Oasis Reunion Tour Ticket Fiasco Sparks Government Review on Dynamic Pricing

Sky-high Oasis concert ticket prices leave fans disheartened; government to investigate fluctuating pricing strategies

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

Monday, September 2, 2024, 12:

The government has pledged to investigate variable pricing strategies following a significant increase in the price of tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the sale of overpriced Oasis concert tickets as "depressing," announcing that dynamic pricing will be considered in a government examination of the resale market for live event tickets.

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

Nevertheless, after enduring the long lines and significant delays, several individuals encountered ticket costs that substantially exceeded their original prices.

Many voiced their frustration online after tickets, initially priced at £148, surged to £355 on Ticketmaster shortly after they went on sale, a result of the dynamic pricing models employed.

Over the weekend, Ms. Nandy revealed plans for a forthcoming government consultation that will examine certain problems, including the technology used in queuing systems that encourage such behavior.

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

"The administration is dedicated to re-centering music enthusiasts as the core focus of the 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 technology behind queue systems that encourage it."

"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, guaranteeing reasonably priced tickets for everyone."

What does dynamic pricing mean?

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

The measure was implemented to prevent scalping and to direct a greater share of profits towards the artists.

When demand for tickets is high and supply is low, prices tend to increase.

In response to rising frustration regarding the cost of tickets for Oasis, the firm clarified that it does not determine pricing, directing attention to a website indicating that prices could be "set or subject to market fluctuations".

Ticketmaster's website explains that the prices of "Platinum" tickets fluctuate based on the principles of supply and demand.

The text explains that the purpose of the dynamic pricing system is to ensure that fans can obtain 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 the responsibility for setting ticket prices and deciding on the use of dynamic pricing for their events lies with the artists, their management teams, and the event promoters.

Stay ahead with the latest Breaking News

Download the Sky News application at no cost

Cabinet member Lucy Powell experienced the effects of dynamic pricing this past Saturday, ultimately paying over twice the initially quoted price for a ticket to see Oasis.

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

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary markets, and we have taken measures against prominent reselling sites to enforce compliance with consumer protection laws."

"We believe additional safeguards are necessary for consumers in this area, so it's encouraging that the government is taking steps to tackle the issue. We are eager to collaborate with them to achieve optimal results for supporters and businesses that compete fairly."

Get further details from Sky News: The Cure's member battles uncommon cancer type; Samantha Fox found not guilty of wife assault.

The announcement follows after Noel and Liam Gallagher declared last Tuesday that the band will finally be reuniting.

Dynamic pricing is prevalent in various sectors, notably in the travel industry, where it is widely applied to hotel accommodations and airfare.

Stay ahead with the latest breaking news updates.

Download the Sky News application at no cost

Jack Antonoff, who often works with Taylor Swift, has expressed concerns about dynamic pricing before.

He expressed to Stereogum his desire for artists to have the option to exit the system and sell their work at their chosen price.

Ticketmaster has been contacted for a statement.

Associated Subjects

Sky News bottom section

Information about Sky News

Services Provided by Sky News

Sky Network Channels

Additional Sky Websites