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

Sky-high Oasis concert ticket prices draw criticism; government vows to investigate fluctuating pricing strategies

"Time to revisit 'Don't 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:

The authorities have pledged to investigate variable ticket pricing following a significant price increase in tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that surge pricing would be examined in the government's evaluation of the secondary ticket market for live events.

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.

Yet, after enduring both lines and extended delays, numerous individuals encountered ticket costs significantly exceeding their original price.

There was an outpouring of frustration on social media after tickets initially 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 plans to review problems related to queuing systems and the technology that promotes them in a forthcoming consultation.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's reunion, it's disheartening to witness the steep rise in ticket prices, which prevents average fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering music around its fans."

"In our upcoming discussion on consumer protection measures for ticket resales, we will explore topics related to the transparency and application of dynamic pricing, as well as the technology behind queuing systems that promote such pricing strategies."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, ensuring that tickets are sold at reasonable prices."

What exactly is dynamic pricing?

Introduced by Ticketmaster in 2022, this pricing strategy adjusts based on consumer demand.

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

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

In response to frustration regarding the cost of tickets for Oasis, the company clarified that they do not determine the pricing, and they provided a link to a website explaining that prices could be either "fixed or influenced by the market".

Ticketmaster's website explains that the prices of its "Platinum" tickets fluctuate based on market conditions.

The text explains that the purpose of the dynamic pricing system is to ensure that fans can obtain tickets in a fair and secure manner, while also allowing artists and event organizers to set prices that more accurately reflect the actual market value of the tickets.

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

Stay ahead with the latest Breaking News

Download the Sky News application at no cost

Cabinet member Lucy Powell was affected by dynamic pricing this past Saturday, ultimately paying over twice the initial price quoted for a ticket to see Oasis in concert.

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

A representative stated: "We are committed to ensuring that fans receive equitable treatment when purchasing tickets through secondary platforms, and have taken steps against prominent resale sites to enforce compliance with consumer protection laws."

"We believe that additional safeguards are necessary for consumers, so 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 supporters and businesses that play by the rules."

Discover further details on Sky News: The Cure's band member faces a 'rare' cancer diagnosis; Samantha Fox found not guilty of wife assault.

The announcement of the band's highly anticipated reunion was made last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely adopted in various sectors, not just music, and is particularly prevalent in the travel industry for products like hotel accommodations and flight tickets.

Stay ahead with the latest Breaking News

Download the Sky News application at no cost

Jack Antonoff, a regular 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 their work.

Efforts have been made to contact Ticketmaster for a statement.

Associated Subjects

Footer for Sky News

Information about Sky News

Services Provided by Sky News

Channels under Sky

Additional Sky Websites