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

Sky-high Oasis concert ticket costs 'disheartening' – officials pledge to examine fluctuating pricing strategies

"Time to revisit our frustration," commented an Oasis enthusiast on social media, expressing discontent over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

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

Culture Secretary Lisa Nandy expressed disappointment over the high prices of Oasis concert tickets, labeling the situation as "depressing." She mentioned that surge pricing will be considered in a government evaluation of the secondary market for event tickets.

On Saturday, enthusiasts of the globally renowned music group spent hours in online lines, eager to secure tickets for one of next year's highly anticipated comeback concerts.

After enduring long lines and significant delays, numerous attendees were confronted with ticket costs substantially exceeding their original price.

Many voiced their frustration online after seeing tickets initially priced at £148 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 stated that the government would examine these problems and the technology behind queuing systems that encourage them in a forthcoming consultation.

She expressed disappointment, stating, "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the steep rise in ticket prices, which prevents regular fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering fans at the core of the music experience."

"In our upcoming discussion on consumer protection measures for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, as well as the technology behind queue systems that promote 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 ticket resales, ensuring that tickets are sold at reasonable prices."

What does dynamic pricing mean?

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

The measure was introduced to prevent scalping and to increase the financial returns for the artists.

When there's high demand for tickets and they are in short supply, prices tend to increase.

In response to the frustration surrounding 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 could be either "fixed or subject to market fluctuations".

On its official website, Ticketmaster characterizes its "Platinum" tickets as those whose prices fluctuate based on market dynamics of supply and demand.

The purpose of the dynamic pricing system is to ensure that fans have secure and equitable opportunities to purchase tickets, while also allowing performers and event organizers to set ticket prices that more accurately reflect their market worth.

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

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Cabinet member Lucy Powell experienced the impact of dynamic pricing this past Saturday, 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 review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from the secondary market, and we have initiated measures against prominent resale platforms to uphold consumer protection laws."

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

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The announcement of the band's much-anticipated reunion was made last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely implemented across various sectors, notably in the travel industry, where it is applied to hotel accommodations and flight reservations.

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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 sales.

Attempts have been made to reach Ticketmaster for a statement.

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