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

Sky-high prices for Oasis reunion tour tickets leave fans disheartened; government to examine variable pricing strategies

"Looks like it's time to look back in anger," posted a disappointed Oasis enthusiast on social media, expressing frustration over the ticketing process for the much-awaited tour.

Monday, September 2, 2024, 12:

The government has committed to investigating the practice of dynamic ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," announcing that surge pricing would be examined in a government review focused on the secondary market for concert tickets.

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

Upon passing through both lines and enduring extended delays, numerous individuals encountered ticket costs significantly exceeding their original prices.

On social media, frustration mounted among fans when tickets initially priced at £148 surged to £355 on Ticketmaster shortly after going on sale, a spike attributed to the platform's dynamic pricing models.

Over the weekend, Ms. Nandy declared that the government would examine these matters and the technology behind queuing systems that encourage such behavior in a forthcoming consultation.

She expressed disappointment, stating: "With Oasis making a comeback, it's disheartening to witness ticket prices soar to levels that 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 consultation on consumer protection for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, along with the technologies that support queuing systems which encourage it."

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

What does dynamic pricing mean?

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

The measure was implemented to prevent scalping and to increase the revenue that artists receive.

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

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

On its official site, Ticketmaster characterizes its "Platinum" tickets as offerings whose prices fluctuate based on market dynamics and consumer interest.

The objective of the dynamic pricing system is to ensure that fans can purchase tickets fairly and securely, while allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

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

Stay ahead with the latest breaking news updates.

Download the Sky News application at no cost

Cabinet member Lucy Powell experienced the effects of dynamic pricing this past 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 review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary platforms, and we have already intervened with prominent ticket resale sites to guarantee compliance with consumer protection laws.

"We believe additional safeguards are necessary for consumers, so it's encouraging that the government is willing to tackle this issue. We are eager to collaborate with them to achieve favorable results for both fans and businesses that play by the rules."

Discover further details at Sky News: Member of The Cure reveals diagnosis of an uncommon cancer type; Samantha Fox exonerated in wife assault case.

The announcement of the band's much-anticipated reunion was confirmed by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely employed in various sectors, not just music, and is particularly prevalent in the travel industry, including for hotel accommodations and airline fares.

Stay ahead with the latest breaking news updates.

Download the Sky News app at no cost

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 selling.

Attempts were made to reach Ticketmaster for a response.

Associated Subjects

Footer of Sky News

Information About Sky News

Services Offered by Sky News

Channels on Sky

Additional Websites from Sky