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

Sky-high prices for Oasis concert tickets leave fans disheartened; government to reevaluate fluctuating pricing strategies

"Time to revisit 'Don't Look Back in Anger'," commented a disenchanted Oasis enthusiast on social media, expressing frustration over the ticketing process for the much-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 passes for the Oasis reunion tour during their sale.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis tickets as "depressing," announcing that surge pricing will be addressed in the government's examination of the secondary market for concert tickets.

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

After enduring long lines and significant delays, numerous attendees were confronted with ticket costs that greatly exceeded their original prices.

Numerous individuals voiced their frustration online after observing that tickets initially priced at £148 were being resold for £355 on Ticketmaster shortly after they went on sale, a result of the dynamic pricing strategies employed.

Over the weekend, Ms. Nandy stated that the government will review particular matters including the technology that supports queuing systems, which currently encourage it, in a forthcoming consultation.

She expressed disappointment, stating, "With the thrilling 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."

"Our upcoming consultation on consumer protections for ticket resales will address concerns related to the transparency and application of dynamic pricing, as well as the technologies that support queuing systems which encourage this practice."

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

What does dynamic pricing mean?

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

The measure was introduced to prevent scalping and to direct more revenue towards the performers.

When there's high demand and a scarce supply of tickets, prices tend to increase.

In response to frustration regarding the cost of Oasis's tickets, the company clarified that it does not determine pricing and provided a link to a website explaining that prices could be either "fixed or subject to market fluctuations."

Ticketmaster's own website outlines that the pricing of its "Platinum" tickets fluctuates based on the principles of supply and demand.

The dynamic pricing system aims to provide fans with equitable and secure ticket access, while allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm states 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 Saturday, ultimately paying over twice the initial price quoted for a ticket to see Oasis perform.

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

A representative stated: "Our aim is for fans to receive just treatment when purchasing tickets from resale platforms, and we have already initiated measures against prominent ticketing websites to enforce compliance with consumer protection laws.

"We believe that additional safeguards are necessary for consumers in this area, so it's encouraging that the government is willing to tackle the 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 much-anticipated reunion was made public last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely adopted in various sectors, not just music, and is particularly prevalent in the travel industry for hotel accommodations and flight bookings.

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Jack Antonoff, who often works with Taylor Swift, has expressed concerns about dynamic pricing in the past.

He explained to Stereogum that he wishes for artists to have the option to exit the system and set their own prices for their sales.

Attempts have been made to reach Ticketmaster for a statement.

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