Politics
Government to Review Ticket Pricing Amid Outrage Over Oasis Reunion Tour Costs
Sky-high Oasis concert ticket prices leave fans dismayed; government to reevaluate variable pricing strategies
"Time to look back in anger," lamented 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 pledged to investigate fluctuating ticket prices following a significant increase in the cost of tickets for the Oasis reunion tour during the sales period.
Culture Secretary Lisa Nandy expressed dismay over the high prices of Oasis concert tickets, labeling the situation as "depressing." She mentioned that the issue of surge pricing will be addressed in an upcoming government examination of the secondary market for concert tickets.
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.
Nonetheless, after enduring the long lines and extensive delays, numerous individuals encountered ticket costs significantly exceeding their original prices.
Many took to social media to voice their frustration after finding that tickets initially priced at £148 were listed for £355 on Ticketmaster shortly after going on sale, a surge attributed to the dynamic pricing models employed.
Over the weekend, Ms. Nandy stated that the government would explore these concerns and the technology behind queue systems that encourage them in a forthcoming consultation.
She commented, "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the skyrocketing 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."
"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology supporting queuing mechanisms that encourage this practice."
"By collaborating with artists, the industry, and concertgoers, we aim to establish a more equitable framework that eliminates the problems of scalpers and overpriced ticket resales, guaranteeing fairly priced tickets for everyone."
What does dynamic pricing mean?
This system, which adjusts prices based on demand, was rolled out by Ticketmaster in 2022.
The measure was introduced to prevent scalping and to ensure that a greater portion of earnings goes to the artists.
Basically, when many people want tickets and there aren't many available, the prices tend to increase.
In response to frustration about the cost of Oasis tickets, the company clarified that they do not determine the pricing, and provided a link to a website explaining that prices may be "set or fluctuate based on the market."
According to its official website, Ticketmaster states that the prices of its "Platinum" tickets fluctuate based on market supply and demand.
The purpose of the dynamic pricing system, according to the statement, is to ensure that tickets are accessible to fans in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their actual market value.
The firm states that it is the artists, along with their management and promoters, who determine the prices and decide if dynamic pricing will be implemented for their events.
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Cabinet member Lucy Powell fell victim to surge pricing this past Saturday, ultimately paying over twice the initially stated price for a ticket to an Oasis 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 fair 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 additional safeguards for consumers are essential, so it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to achieve the most favorable results for supporters and businesses that play by the rules."
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The announcement of the band's much-anticipated reunion was made by Noel and Liam Gallagher last Tuesday.
Dynamic pricing is widely utilized across various sectors, not just in music, but also notably in the travel industry, including for hotel accommodations and airline fares.
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Jack Antonoff, who often works with Taylor Swift, has expressed concerns about dynamic pricing in the past.
He informed Stereogum of 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 response.
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