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

Sky-high prices for Oasis concert tickets have fans feeling downhearted, prompting government intervention to examine fluctuating pricing practices. "Time to look back in anger," posted a disappointed fan on social media, reflecting widespread frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The authorities have 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 labeled the escalated prices of Oasis concert tickets as "depressing," and mentioned that surge pricing would be addressed in the government's upcoming examination of the secondary market for concert ticket sales.

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

After enduring long lines and extended waiting times, numerous attendees were confronted with ticket costs significantly exceeding their original price.

Outrage spread across social media when tickets originally priced at £148 were seen being resold for £355 on Ticketmaster shortly after they went on sale, a result of the dynamic pricing models employed.

Over the weekend, Ms. Nandy declared that the government will examine these matters and the technologies involved in queue management systems that encourage queuing, during a forthcoming consultation.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

The administration is dedicated to recentering music around its fans.

"In our upcoming consultation on consumer protections for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, as well as the technology supporting queuing systems that encourage it."

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

What does dynamic pricing mean?

This pricing strategy, which varies based on demand, was adopted by Ticketmaster in 2022.

It was implemented to prevent scalping and to increase the revenue directed towards the artists.

When tickets are in high demand and the supply is limited, prices tend to increase.

In response to the frustration regarding the cost of Oasis's concert tickets, the organization clarified that they do not determine the pricing. They also provided a link to a webpage explaining that ticket prices might be "set or subject to market fluctuations."

On its official site, Ticketmaster defines its "Platinum" tickets as those priced based on fluctuations in supply and demand.

The objective of the dynamic pricing system, according to the statement, is to ensure that fans can purchase tickets in a fair and secure manner. Additionally, it aims to allow artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm states that the decision on pricing and the use of dynamic pricing for shows is determined by the artists, their management teams, and the event promoters.

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Cabinet member Lucy Powell experienced the effects of dynamic pricing this past Saturday, paying over twice the initially quoted price for a ticket to see Oasis in concert.

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

A representative stated: "Our goal is for fans to receive reasonable treatment when purchasing tickets from secondary outlets, and we have initiated measures against prominent ticket reselling sites to enforce compliance with consumer protection laws."

"We believe additional safeguards for consumers are crucial, and 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 supporters and businesses that play by the rules."

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The news followed Noel and Liam Gallagher announcing last Tuesday that the band would finally be getting back together.

Dynamic pricing is widely used in various sectors, not just music, and is particularly prevalent in the travel industry for things like hotel accommodations and flight fares.

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

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

Efforts have been made to reach Ticketmaster for a statement.

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