Government to Review Ticket Pricing After Oasis Reunion Tour Sparks Outrage Over High Costs

Sky-high Oasis concert ticket prices deemed 'disheartening' – officials vow to reassess fluctuating pricing schemes

"Time to reflect on our frustrations," expressed an Oasis enthusiast on social media, voicing displeasure over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024 12:44

The administration has vowed to investigate fluctuating ticket prices following a significant increase in the cost of tickets during the Oasis reunion tour sales.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that surge pricing would be examined in the government's upcoming review 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.

After enduring long lines and significant delays, numerous attendees were confronted with ticket costs that greatly exceeded their original prices.

Many voiced their frustration online after noticing that tickets initially 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 strategies.

Over the weekend, Ms. Nandy stated that the government is set to examine issues including the technology behind queuing systems that encourage it, as part of a forthcoming consultation.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the sharply increased ticket prices preventing regular fans from experiencing their beloved band in concert."

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

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and implementation of dynamic pricing, as well as the technologies that support queuing systems which encourage this practice."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates ticket scalping 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 introduced to prevent scalping and to make sure that a greater portion of earnings goes to the performers.

When ticket demand is high and supply is low, prices tend to increase.

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

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

The purpose of the dynamic pricing system is to ensure that fans can obtain tickets in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm states that it is the artists, along with 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 experienced the effects 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: "Our goal is for fans to receive equitable treatment when purchasing tickets on the secondary market, and we have taken steps to hold major reselling platforms accountable to consumer protection laws."

"We believe that additional safeguards should be implemented for consumers, and it's encouraging that the government is eager to tackle this issue. We are excited about the opportunity to collaborate with them to achieve the most favorable results for both consumers and honest businesses."

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The news follows last Tuesday's announcement by Noel and Liam Gallagher regarding the highly anticipated reunion of the band.

Dynamic pricing is widely used in sectors other than music, notably in the travel industry for things like hotel accommodations and flight fares.

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Jack Antonoff, a regular collaborator with Taylor Swift, has expressed concerns about dynamic pricing in the past.

He explained to Stereogum that he wished for artists to have the option to withdraw from the system and set their own prices for their work.

Efforts have been made to contact Ticketmaster for a statement.

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