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

Sky-high costs for Oasis concert tickets 'disheartening' – authorities pledge to examine fluctuating pricing models

An Oasis enthusiast expressed frustration on social media, quoting "Time to look back in anger," in response to the exorbitant pricing of tickets for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has vowed to investigate the practice of dynamic ticket pricing following reports that ticket prices for the Oasis reunion tour surged by over 100% during the sales period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing" and announced that dynamic pricing strategies would be examined in a government assessment of the secondary ticket sales industry.

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

After enduring the long lines and extended delays, numerous individuals found themselves confronted with ticket costs significantly exceeding the original price.

People took to social media to vent their frustration when tickets originally priced at £148 were listed for £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform's dynamic pricing strategies.

During a weekend address, Ms. Nandy revealed plans for a government consultation that will explore various issues, including the technology behind queue management systems that encourage queuing.

She expressed disappointment, stating, "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices that prevent everyday 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 regarding the transparency and application of dynamic pricing, as well as the technology supporting queuing mechanisms that promote it."

"By collaborating with artists, the industry, and concertgoers, we can establish 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 strategy, which adjusts prices based on consumer demand, was rolled out by Ticketmaster in 2022.

The measure was introduced to prevent scalping and to direct a greater share of profits towards the performers.

Typically, when tickets are in high demand and the availability is low, their prices tend to increase.

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

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

The text explains that the purpose of the dynamic pricing system 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 worth.

The company states that it is the artists, along with their management and promoters, who establish the prices and decide if dynamic pricing is implemented for their events.

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Government official Lucy Powell fell victim to surge pricing last 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 sites to enforce compliance with consumer protection laws."

"We believe additional safeguards for consumers are essential, and it's encouraging that the government is eager to tackle this issue. We are optimistic about collaborating with them to achieve the most favorable results for both fans and businesses committed to fairness."

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

Dynamic pricing is widely adopted in sectors other than music, particularly in the travel industry, where it is commonly applied to hotel accommodations and airfare.

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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 his goal was 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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