Government to Review Ticket Pricing Amid Outcry Over Oasis Reunion Tour Costs

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

"Looks like it's time to look back in anger," commented an Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

Officials have pledged to investigate fluctuating ticket prices following a significant increase in the cost of tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the sale of overpriced Oasis tickets as "depressing," and announced that surge pricing would be addressed in a government examination of the secondary concert ticket market.

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.

After enduring both lines and long delays, numerous individuals were greeted with ticket costs significantly exceeding their original price.

People took to social media to voice their frustration when tickets originally priced at £148 were listed for £355 on Ticketmaster shortly after becoming available, a surge attributed to the platform's dynamic pricing models.

Over the weekend, Ms. Nandy stated that the government plans to review issues including the technology behind queuing systems that encourage it, in an upcoming consultation.

She expressed disappointment: "With Oasis announcing their comeback, it's disheartening to witness the exorbitant ticket prices preventing average fans from experiencing their beloved band in concert."

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

"In our upcoming consultation on consumer protections for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, as well as the technologies involved in queue systems that encourage this practice."

"By collaborating with artists, the industry, and supporters, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced resales, guaranteeing reasonably priced tickets."

What is dynamic pricing?

Ticketmaster launched this pricing model that adjusts based on demand in 2022.

The measure was implemented to prevent scalping and to direct a greater share of earnings towards the performers.

When there's high demand for tickets and a limited number available, prices tend to increase.

In response to frustration about the cost of Oasis's tickets, the company clarified that it does not determine ticket pricing and provided a link to a website explaining that prices can be either "fixed or based on market demand".

On its official site, Ticketmaster characterizes its "Platinum" tickets as those priced based on the fluctuations of market supply and demand.

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

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

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Government official Lucy Powell was affected by surge pricing last 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 evaluation.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets through secondary markets, and we have already initiated measures against prominent ticket resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards for consumers are necessary, and it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to achieve the most favorable results for both fans and businesses that play by the rules."

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The news followed an announcement made last Tuesday by Noel and Liam Gallagher about the highly anticipated reunion of their band.

Dynamic pricing extends beyond the music sector, seeing frequent use in the travel industry for things like hotel accommodations and airfare.

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Jack Antonoff, a regular collaborator of 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 sales.

Attempts have been made to contact Ticketmaster for a statement.

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