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

Skyrocketing Oasis concert ticket prices leave fans disappointed; government to reevaluate fluctuating pricing strategies

"Time to revisit 'Don't Look Back in Anger'," commented a disillusioned Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

Officials have pledged to investigate the practice of flexible ticket pricing following a significant increase in prices for tickets to the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing," indicating that surge pricing will be considered in the government's evaluation 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 next year's highly anticipated reunion concerts.

After enduring the long lines and extended delays, numerous attendees found themselves facing ticket costs significantly above the original price.

Outrage spread across social media when tickets originally priced at £148 were listed for £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government would review the problems and the technology that promotes queuing systems in a forthcoming consultation.

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

"The 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 plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology supporting queue systems that encourage this practice."

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

What does dynamic pricing mean?

This strategy, which adjusts prices based on demand, was implemented by Ticketmaster in 2022.

It was implemented to prevent scalping and to direct more funds towards the performers.

When demand for tickets is high and supply is low, prices tend to increase.

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

Ticketmaster's official website explains that the prices of "Platinum" tickets vary based on market dynamics of supply and demand.

The text indicates that the purpose of the dynamic pricing system is to ensure that tickets are accessible and secure for fans, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm states that it is the artists, their representatives, and event organizers who determine the prices and decide if dynamic pricing will be applied to their events.

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On Saturday, government minister Lucy Powell was affected by surge pricing, ultimately paying over twice the initially quoted price for a ticket to see Oasis.

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

A representative stated: "It's our goal to ensure that fans receive equitable treatment when purchasing tickets through resale platforms, and we have already intervened with prominent ticket reselling sites to uphold consumer rights laws."

"We believe additional safeguards are necessary for consumers in this area, so it's encouraging that the government is willing to tackle the issue. We are eager to collaborate with them to achieve the most favorable results for supporters and ethical companies."

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The news follows after Noel and Liam Gallagher announced last Tuesday that their band would finally be reuniting.

Dynamic pricing is also widely utilized in other sectors, notably in the travel industry, where it is commonly applied to hotel accommodations and flights.

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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 wished for artists to have the option to withdraw from the system and set their own prices for sales.

Requests for comment have been made to Ticketmaster.

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