Government to Review Ticket Pricing Amid Oasis Tour Outrage: Fans and Officials Decry Dynamic Pricing Impact

Skyrocketing prices for Oasis concert tickets leave fans disheartened; government to examine variable pricing strategies

"Time to look back in anger," posted a disenchanted Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The government has committed to investigating the practice of dynamic ticket pricing, following reports that prices for the Oasis reunion tour tickets surged by over 100% 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 evaluation of the secondary market for event tickets.

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

Yet, after enduring long lines and extended delays, numerous individuals encountered ticket costs significantly exceeding their original prices.

Many took to social media to voice their frustration after tickets initially priced at £148 were listed for £355 on Ticketmaster just hours after they went on sale, a surge attributed to the platform's dynamic pricing mechanisms.

During a weekend address, Ms. Nandy revealed plans for a forthcoming government consultation to examine problems including the technology behind queue systems that encourage queuing.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the 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 discussion on consumer protection measures for ticket resales, we plan to address concerns related to the openness and application 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 establish a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing fairly priced tickets for everyone."

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 increase the financial returns for artists.

Basically, when many people want tickets and there aren't enough available, prices tend to increase.

In response to the uproar concerning the cost of tickets for Oasis, the company clarified that they do not determine ticket prices and provided a link to a website explaining that prices may be "set or subject to market fluctuations."

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

The text explains that the objective 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 actual market value.

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

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Cabinet member Lucy Powell experienced surge pricing this 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 a fair price when purchasing tickets from secondary markets, and we have taken steps against prominent resale platforms to make sure they comply with consumer protection laws.

"We believe additional safeguards are necessary for consumers, and it's encouraging that the government is aiming 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 by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely employed in sectors beyond music, notably in the travel industry, where it is commonly applied to hotel accommodations and flights.

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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 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 obtain a statement from Ticketmaster.

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