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

Sky-high prices for Oasis reunion tour tickets frustrate fans; government to investigate flexible pricing strategies

"Time to look back in anger," posted an Oasis enthusiast on social media, expressing frustration over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

Officials have pledged to investigate the practice of variable ticket pricing following a sharp increase in prices for the Oasis reunion tour tickets during their sale.

Culture Secretary Lisa Nandy labeled the exorbitant pricing of Oasis tickets as "depressing" and announced that surge pricing will be examined in a government analysis of the secondary concert ticket market.

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

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

Many voiced their frustration online after tickets, originally priced at £148, were listed for £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government plans to review certain problems, including the technology that encourages queuing systems, in a forthcoming consultation.

She stated: "With the exciting announcement of Oasis's 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 around its fans."

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

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

What does dynamic pricing mean?

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

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

When ticket demand is high and supply is limited, prices tend to increase.

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

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

The dynamic pricing system aims to ensure that tickets are accessible and safe for fans, while also allowing artists and event organizers to price tickets more accurately according to their actual market value.

The firm asserts 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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Government official Lucy Powell was affected by fluctuating ticket prices last Saturday, ultimately paying over twice the initial price quoted for a ticket to an Oasis concert.

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

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

"We believe that consumers require 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 announcement of the band's highly anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely adopted across various sectors, notably 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 previously expressed concerns about dynamic pricing.

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

Attempts have been made to reach Ticketmaster for a statement.

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