Government to Review Dynamic Ticket Pricing Amid Oasis Reunion Tour Outrage

Sky-high prices for Oasis reunion tour tickets have fans feeling 'downhearted,' prompting a government pledge to examine dynamic pricing strategies.

"Time to revisit 'Look Back in Anger'," commented a disappointed Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate the practice of dynamic ticket pricing following a significant increase in the prices of tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the skyrocketing prices of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in a government assessment of the secondary market for concert ticket sales.

On Saturday, enthusiasts of the globally renowned music group spent hours in digital lines, eagerly attempting to secure tickets for next year's highly anticipated reunion concerts.

Once they endured the long lines and extended delays, numerous individuals encountered ticket costs significantly exceeding their original prices.

Many took to social media to voice their frustration after observing that tickets, originally priced at £148, were being resold for £355 on Ticketmaster shortly after they went on sale, a result of the dynamic pricing strategy employed.

Over the weekend, Ms. Nandy revealed plans for a government consultation that will examine certain problems and the technology behind queuing systems that encourage these issues.

She expressed disappointment, stating: "With the thrilling announcement of Oasis's reunion, it's disheartening to witness the skyrocketing ticket prices that prevent average fans from experiencing their beloved band in concert."

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

"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 technologies supporting queue systems that promote it."

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

What is dynamic pricing?

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

The measure was implemented to prevent scalping and to increase the revenue received by artists.

Basically, when many people want tickets but there aren't many available, prices tend to increase.

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

On its official site, Ticketmaster characterizes its "Platinum" tickets as those priced based on the principles of supply and demand.

The text indicates that the purpose of the dynamic pricing system is to ensure that fans can obtain tickets reliably and fairly, while also allowing performers and event organizers to set ticket prices that more accurately reflect their market value.

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

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On Saturday, dynamic pricing affected government minister Lucy Powell, who ended 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 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 make certain they comply with consumer protection laws."

"We believe additional safeguards for consumers are essential, and it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to secure 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 public last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely utilized across various sectors, not just in music, but also in the travel industry, particularly 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 his goal was for artists to have the option to exit the system and set their own prices for their work.

Attempts have been made to reach Ticketmaster for a statement.

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