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

Sky-high Oasis concert ticket costs 'disheartening' – government vows to reassess variable pricing

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

Monday, September 2, 2024, 12:

The authorities have committed to investigating fluctuating ticket prices following a significant increase in the cost of tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that dynamic pricing strategies would be examined in a government evaluation of the secondary ticket market for live events.

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

After enduring lengthy lines and significant waiting times, numerous attendees were confronted with ticket prices substantially exceeding their original value.

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

During a weekend address, Ms. Nandy revealed plans for a forthcoming government consultation to examine specific problems, including the technology that supports queuing systems and potentially encourages them.

She expressed disappointment, stating, "Following the exhilarating announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering music around its fans."

"In our upcoming discussion on consumer protection measures for ticket resale, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technologies supporting queue systems that promote this practice."

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

What does dynamic pricing mean?

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

The measure was introduced to prevent scalping and to direct a greater share of earnings towards the performers.

When there's high demand for tickets and they are in short supply, 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 ticket pricing, directing attention to a website explaining that prices may be "set or fluctuate based on the market."

On Ticketmaster’s official site, the company defines "Platinum" tickets as those priced based on fluctuations in demand and availability.

The objective of the dynamic pricing strategy is to ensure that fans can purchase tickets fairly and securely, while also allowing performers and event organizers to set ticket prices that more accurately reflect their market value.

The firm states that it is the artists, along with their management and promoters, 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 last Saturday, and ended up paying over twice the initially quoted price for a ticket to see Oasis perform.

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

A representative stated: "It's important to us that fans experience fair pricing when purchasing tickets from secondary markets. We have initiated measures against prominent ticket resale platforms to enforce compliance with consumer laws."

"We believe that additional safeguards for consumers are necessary, 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 supporters and ethical businesses."

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The announcement of the band's highly anticipated reunion was confirmed by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely used in several sectors besides music, particularly in the travel industry, where it is commonly applied to hotel accommodations and flight reservations.

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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 withdraw from the system and set their own prices for sales.

Efforts have been made to get a response from Ticketmaster.

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