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

Sky-high ticket costs for Oasis reunion tour labeled 'disheartening' – officials vow to examine fluctuating pricing strategies

"Time to reflect on our frustration," commented a fan of Oasis 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 fluctuating ticket prices following a significant increase in the cost of tickets for the Oasis reunion tour during their sale period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in the government's assessment of the secondary market for concert ticket sales.

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.

Once they endured the long lines and waiting times, numerous attendees were confronted with ticket costs significantly exceeding their original price.

Many took to social media to voice their frustration after observing that tickets originally priced at £148 were being resold for £355 on Ticketmaster shortly after becoming available, a surge attributed to the dynamic pricing strategies employed.

During a weekend address, Ms. Nandy declared that the government will review concerns, including the technology behind queue systems that encourage its use, in a forthcoming consultation.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's reunion, it's disheartening to witness the exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans at the core of the music experience."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to transparency and the implementation of dynamic pricing, as well as the technology supporting queuing systems that promote such pricing strategies."

"By collaborating with artists, the industry, and concert-goers, we aim to develop a more equitable system that eradicates the problems of scalpers and overpriced ticket resales, ensuring that tickets are sold at reasonable prices."

What is dynamic pricing?

This pricing strategy, which adjusts prices according to demand, was implemented by Ticketmaster in 2022.

The measure was implemented to prevent scalping and to direct more funds towards the artists.

When ticket demand is high and availability is limited, prices tend to increase.

In response to frustration regarding the cost of Oasis's concert tickets, the company clarified that they do not determine the pricing themselves and provided a link to a website explaining that prices may be "set or subject to market fluctuations."

On its official site, Ticketmaster characterizes its "Platinum" tickets as those whose prices fluctuate based on market demand and availability.

The purpose of the dynamic pricing system is to ensure that fans can purchase tickets securely and at reasonable prices, while also allowing artists and event organizers to set ticket prices that reflect their real market worth.

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 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) supported the announcement of the government's review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets through the secondary market, and we have taken measures against prominent reselling platforms to uphold consumer rights."

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

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The news followed an announcement last Tuesday by Noel and Liam Gallagher that the band is set to reunite after a long hiatus.

Dynamic pricing is widely utilized in various sectors, not just music, including frequent applications in the travel industry for hotel accommodations and flight reservations.

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Jack Antonoff, a frequent collaborator with 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.

Ticketmaster has been contacted for a statement.

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