Oasis Reunion Tour Ticket Fiasco Sparks Government Review on Dynamic Pricing

Sky-high Oasis concert ticket costs cause dismay; officials vow to examine variable pricing strategies

"Time to revisit our frustration," expressed a fan of Oasis on social platforms, voicing displeasure over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024 12:44

The government has pledged to investigate the practice of dynamic ticket pricing following a significant increase in the price 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," announcing that surge pricing will be examined in a government 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 comeback concerts.

Nevertheless, once they endured the long lines and extended delays, numerous individuals encountered ticket costs significantly exceeding their original price.

There was considerable frustration voiced online when tickets originally priced at £148 appeared on Ticketmaster for £355 just hours after they went on sale, a result of the platform's dynamic pricing strategy.

During her weekend address, Ms. Nandy declared that upcoming government consultations would investigate these matters, including the technology behind queue systems that encourage such behavior.

She expressed disappointment, stating, "Following the exciting announcement of Oasis reuniting, 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 in the music experience."

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and implementation of dynamic pricing, as well as the technological aspects of queue systems that encourage its use."

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

What does dynamic pricing mean?

This system, which adjusts prices according to demand, was launched by Ticketmaster in 2022.

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

When ticket demand is high and availability is low, 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, providing a link to a website explaining that prices may be "set or subject to market fluctuations".

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

The purpose of the dynamic pricing system is to ensure that fans can purchase 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 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 this past Saturday, ultimately paying over twice the initially quoted price for a ticket to an Oasis concert.

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

A representative stated: "Our goal is for fans to receive reasonable treatment when purchasing tickets from secondary outlets. We have taken measures against significant resale platforms to guarantee compliance with consumer protection laws."

"We believe that additional safeguards for consumers are essential, and it's encouraging to see that the government is taking steps to tackle this issue. We are eager to collaborate with them to achieve favorable results for both fans and businesses that play by the rules."

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

Dynamic pricing is also prevalent in other 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, who often works with Taylor Swift, has previously expressed concerns about dynamic pricing.

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

Efforts have been made to reach Ticketmaster for a statement.

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