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

Sky-high Oasis concert ticket prices prompt dismay; government vows to scrutinize variable pricing practices

"Time to look back in anger," declared an 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 vowed to investigate the practice of dynamic ticket pricing following reports that prices for the Oasis reunion tour tickets surged dramatically during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," and announced that spike pricing will be considered in a government examination of 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 one of next year’s comeback concerts.

After enduring long lines and extensive delays, numerous individuals found that the ticket prices were significantly higher than the original cost.

Many voiced their frustration online after tickets originally priced at £148 appeared on Ticketmaster for £355 just hours after they went on sale, a surge attributed to the dynamic pricing models used.

During a weekend address, Ms. Nandy stated that the government would review problems related to queuing systems that encourage queueing, as part of an impending consultation.

She expressed disappointment, noting, "Following the exhilarating announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices preventing 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 measures to protect consumers in the secondary ticket market, we plan to address concerns related to transparency and the application of dynamic pricing, as well as the technologies that support queue systems which encourage this practice."

"By collaborating with artists, the industry, and concertgoers, we aim to develop a more equitable system that eradicates the problems of scalping and overpriced ticket resales, guaranteeing reasonably priced tickets for all."

What is dynamic pricing?

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

It was implemented to prevent scalping and to make sure that a larger share of profits goes directly to the artists.

Fundamentally, when ticket demand is high and availability 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 ticket prices and provided a link to a website explaining that prices could be either "fixed or determined by the market".

Ticketmaster's own site characterizes its "Platinum" tickets as those priced based on the principles of supply and demand.

The purpose of the dynamic pricing system is to ensure that fans have a fair and secure opportunity to purchase tickets, while allowing artists and event organizers to price tickets more in line with their actual market value.

The firm states that it is the artists, their teams, and 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 the effects of dynamic pricing on 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 equitable treatment when purchasing tickets on the secondary market, and we have initiated measures against prominent resale platforms to uphold consumer laws effectively.

"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 both fans and businesses that play by the rules."

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The announcement of the band's highly anticipated reunion was made official last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is also widely utilized in other sectors, notably in the travel industry, where it applies to hotel accommodations and flight reservations.

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Jack Antonoff, a regular collaborator with Taylor Swift, has previously expressed concerns about dynamic pricing.

He explained to Stereogum that his intention was for artists to have the option to withdraw from the system and set their own prices for their sales.

Efforts have been made to get a response from Ticketmaster.

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