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

Skyrocketing Oasis concert ticket prices 'disheartening' – officials pledge to examine fluctuating pricing strategies

"Time to reflect on our frustration," expressed an Oasis enthusiast on social media, voicing displeasure over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024 12:44

The administration has committed to investigating the practice of variable ticket pricing following reports that prices for the Oasis reunion tour tickets surged by over 100% during the sale period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis tickets as "depressing," announcing that surge pricing will be examined in a governmental review targeting the resale of concert tickets.

On Saturday, followers of the globally renowned music group spent hours in online lines, eager to secure tickets for one of next year's highly anticipated comeback concerts.

Yet, after enduring long lines and extensive delays, numerous individuals encountered ticket costs that significantly exceeded their original price.

People took to social media to vent their frustration after tickets initially priced at £148 were being resold on Ticketmaster for £355 shortly after they were released, a result of the dynamic pricing models employed.

Over the weekend, Ms. Nandy stated that an upcoming government consultation would examine these problems and the technology behind queuing systems that encourage them.

She expressed disappointment, stating, "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the steep rise in ticket prices, which prevents regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans at the core of the music experience."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address matters concerning the transparency and application of dynamic pricing, as well as the technologies supporting queuing systems that promote it."

"By collaborating with artists, the industry, and enthusiasts, we can develop an equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for all."

What is dynamic pricing?

Ticketmaster rolled out this demand-driven pricing strategy in 2022.

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

When there's high demand and scarce availability of tickets, prices tend to increase.

In response to the uproar regarding the cost of tickets for Oasis, the company clarified that they do not determine ticket prices and provided a link to a website explaining that prices could be "set or fluctuate based on the market."

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

The text explains that the purpose of the dynamic pricing system is to ensure that fans can obtain tickets in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their real market value.

The firm states that it is the artists, along with their management and event promoters, 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 fluctuating ticket prices this past Saturday, ultimately paying over twice the initial price for tickets to see Oasis in concert.

The Competition and Markets Authority (CMA) supported the announcement of the government's examination.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary markets, and we have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws.

"We believe that consumers need additional safeguards, so it's encouraging that the government is taking steps to tackle 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 news followed an announcement made last Tuesday by Noel and Liam Gallagher, confirming the highly anticipated reunion of their band.

Dynamic pricing is widely employed in various sectors, notably within the travel industry, where it is commonly applied to hotel accommodations and flight fares.

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Jack Antonoff, who often works with Taylor Swift, has previously expressed concerns about dynamic pricing.

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

Efforts have been made to get a statement from Ticketmaster.

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