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

Sky-high Oasis concert ticket costs 'disheartening' – government vows to examine fluctuating pricing strategies

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

Monday, September 2, 2024 12:44

The government has pledged to investigate the practice of dynamic ticket pricing following a significant increase in the prices of tickets for the Oasis reunion tour while they were being sold.

Culture Secretary Lisa Nandy labeled the exorbitant pricing of Oasis concert tickets as "depressing," and announced that dynamic pricing strategies would be examined in an upcoming government review of the secondary ticket market for live events.

On Saturday, enthusiasts of the globally popular 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 individuals encountered ticket costs significantly exceeding their original prices.

Outrage spread across social media when tickets, originally priced at £148, skyrocketed to £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government would examine these concerns and the technology that promotes queuing systems in a forthcoming consultation.

She expressed disappointment: "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the skyrocketing 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 transparency 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 supporters, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced resales, guaranteeing fairly priced tickets for everyone."

What is dynamic pricing?

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

It was implemented to prevent scalping and to direct more revenue towards the performers.

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

In response to frustration regarding the cost of Oasis's tickets, the company clarified that they do not determine the pricing, and provided a link to a website explaining that prices might be "set or fluctuate based on the market."

On its official website, Ticketmaster characterizes its "Platinum" tickets as those whose prices fluctuate based on market demand and availability.

The dynamic pricing system aims to ensure that fans can buy tickets fairly and securely, while allowing artists and event organizers to price tickets more accurately according to their actual market value.

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

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Cabinet member Lucy Powell fell victim to surge pricing last Saturday, ending up paying over twice the initially quoted price for a ticket to see Oasis perform.

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 markets. We have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws."

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

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The Gallagher brothers, Noel and Liam, announced last Tuesday that their band will be reuniting after much anticipation.

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

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Jack Antonoff, known for his frequent collaborations with Taylor Swift, has expressed concerns about dynamic pricing in the past.

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.

Efforts have been made to contact Ticketmaster for a response.

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