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

Sky-high Oasis concert ticket prices prompt dismay; government to examine fluctuating pricing strategies

"Looks like it’s time to look back in anger," commented an Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024 12:44

Officials have committed to investigating fluctuating ticket prices following a significant increase in costs for the Oasis reunion tour tickets during their sale period.

Culture Secretary Lisa Nandy labeled the escalated prices of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in a governmental review targeting the secondary market for concert ticket sales.

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

Once they endured the long lines and extensive delays, numerous individuals were greeted with ticket costs significantly exceeding their original price.

Frustrations boiled over online when concert tickets initially priced at £148 skyrocketed to £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy declared that in a forthcoming government consultation, both the issues at hand and the "technology that promotes queuing systems" will be examined.

She expressed disappointment, noting, "Following the exhilarating announcement of Oasis's reunion, it's disheartening to witness the skyrocketing ticket prices which prevent everyday fans from experiencing their beloved band in concert."

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

"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 technologies that support queue systems which encourage this practice."

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

What does dynamic pricing mean?

This approach, which adjusts prices based on demand, was rolled out by Ticketmaster in 2022.

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

Basically, when many people want tickets and there aren't enough available, the prices tend to increase.

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

Ticketmaster's official website explains that the price of its "Platinum" tickets fluctuates based on the principles of supply and demand.

The aim of the dynamic pricing system is to ensure that fans can buy tickets both fairly and securely, while allowing performers and those organizing the events to set ticket prices that more accurately reflect their real market value.

The company asserts that it is the artists, along with their management and 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 surge pricing last Saturday, ultimately paying over twice the initially stated price for a ticket to an Oasis concert.

The Competition and Markets Authority (CMA) expressed support for the news regarding the government's review.

A representative stated, "Our goal is for fans to receive equitable treatment when purchasing tickets on the secondary market, and we have taken steps against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards for consumers are essential, so it's encouraging to see the government taking steps 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 news followed an announcement last Tuesday by Noel and Liam Gallagher about the much-anticipated reunion of their band.

Dynamic pricing is widely utilized in sectors other than music, notably in the travel industry, including the pricing of hotel accommodations and flight tickets.

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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 desired 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 their response.

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