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

Sky-high Oasis concert ticket costs labeled 'disheartening'—officials vow to examine fluctuating pricing models

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

Monday, September 2, 2024, 12:

The government has vowed to investigate the practice of variable ticket pricing following reports that prices for the Oasis reunion tour tickets surged by over 100% during the sales period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in a government assessment 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 comeback concerts.

After enduring long lines and wait times, numerous individuals were confronted with ticket costs significantly exceeding their original price.

Many voiced their frustration online after observing that tickets initially priced at £148 were being resold for £355 on Ticketmaster shortly after their release, a result of the dynamic pricing strategies employed.

Over the weekend, Ms. Nandy stated that the government will review issues related to queuing systems and the technology that encourages them in a forthcoming consultation.

She expressed disappointment, stating: "Following the exciting announcement about Oasis reuniting, it's disheartening to witness such exorbitant ticket prices that 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 protection 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."

"Collaborating with artists, the industry, and concertgoers, we aim to establish a more equitable system that eliminates the problems of scalpers and overpriced resales, guaranteeing reasonably priced tickets."

What is dynamic pricing?

Introduced by Ticketmaster in 2022, this system adjusts prices based on demand.

The measure was implemented to prevent scalping and to make sure that a greater portion of earnings reaches the artists.

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

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

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

The dynamic pricing system aims to ensure that fans can purchase 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 the responsibility for setting ticket prices and deciding on the use of dynamic pricing for their events lies with the artists, their management teams, and the promoters.

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Cabinet member Lucy Powell experienced the impact of dynamic pricing this past Saturday, ultimately 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 secondary marketplaces, and we have already intervened with prominent resale platforms to verify adherence to consumer protection laws.

"We believe that additional safeguards for consumers are essential, and it's encouraging that the government is keen to tackle this issue. We are eager to collaborate with them to achieve optimal results for supporters and businesses that compete fairly."

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The announcement of the band getting back together was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely employed across various sectors, not just music, and is particularly prevalent in the travel sector 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 informed Stereogum of his desire for artists to have the option to withdraw from the system and set their own prices for sales.

Ticketmaster has been contacted for a statement.

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