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

Skyrocketing prices for Oasis concert tickets are 'disheartening,' prompting government review of fluctuating pricing models

"Time to revisit our frustrations," posted an Oasis enthusiast on social media, expressing displeasure over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has pledged 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 referred to the high prices of Oasis concert tickets as "depressing" and announced that surge pricing would be considered in the government's evaluation 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 comeback concerts.

After enduring the long lines and extensive delays, numerous individuals encountered ticket costs significantly exceeding the original price.

Users voiced their frustration online when they discovered that tickets initially priced at £148 were being resold for £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy revealed plans for a government consultation that will examine these concerns and the technology that promotes queuing systems.

She expressed her disappointment, stating, "With Oasis announcing their comeback, it's disheartening to witness such exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering music fans at the core of the industry."

"In our upcoming discussion on consumer protections for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, along with the technology underpinning queuing systems that promote it."

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

What exactly is dynamic pricing?

This pricing strategy, which adjusts prices based on demand, was rolled out by Ticketmaster in 2022.

It was implemented to prevent scalping and to direct a larger share of earnings towards the artists.

When the demand for tickets is high and their availability is limited, prices tend to increase.

In response to frustration surrounding 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 "fixed or subject to market fluctuations."

On its official site, Ticketmaster characterizes its "Platinum" tickets as ones whose prices fluctuate based on market dynamics.

The text indicates 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 are more aligned with their actual market value.

The firm asserts that it is the artists, their management, and event organizers 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 surge pricing this past Saturday, ending up paying over twice the initially quoted price for a ticket to see Oasis perform.

The Competition and Markets Authority (CMA) has expressed support for the government's decision to conduct a review.

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 additional safeguards are essential for consumers in this situation, so it's encouraging that the government is taking steps to tackle the issue. We are eager to collaborate with them to achieve optimal results for supporters and ethical companies."

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

Dynamic pricing is widely utilized across various sectors, not just in music, but also extensively in the travel industry for hotel accommodations and flights.

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Jack Antonoff, a regular collaborator of Taylor Swift, has previously expressed concerns about dynamic pricing.

He explained to Stereogum that he hoped artists would have the freedom to exit the system and set their own prices for sales.

Ticketmaster has been contacted for a response.

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