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

Skyrocketing Oasis ticket costs labeled 'disheartening' – officials vow to examine fluctuating pricing strategies

"Time to reflect in frustration," posted an Oasis enthusiast on social media, expressing discontent with the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has vowed to investigate the practice of dynamic ticket pricing following a surge in prices for the Oasis reunion tour, where ticket costs more than doubled during the sale period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis tickets as "depressing," announcing that surge pricing will be considered in a governmental examination of the secondary concert ticket market.

On Saturday, enthusiasts of the globally renowned music group spent hours in online lines, eagerly trying to secure tickets for one of next year's comeback concerts.

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

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

Over the weekend, Ms. Nandy declared that the government will examine issues including the technology behind queuing systems that promote it in a forthcoming consultation.

She expressed disappointment following the announcement of Oasis's reunion, noting that the exorbitantly high ticket prices are preventing regular fans from experiencing their beloved band in concert.

"The administration is dedicated to re-centering music around its fans."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address matters concerning the transparency and implementation of dynamic pricing as well as the technologies that support queuing systems that encourage this practice."

"By collaborating with artists, the industry, and fans, we can develop a more equitable framework that eliminates the problems of scalpers and overpriced resales, ensuring tickets are sold at reasonable prices."

Dynamic pricing, also known as demand-based pricing, was implemented by Ticketmaster in 2022.

The measure was implemented to prevent scalping and to increase the revenue artists receive.

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

In response to frustration regarding the cost of tickets for Oasis, the company clarified that they do not determine the pricing, and provided a link to a website explaining that prices may be "set or subject to market fluctuations".

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

The dynamic pricing system aims to ensure that fans can buy tickets securely and at a reasonable price while allowing artists and live event organizers to set prices that reflect the actual market value.

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

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Cabinet member Lucy Powell experienced the impact of dynamic pricing this past 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 already intervened with prominent resale platforms to guarantee compliance with consumer protection laws."

"We believe that additional safeguards are necessary for consumers, and it's encouraging that the government is aiming to tackle this issue. We are eager to collaborate with them to achieve optimal results for supporters and businesses that play by the rules."

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

Dynamic pricing is widely utilized in various sectors, not just music, including the travel industry where it is often applied to hotel accommodations and flights.

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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 goal was 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 response.

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