Government to Review Dynamic Pricing Amid Outrage Over Skyrocketing Oasis Reunion Tour Ticket Costs

Sky-high prices for Oasis concert tickets have left fans disheartened; government vows to scrutinize variable pricing models

"Time to look back in anger," posted an Oasis enthusiast on social media, expressing frustration over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

The government has vowed to investigate fluctuating ticket prices following reports that the cost of tickets for the Oasis reunion tour surged by over 100% during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis tickets as "depressing." She announced that surge pricing would be examined in a government review focused on the resale of concert tickets.

On Saturday, followers 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 the long lines and extended delays, numerous individuals found themselves facing ticket costs significantly above the original price.

People voiced their frustration on social platforms after tickets originally priced at £148 skyrocketed to £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy revealed plans for a government consultation that will examine certain issues, including the technology that supports queuing systems and encourages their use.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the skyrocketing ticket prices which 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 public discussion on consumer protection measures for ticket reselling, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology behind queue systems that encourage it.

"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 available at reasonable prices."

What does dynamic pricing mean?

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

The measure was implemented to prevent scalping and to increase the financial returns for the artists.

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

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

On its official site, Ticketmaster characterizes its "Platinum" tickets as ones priced based on fluctuations in market demand and supply.

The text explains that the purpose of the dynamic pricing system is to ensure fans can purchase tickets fairly and securely, while also allowing artists and those who organize live events to set ticket prices that more accurately reflect their true market value.

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

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Cabinet member Lucy Powell experienced the impact 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, "It's important to us that fans receive equitable treatment when purchasing tickets from secondary platforms, and we have taken steps against key resale sites to enforce compliance with consumer protection laws."

"We believe additional safeguards should be implemented for consumers, therefore it's encouraging that the government is willing to tackle this issue. We're eager to collaborate with them to achieve optimal results for supporters and businesses that play by the rules."

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

Dynamic pricing is widely used in various sectors besides music, particularly in the travel industry, where it is commonly applied to hotel accommodations and airfare.

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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 response.

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