Government to Review Surge Pricing After Oasis Reunion Tour Ticket Outrage

Skyrocketing prices for Oasis concert tickets leave fans disheartened; government to examine variable pricing strategies

"Time to look back in anger," expressed a fan of Oasis on social media, voicing frustration over the ticketing process for the much-awaited reunion tour.

Monday, September 2, 2024, 12:

The administration has pledged to investigate the practice of variable ticket pricing following a significant increase in the prices of Oasis reunion tour tickets during their sale.

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

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.

Yet, after enduring the long lines and delays, numerous individuals found themselves facing ticket costs significantly above the original price.

Users voiced their frustration online when tickets initially priced at £148 appeared on Ticketmaster for £355 shortly after going on sale, a result of the platform's dynamic pricing strategy.

Over the weekend, Ms. Nandy declared that an upcoming government consultation would examine issues including the technology behind queuing systems that encourage it.

She expressed disappointment, stating: "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the exorbitant 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 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 behind queuing 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 resales, guaranteeing fairly priced tickets for everyone."

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 revenue 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. They also provided a link to a website explaining that prices may be set in a "fixed or market-based" manner.

Ticketmaster's official site explains that the pricing of "Platinum" tickets fluctuates based on market dynamics, aligning with variations in supply and demand.

The purpose of the dynamic pricing system is to ensure that tickets are accessible and secure for fans, while allowing artists and event organizers to set prices that reflect the real market value of the tickets.

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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Cabinet member Lucy Powell was affected by fluctuating prices last Saturday, ending up paying over twice the initially stated 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've already intervened with key resale sites to guarantee compliance with consumer protection laws."

"We believe additional safeguards for consumers are essential, and it's encouraging that the government is eager to tackle this issue. We are excited 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 reunion was made public last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely utilized across various sectors, notably in the travel industry where it is commonly applied to 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 envisioned a system where artists could choose not to participate and set their own prices for their work.

Attempts have been made to reach Ticketmaster for a statement.

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