Government to Review Dynamic Pricing Amid Oasis Ticket Outrage

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

"Time to revisit our frustration," posted an Oasis enthusiast on social media, expressing dismay over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate 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," announcing that surge pricing will be examined in the government's upcoming 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 significant delays, numerous attendees were confronted with ticket prices substantially exceeding their original cost.

Many took to social media to vent their frustration after tickets, originally priced at £148, were listed for £355 on Ticketmaster just hours after going on sale, a result of the platform's dynamic pricing strategy.

Over the weekend, Ms. Nandy stated that an upcoming government consultation would examine these issues, including the technology associated with queuing systems that encourage it.

She expressed her disappointment, stating, "Following the thrilling announcement of Oasis's comeback, 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 recentering fans at the core of the music experience."

"We plan to address concerns about the clarity and application of fluctuating prices, as well as the technologies that support queuing mechanisms which encourage it, in our upcoming discussion on enhancing consumer protections in ticket resale activities.

"By collaborating with artists, the industry, and fans, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced resales, ensuring that tickets are sold at reasonable prices."

What does dynamic pricing mean?

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

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

When there's high demand for tickets and they are in short supply, prices tend to increase.

In response to the uproar concerning the cost of Oasis's concert tickets, the company clarified that they do not determine the pricing, instead pointing to a website which explained that the prices might be "set or subject to market fluctuations".

According to Ticketmaster's official site, the company defines "Platinum" tickets as those priced based on the dynamics 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 performers and event organizers to set prices that more accurately reflect the actual market value of the tickets.

The company states that the responsibility for setting ticket prices and deciding on the use of dynamic pricing for their events lies with the artists, their management teams, and the event promoters.

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Government official Lucy Powell was affected by fluctuating prices last Saturday, ultimately paying over twice the initially quoted price for a ticket to an Oasis concert.

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

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

"We believe that additional safeguards are necessary for consumers, so it's encouraging that the government is seeking 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 announcement of the band getting back together was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely adopted in various sectors, not just music, and is particularly prevalent in the travel industry for services like 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 withdraw from the system and set their own prices for their work.

Attempts have been made to contact Ticketmaster for a statement.

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