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

Sky-high Oasis concert ticket prices dishearten fans; government to examine fluctuating pricing strategies

"Looking back in anger," commented an Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate the practice of variable ticket pricing following reports that prices for the Oasis reunion tour tickets surged by over 100% during the sales period.

Culture Secretary Lisa Nandy expressed disappointment over the high prices of Oasis concert tickets, stating that surge pricing will be examined in a broader government evaluation of the resale market for live event tickets.

On Saturday, devotees of the globally renowned musical group spent hours in online lines, eager to secure tickets for one of next year's anticipated reunion concerts.

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

Many voiced their frustration online when tickets priced at £148 were listed for £355 on Ticketmaster shortly after going on sale, a result of the dynamic pricing models employed.

During a weekend address, Ms. Nandy revealed plans for a forthcoming government consultation to examine certain concerns, including technologies related to queue management systems that promote queuing.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's reunion, it's disheartening to witness the skyrocketing ticket prices which prevent regular 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 protections for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, as well as the technologies behind queue systems that promote it."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced resales, guaranteeing 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.

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

In essence, when ticket demand is high and availability is low, prices tend to increase.

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

On its official site, Ticketmaster defines its "Platinum" tickets as those priced based on fluctuating market demand and availability.

The dynamic pricing system aims to ensure that fans can obtain tickets fairly and securely, while allowing artists and event organizers to set ticket prices that reflect their real market value.

The firm states that it is the artists, along with their management and promoters, who determine the prices and decide if dynamic pricing will be implemented for their events.

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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) expressed support for the government's announcement of a review.

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

"We believe additional safeguards should be implemented for consumers, and it's encouraging that the government is taking steps 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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Last week, Noel and Liam Gallagher announced that their band would finally be reuniting, confirmed last Tuesday.

Dynamic pricing is not unique to the music industry; it is also widely utilized in the travel sector, particularly for hotel accommodations and flight reservations.

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Jack Antonoff, a regular collaborator of Taylor Swift, has previously expressed concerns about dynamic pricing.

He explained to Stereogum that his goal was 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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