Oasis Reunion Tour Spark Fury Over Skyrocketing Ticket Prices; Government Pledges Dynamic Pricing Review

Sky-high Oasis reunion tour ticket costs 'disheartening,' says government, with plans to examine variable pricing strategies

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

Monday, September 2, 2024, 12:

The government has vowed to investigate 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 tickets as "depressing" and announced that surge pricing will be considered in a governmental evaluation 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 one of next year's highly anticipated comeback concerts.

Yet, after enduring the long lines and extensive delays, numerous individuals encountered ticket costs significantly above the original price.

Many voiced their frustration online after tickets originally priced at £148 were being resold for £355 on Ticketmaster just hours after they became available, a result of the dynamic pricing systems in use.

Over the weekend, Ms. Nandy stated that the government would explore these matters and the technology that promotes queuing systems in a forthcoming consultation.

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

"The administration is dedicated to re-centering music around its fans."

"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 supporting queuing systems that encourage this practice."

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

What does dynamic pricing mean?

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

It was implemented to prevent scalping and to direct a larger share of profits towards the performers.

When ticket demand is high and supply is limited, 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 influenced by the market."

On its official site, Ticketmaster explains that the prices of its "Platinum" tickets fluctuate based on market demand and availability.

The text explains that the purpose of the dynamic pricing system is to ensure that fans can buy tickets in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The company asserts that it is the artists, along with their management and promoters, who determine the prices and decide if dynamic pricing will be implemented for their events.

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Cabinet member Lucy Powell was impacted by surge pricing last 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 a government review.

A representative stated: "Our goal is for supporters to receive equitable treatment when purchasing tickets from secondary vendors. We have taken steps against prominent ticket resale platforms to make sure they comply with consumer protection laws."

"We believe additional safeguards are necessary for consumers, so it's encouraging that the government is taking initiative to tackle this issue. We are eager to collaborate with them to achieve optimal results for supporters and businesses that play by the rules."

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The announcement of the band's much-anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing extends to various sectors, notably within the travel industry, where it is regularly applied to hotel accommodations and flights.

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Jack Antonoff, a regular collaborator 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 exit the system and set their own prices for their work.

Efforts have been made to contact Ticketmaster for a statement.

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