High Notes, High Prices: Government to Review Dynamic Pricing Amid Oasis Ticket Outrage

Sky-high Oasis concert ticket costs dishearten fans; officials vow to examine fluctuating pricing strategies

"Time to look back in anger," commented an Oasis enthusiast on social media, voicing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024 12:44

The government has 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 skyrocketing prices of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in a government evaluation of the secondary market for concert ticket sales.

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

Once they endured the long lines and extensive delays, numerous individuals encountered ticket costs significantly exceeding their original price.

There was a flurry of frustration voiced online after tickets, originally priced at £148, were listed for £355 on Ticketmaster shortly after going on sale, a spike attributed to the platform's dynamic pricing strategy.

During her weekend address, Ms. Nandy stated that in a forthcoming government review, there would be an examination of certain issues including the technology used in queuing systems that encourage such practices.

She expressed disappointment, stating: "It's disheartening that the comeback of Oasis comes with such exorbitant ticket prices, preventing regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans as the core of the music experience."

"In our upcoming public discussion on consumer protection measures for ticket reselling, we plan to address matters concerning the clarity and application of variable pricing, as well as the technologies that support queuing mechanisms which encourage this practice."

"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 is dynamic pricing?

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

The measure was implemented to prevent scalping and to increase the earnings of artists.

When there's high demand for tickets and a limited number available, 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 "set or fluctuate based on the market."

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

The text states 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 real market value.

The company states that the decision on ticket pricing and the use of dynamic pricing for their events is determined by the artists, their management teams, and the event promoters.

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Cabinet member Lucy Powell experienced the effects of dynamic pricing this past Saturday, ultimately paying over twice the initially stated 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 receive equitable treatment when purchasing tickets from secondary platforms, and we have initiated measures against prominent ticket resale sites to enforce compliance with consumer protection laws."

"We believe additional safeguards are essential for consumers in this area, so it's encouraging that the government is aiming to tackle the issue. We are eager to collaborate with them to achieve optimal results for supporters and ethical companies."

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The announcement of the band getting back together was made last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely used in sectors other than music, particularly in the travel industry, where it is applied to hotel accommodations and flight fares.

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Jack Antonoff, known for his frequent collaborations with Taylor Swift, has previously expressed concerns about dynamic pricing.

He expressed to Stereogum his desire for artists to have the option to exit the system and set their own prices for sales.

Efforts to reach Ticketmaster for a statement have been made.

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