Oasis Reunion Tour Ticket Fiasco Sparks Government Review on Dynamic Pricing

Sky-high Oasis concert ticket prices called 'disheartening,' as government vows to examine fluctuating pricing strategies

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

Monday, September 2, 2024, 12:

The administration has committed to investigating the practice of dynamic ticket pricing following reports that prices for tickets to the Oasis reunion tour surged by over 100% during the sales period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in a governmental evaluation of the secondary market for concert ticket sales.

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

After enduring the long lines and extensive delays, numerous attendees were confronted with ticket costs significantly exceeding their original prices.

Numerous individuals voiced their frustration online after observing that tickets, initially priced at £148, were being resold on Ticketmaster for £355 mere hours after they went on sale, a result of the dynamic pricing models employed.

Over the weekend, Ms. Nandy declared that in a forthcoming government consultation, they would examine issues including the technology used in queuing systems that encourage it.

She expressed disappointment, stating: "With Oasis making a comeback, it's disheartening to witness such steep ticket prices that prevent regular fans from experiencing their favorite band in concert."

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

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

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problems of scalpers and overpriced ticket resales, ensuring that tickets are sold at reasonable prices."

What does dynamic pricing mean?

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

The measure was introduced to prevent scalping and to guarantee that a greater portion of the revenue benefits the artists.

When there's high demand and a limited number of tickets available, prices tend to increase.

In response to the frustration surrounding 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 can be either "set or subject to market fluctuations".

On its official site, Ticketmaster defines its "Platinum" tickets as those whose prices fluctuate based on market demand and availability.

The aim of the dynamic pricing system, according to the statement, is to ensure that fans can purchase tickets in a fair and secure manner. This system also allows 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 promoters, who determine the prices and decide if dynamic pricing will be applied to their events.

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Cabinet member Lucy Powell experienced the impact of dynamic pricing this past Saturday, ending 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: "Our goal is for fans to receive a reasonable offer when purchasing tickets through the resale market, and we have already initiated measures against leading ticket reselling platforms to enforce compliance with consumer protection laws.

"We believe additional safeguards for consumers are essential, and it's encouraging that the government is seeking 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 by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely employed across various sectors, not just in music, but also notably in the travel industry for items like 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 informed Stereogum that he wished for artists to have the option to exit the system and set their own prices for their work.

Ticketmaster was contacted for a response.

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