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

Skyrocketing costs for Oasis concert tickets have left fans disheartened; officials vow to examine variable pricing strategies

"Looks like it's time to look back in anger," commented a fan of Oasis on social media, expressing frustration over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

Officials have pledged to investigate the practice of variable ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during their sale.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," noting that such surge pricing will be addressed in the government's examination of the resale market for event tickets.

On Saturday, enthusiasts of the globally renowned musical 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 substantially exceeding their original price.

Many took to social media to voice their frustration after tickets, originally priced at £148, were listed for £355 on Ticketmaster shortly after going on sale, a spike attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy declared that an impending government consultation would examine these problems, including the technology that encourages queuing systems.

She expressed disappointment, noting, "With Oasis announcing their comeback, it's disheartening to witness such exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering music around its fans."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns regarding the transparency and application of dynamic pricing, as well as the technology behind queuing systems that promote it."

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

What does dynamic pricing mean?

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

It was implemented to prevent scalping and to direct a larger share of earnings towards the performers.

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

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

Ticketmaster's official website explains that the pricing of its "Platinum" tickets varies based on market fluctuations in supply and demand.

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

The firm states that prices and the decision to use dynamic pricing for their events are determined by the artists, their management teams, and event promoters.

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Cabinet member Lucy Powell was affected by surge pricing last Saturday, ending up paying over twice the initially stated price for a ticket to an Oasis concert.

The Competition and Markets Authority (CMA) has expressed support for the government's decision to initiate a 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 against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe that consumers require additional safeguards, so it's encouraging to see the government taking steps to tackle this issue. We are eager to collaborate with them to secure favorable results for both fans and businesses that compete fairly."

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The Gallagher brothers, Noel and Liam, announced last Tuesday that their band will reunite after a long hiatus.

Dynamic pricing is not only prevalent in the music industry but is also widely utilized in the travel sector, particularly for pricing hotel accommodations and airline fares.

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Jack Antonoff, who often works with Taylor Swift, has expressed concerns about dynamic pricing in the past.

He explained to Stereogum that he wishes for artists to have the option to exit the system and set their own prices for their work.

Efforts have been made to contact Ticketmaster for a statement.

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