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

Sky-high prices for Oasis concert tickets have left fans disheartened, prompting the government to reassess variable pricing strategies.

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

Monday, September 2, 2024, 12:

The government has committed to investigating the practice of variable ticket pricing following reports of a significant increase in the cost of tickets for the Oasis reunion tour during the sale period.

Culture Secretary Lisa Nandy labeled the sale of overpriced Oasis tickets as "depressing," noting that surge pricing will be considered in a government examination of the secondary concert ticket market.

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

After enduring long lines and extensive delays, numerous patrons were confronted with ticket costs significantly exceeding their original price.

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

Over the weekend, Ms. Nandy revealed plans for a forthcoming government consultation to explore various issues, including the technology behind queuing systems that encourage such practices.

She expressed disappointment, stating, "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness exorbitant ticket prices that 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 plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology behind queuing systems that promote it."

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

What does dynamic pricing mean?

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

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

When there is high demand for tickets and they are in short supply, prices tend to increase.

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

On its official site, Ticketmaster characterizes its "Platinum" tickets as those whose pricing fluctuates based on market dynamics.

The text indicates 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 value.

The firm states 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 fell victim to dynamic pricing last Saturday, ultimately paying over twice the initially quoted price for a ticket to an Oasis concert.

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 while purchasing tickets on the secondary market, and we have taken steps against significant resale platforms to guarantee 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 public last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely employed across various sectors, notably in the travel industry, where it is often applied to hotel accommodations and flight fares.

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Jack Antonoff, who often works 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.

Efforts to reach Ticketmaster for a response have been made.

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