Government to Review Dynamic Pricing Amid Oasis Reunion Tour Ticket Outrage

Sky-high Oasis concert ticket costs bring dismay; officials vow to examine fluctuating pricing strategies

"Time to revisit our frustration," expressed a fan of Oasis on social platforms, reacting to the controversial ticketing of their eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has committed to investigating the practice of dynamic ticket pricing following a significant price surge in tickets during the Oasis reunion tour sale.

Culture Secretary Lisa Nandy expressed disappointment over the high prices of Oasis concert tickets, labeling the situation as "depressing." She mentioned that surge pricing will be examined in an upcoming government assessment of the secondary market for concert tickets.

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

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

People voiced their frustration online after tickets initially priced at £148 surged to £355 on Ticketmaster shortly after going on sale, a spike attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government would examine these problems and the technology behind queue systems that encourage them in a forthcoming consultation.

She expressed disappointment, stating: "Following the exhilarating announcement of Oasis's reunion, it's disheartening to witness the steep rise in ticket prices, which prevents regular fans from experiencing their beloved band in concert."

"This administration is dedicated to re-centering fans in the music experience."

"In our upcoming discussions on consumer protection measures for ticket resales, we plan to address topics related to the transparency and application of dynamic pricing, as well as the technology behind queuing systems that encourage this practice."

"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 fairly priced tickets for all."

What is dynamic pricing?

This pricing strategy, which varies prices based on demand, was rolled out by Ticketmaster in 2022.

The measure was implemented to prevent scalping and to guarantee that a greater share of the profits reaches the artists.

When there's high demand for tickets and a scarce supply, prices tend to increase.

In response to the frustration surrounding the cost of Oasis's 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 "set at a fixed rate or subject to market fluctuations."

Ticketmaster explains on its website that the cost of its "Platinum" tickets fluctuates based on the principles of supply and demand.

The text indicates that the purpose of the dynamic pricing system is to ensure that fans can purchase tickets in a fair and secure manner, while also allowing performers and event organizers to set ticket prices that more accurately reflect their real market value.

The company states that it is the artists, their management, and event organizers 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 surge pricing this Saturday, ending up paying over twice the initially quoted price for a ticket to an Oasis concert.

The Competition and Markets Authority (CMA) supported the announcement of a government review.

A representative stated: "Our goal is for fans to receive a reasonable offer when purchasing tickets from secondary platforms, and we have taken measures against prominent reselling sites to enforce compliance with consumer protection laws."

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

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The news followed an announcement last Tuesday by Noel and Liam Gallagher about the much-anticipated reformation of their band.

Dynamic pricing is also prevalent in other sectors such as the travel industry, where it is routinely applied to hotel accommodations and flight reservations.

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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 withdraw from the system and set their own prices for their work.

Efforts have been made to reach Ticketmaster for a response.

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