpers and overpriced resales, guaranteeing tickets are sold at reasonable prices."

What does dynamic pricing mean?

This strategy, which adjusts prices according to demand, was adopted by Ticketmaster in 2022.

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

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

In response to frustration regarding the cost of Oasis's tickets, the company clarified that it does not determine the pricing. They provided a link to a website which explained that ticket prices could be "fixed or dictated by the market."

On its official site, Ticketmaster characterizes its "Platinum" tickets as ones priced based on the principles of supply and demand.

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 set prices that more accurately reflect the real market value of the tickets.

The company states that the decision on ticket prices and the use of dynamic pricing for their events is made by the artists, their management teams, and the event promoters.

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Cabinet member Lucy Powell was affected by surge pricing last Saturday, ultimately paying over twice the initially quoted price for a ticket to see Oasis perform.

The Competition and Markets Authority (CMA) supported the announcement of the government's evaluation.

A representative stated, "It's important to us that fans receive equitable treatment when purchasing tickets from secondary platforms, and we have initiated measures against prominent resale sites to enforce compliance with consumer protection laws."

"We believe additional safeguards are necessary for consumers, and it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to secure favorable results for supporters and honest businesses."

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The announcement of the band's highly anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is prevalent in various sectors, notably in the travel industry, where it is often applied to 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 wishes for artists to have the option to exit the system and set their own prices for sales.

Efforts have been made to reach Ticketmaster for a response.

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