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

Skyrocketing prices for Oasis concert tickets labelled 'disheartening' – officials vow to examine fluctuating pricing strategies

"Time to reflect on our frustrations," commented an Oasis enthusiast 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 the practice of dynamic ticket pricing following a significant increase in prices for Oasis reunion tour tickets during the sales period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing," announcing that surge pricing will be covered in a governmental examination 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.

After enduring long lines and extended delays, numerous attendees were greeted with ticket costs significantly exceeding their original prices.

Many voiced their frustration online after observing that tickets, originally priced at £148, were being resold for £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform's dynamic pricing mechanisms.

Over the weekend, Ms. Nandy declared that in a forthcoming government consultation, they will explore various matters including the technology used in queuing systems that encourages queueing.

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

"This administration is dedicated to recentering music enthusiasts at the core of the industry."

In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology supporting queuing systems that encourage its use.

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

What is dynamic pricing?

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

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

In essence, when tickets are in high demand and the supply is limited, prices tend to increase.

In response to frustration about 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 may be "set or influenced by the market."

On its official site, Ticketmaster explains that the pricing of its "Platinum" tickets fluctuates based on market dynamics.

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 set prices that more accurately reflect the actual market value.

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 applied to their events.

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Government official Lucy Powell was impacted by dynamic pricing last Saturday, ultimately 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 evaluation.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary outlets. We have initiated measures against prominent ticket resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards are necessary for consumers, and 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."

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Last week on Tuesday, Noel and Liam Gallagher announced the highly anticipated reunion of their band.

Dynamic pricing is widely adopted in various sectors besides music, notably in the travel industry for hotel accommodations and airfare.

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Jack Antonoff, known for his frequent collaborations 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.

Efforts have been made to contact Ticketmaster for a response.

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