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

Skyrocketing prices for Oasis concert tickets spark outrage; officials vow to examine variable pricing methods

"Reflecting on this with frustration," commented a fan of Oasis on a social media platform, expressing dismay over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, at 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 pricing of Oasis concert tickets as "depressing" and announced that surge pricing will be examined in a government review targeting the resale of event tickets.

On Saturday, devotees of the globally renowned music group spent hours in digital lines, eagerly attempting to secure tickets for one of next year's comeback concerts.

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

Many people took to social media to vent their frustration after tickets initially priced at £148 were being resold for £355 on Ticketmaster shortly after they went on sale, a price surge attributed to the platform's dynamic pricing mechanisms.

Over the weekend, Ms. Nandy declared that an impending government consultation would examine these problems and the technology associated with queue systems that encourage them.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness such steep ticket prices 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 discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technologies that support queuing systems which encourage this practice."

"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, guaranteeing reasonably priced tickets for everyone."

What is dynamic pricing?

This strategy, which adjusts prices according to consumer demand, was adopted by Ticketmaster in 2022.

It was implemented to prevent scalping and to make sure that a greater share of the earnings goes to the artists.

When there's high demand for tickets and they are in short supply, prices tend to increase.

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

On its official site, Ticketmaster defines "Platinum" tickets as those whose prices are modified based on the principles of supply and demand.

The purpose of the dynamic pricing system is to ensure that tickets are accessible to fans in a fair and secure manner, while also allowing artists and event organizers to price tickets more accurately according to their real market value.

The firm states that it is the artists, along with their management and the event 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 this Saturday, ending up paying over twice the initially quoted price for a ticket to an Oasis concert.

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 secondary platforms, and we have initiated measures against prominent resale sites to enforce compliance with consumer protection laws."

"We believe that consumers require additional safeguards, so it's encouraging that the government is aiming to tackle this issue. We are eager to collaborate with them to achieve the most favorable results for supporters and businesses that compete fairly."

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

Dynamic pricing is widely used in sectors other than music, particularly in the travel industry for 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.

Attempts have been made to reach Ticketmaster for a response.

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