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

Skyrocketing costs for Oasis concert tickets 'disheartening' – officials pledge to examine variable pricing strategies

"Time to revisit our frustration," commented a fan of Oasis on social media, expressing discontent with the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has committed to investigating the practice of variable ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during the sales period.

Culture Secretary Lisa Nandy expressed disappointment over the high prices of Oasis concert tickets, noting that the issue of surge pricing will be addressed in a government examination of the resale market for live 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.

Yet, after enduring the long lines and extended delays, numerous attendees were greeted with ticket costs significantly exceeding 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 result of the dynamic pricing models in use.

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

She commented, "It's disheartening that following the exciting announcement of Oasis's comeback, exorbitant ticket prices are preventing average fans from experiencing their favorite 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 matters concerning 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 establish a more equitable system that eliminates ticket scalping and overpriced resales, ensuring tickets are sold at reasonable prices."

What is dynamic pricing?

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

The measure was implemented to prevent scalping and to increase the revenue that artists receive.

When there's high demand and a scarce supply of tickets, prices tend to increase.

In response to the backlash 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 might be "set or subject to market fluctuations."

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

The text indicates that the purpose of the dynamic pricing system is to ensure that fans can purchase tickets both fairly and securely, while also allowing artists and event organizers to set ticket prices that more accurately reflect their real market value.

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

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On Saturday, government minister Lucy Powell was affected by surge pricing and ended up 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 in the resale market, and we have initiated measures against prominent ticket reselling platforms to enforce compliance with consumer protection laws."

"We believe that 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 optimal results for supporters and businesses that play by the rules."

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

Dynamic pricing is also prevalent in sectors other than music, notably in the travel industry, where it is regularly applied to hotel accommodations and airfare.

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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.

Ticketmaster has been contacted for a statement.

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