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

Sky-high costs for Oasis reunion tickets leave fans dismayed; officials vow to examine fluctuating pricing strategies

"Reflecting on this with frustration," commented a fan on social media, expressing disappointment over the ticketing process for the eagerly awaited tour.

Monday, September 2, 2024 12:44

The administration has pledged to investigate fluctuating ticket prices following reports that ticket costs for the Oasis reunion tour surged more than 100% during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," and mentioned that surge pricing will be considered in a governmental examination of the secondary market for event ticket sales.

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

After enduring the long lines and extensive delays, numerous individuals were confronted with ticket prices significantly exceeding their original cost.

People voiced their frustration on social media after seeing tickets, originally priced at £148, being resold for £355 on Ticketmaster shortly after they were made available, a result of the platform's dynamic pricing strategy.

During her weekend address, Ms. Nandy declared that the government will explore problems including "technologies that promote queuing systems" in a forthcoming consultation.

She expressed disappointment, noting, "With Oasis announcing their comeback, it's disheartening to witness the exorbitant ticket prices which prevent regular 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 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 behind queue systems that encourage it."

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

What does dynamic pricing mean?

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

The measure was implemented to prevent scalping and to direct more profits towards the performers.

Typically, when ticket demand is high and availability is low, prices tend to increase.

In response to the uproar regarding the cost of Oasis's concert tickets, the organization clarified that they do not determine the pricing themselves and provided a link to a website explaining that the prices could either be set at a standard rate or adjusted according to market demand.

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

The dynamic pricing system aims to provide fans with a fair and secure way to purchase tickets, and allows artists and event organizers to set prices that more accurately reflect the true market value.

The company states that the responsibility for setting prices and deciding on the use of dynamic pricing for their events lies with the artists, their management teams, and the event promoters.

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Cabinet member Lucy Powell was affected by 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 from secondary outlets, and we have already initiated measures against prominent resale platforms to enforce compliance with consumer protection laws.

"We believe additional safeguards should be implemented for consumers, and it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to secure favorable results for supporters and honest businesses."

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The news follows last Tuesday's announcement by Noel and Liam Gallagher that the much-anticipated reunion of the band is set to take place.

Dynamic pricing extends to various sectors beyond music, notably within the travel industry, where it is often 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 he wished 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 statement.

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