Government to Review Surge Pricing After Oasis Reunion Tour Ticket Outrage

Sky-high Oasis concert ticket prices are 'disheartening,' and the government vows to examine surge pricing practices.

"Time to revisit our frustration," posted an Oasis enthusiast on social media, expressing dismay over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

The authorities have committed to investigating the practice of variable pricing for tickets, following reports that prices for the Oasis reunion tour surged dramatically during the sales period.

Culture Secretary Lisa Nandy expressed disappointment over the exorbitant pricing of Oasis tickets, stating that the issue of surge pricing will be addressed in the government's examination of the secondary market for concert tickets.

On Saturday, enthusiasts of the globally renowned music group waited online for hours in anticipation of securing tickets to one of next year's comeback concerts.

Yet, after enduring the long lines and significant delays, numerous individuals encountered ticket costs substantially exceeding their original prices.

People took to social media to vent their frustration after observing that tickets originally priced at £148 were being resold for £355 on Ticketmaster shortly after they were made available, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government would examine these matters and the technology that encourages queuing systems in a forthcoming consultation.

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

"This administration is dedicated to re-centering fans in the music experience."

"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 this pricing strategy."

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

What does dynamic pricing mean?

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

The measure was introduced to prevent scalping and to direct a greater share of revenue towards the performers.

Basically, when many people want tickets but there are only a few available, the cost tends to increase.

In response to the frustration surrounding the cost of Oasis's tickets, the company clarified that they do not determine the pricing. They also provided a link to a website that explained prices could be "set or subject to market fluctuations".

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

The dynamic pricing system aims to provide fans with equitable and secure ticket purchasing options, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The company asserts that it is the artists, along with 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 fell victim to dynamic pricing last Saturday, ultimately paying over twice the initial price quoted for a ticket to see Oasis perform.

The Competition and Markets Authority (CMA) supported the announcement of the government's examination.

A representative stated: "It's important to us that fans receive a fair treatment when purchasing tickets from secondary markets, and we have already intervened with key resale platforms to guarantee compliance with consumer protection laws."

"We believe that consumers need additional safeguards, so it's encouraging that the government is willing to tackle this issue. We are eager to collaborate with them to achieve the most favorable results for supporters and businesses that play by the rules."

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The news follows last Tuesday's announcement by Noel and Liam Gallagher that the band is set to reunite after a long hiatus.

Dynamic pricing is widely utilized across various sectors, not just music, including frequent applications in the travel industry for hotel accommodations and flight bookings.

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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 not participate in the system and to set their own prices for sales.

Efforts have been made to reach Ticketmaster for their input.

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