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

Sky-high Oasis concert ticket prices labeled 'disheartening' – officials vow to examine fluctuating pricing strategies

"Time to revisit our anger," commented an Oasis enthusiast on social media, expressing frustration over the ticketing approach for the eagerly awaited reunion 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 dismay over the exorbitant prices of Oasis concert tickets, labeling the situation as "depressing." She mentioned that surge pricing would be examined in a forthcoming government review addressing the secondary market for concert ticket sales.

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 long lines and extensive delays, numerous individuals encountered ticket costs significantly exceeding their original price.

Outrage spread across social media after tickets initially priced at £148 were being resold for £355 on Ticketmaster shortly after they became available, a price hike attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government would examine these problems and the technology behind queue systems that encourage them in a forthcoming consultation.

She expressed disappointment, stating, "Following the exhilarating announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices that prevent average fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans as the core focus of the music industry."

"We plan to address concerns about the transparency and application of dynamic pricing, as well as the technology behind queue systems that promote it, in our upcoming discussion on enhancing consumer safeguards for ticket reselling."

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

What does dynamic pricing mean?

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

It was implemented to prevent scalping and to increase the revenue that goes directly to the artists.

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

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

Ticketmaster's official site explains that the pricing for its "Platinum" tickets fluctuates based on market conditions and availability.

The aim of the dynamic pricing system is to ensure that fans can buy tickets in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that reflect their actual market value.

The company states that the artists, along with their management and event promoters, are responsible for setting the prices and deciding if dynamic pricing will be applied to their events.

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On Saturday, government minister Lucy Powell was affected by dynamic pricing and ended up paying over twice the initially quoted price for a ticket to an Oasis concert.

The Competition and Markets Authority (CMA) expressed support for the government's announcement of a review.

A representative stated: "It is our intention for fans to receive reasonable treatment when purchasing tickets through resellers, and we have initiated measures against prominent ticket platforms to enforce compliance with consumer protection laws.

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

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

Dynamic pricing is widely employed in various sectors, not just in music. It is notably prevalent in the travel industry, particularly for pricing hotel accommodations and airline seats.

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Jack Antonoff, a regular collaborator with Taylor Swift, has previously mentioned that dynamic pricing poses a problem.

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

Attempts have been made to reach Ticketmaster for a statement.

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