Politics
Government to Review Ticket Pricing Amid Outcry Over Oasis Reunion Tour Costs
Sky-high ticket costs for Oasis reunion spark outrage; officials vow to investigate fluctuating pricing strategies
"Time to revisit our frustration," commented a fan of Oasis on social media, expressing dismay over the ticketing process for the much-awaited comeback tour.
Monday, September 2, 2024, 12:
The administration has pledged to investigate variable ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during the sale period.
Culture Secretary Lisa Nandy labeled the escalated pricing of Oasis concert tickets as "depressing," announcing that such price surges would be examined in a government review targeting the resale of event tickets.
On Saturday, devotees of the globally renowned music group spent hours in online lines, eagerly attempting to secure tickets for next year's highly anticipated reunion concerts.
Yet, after enduring long lines and significant delays, numerous individuals encountered ticket costs that greatly exceeded the original price.
Many voiced their frustration online after tickets, initially priced at £148, surged to £355 on Ticketmaster shortly after going on sale, a hike attributed to the platform's dynamic pricing mechanisms.
Over the weekend, Ms. Nandy declared that the government plans to review issues including the technology that encourages queuing systems in a forthcoming consultation.
She expressed disappointment, stating: "With the thrilling announcement of Oasis's comeback, it's disheartening to witness such exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."
"This administration is dedicated to recentering music around its fans."
"In our upcoming discussion on consumer protection measures for ticket resales, we plan to cover topics related to the transparency and application of variable pricing strategies, as well as the technologies supporting queue systems that encourage such pricing."
"By collaborating with artists, the industry, and fans, we can develop a more equitable system that eradicates the issues of scalpers, exploitative reselling, and guarantees ticket pricing that is reasonable."
Dynamic pricing, which is a pricing strategy that fluctuates based on demand, was implemented by Ticketmaster in 2022.
The measure was implemented to prevent scalping and to increase the revenue that artists receive.
When there's high demand for tickets and a limited number available, prices tend to increase.
In response to the uproar about the cost of Oasis concert tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices could be either "fixed or subject to market fluctuations."
On its official website, Ticketmaster characterizes its "Platinum" tickets as those whose prices fluctuate based on market demand and availability.
The text explains that the purpose of the dynamic pricing system is to ensure that tickets are accessible to fans in a fair and secure manner, while also allowing artists and event organizers to set prices that reflect the actual market value of the tickets.
The business asserts 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 was affected by surge pricing this Saturday, ultimately 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 platforms, and we have initiated measures against prominent resale sites to enforce compliance with consumer protection laws.
"We believe that consumers require additional safeguards, so it's encouraging that the government is keen on tackling this issue. We are eager to collaborate with them to achieve optimal results for fans 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 adopted in sectors beyond the music industry, particularly prevalent in the travel sector for hotel accommodations and airfare.
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Jack Antonoff, who often works with Taylor Swift, has previously expressed concerns about dynamic pricing.
He expressed to Stereogum his desire for artists to have the option to exit the system and set their own prices for sales.
Efforts have been made to reach Ticketmaster for a statement.
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