Oasis Reunion Tour Ticket Fiasco Spurs Government Review on Dynamic Pricing

Sky-high prices for Oasis concert tickets have left fans disheartened; officials vow to examine fluctuating pricing strategies

"Reflecting on frustration," commented a fan of Oasis on social media, expressing discontent with the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

The government has committed to investigating fluctuating ticket prices following a sharp 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 concert tickets as "depressing," announcing that surge pricing will be examined in a governmental review focused on the resale of event 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.

After enduring the long lines and significant delays, many found that the ticket prices were substantially higher than their original cost.

There was noticeable frustration voiced on social platforms after tickets, initially priced at £148, surged to £355 on Ticketmaster shortly after going on sale, attributed to the dynamic pricing models employed.

Over the weekend, Ms. Nandy stated that the upcoming government consultation will address these concerns and the technology related to queue systems that encourage such behavior.

She expressed disappointment, stating: "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the steep rise in ticket prices, which prevents regular fans from experiencing their beloved band in concert."

"The administration is dedicated to recentering music around its fans."

"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 queuing systems that encourage its use."

"By collaborating with artists, the industry, and concertgoers, we aim to establish a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for all."

What does dynamic pricing mean?

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

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

When ticket demand is high and availability is low, prices tend to increase.

In response to backlash regarding the cost of tickets for Oasis's events, the organization clarified that they do not determine pricing. They also provided a link to a webpage explaining that prices might be "set or subject to market fluctuations."

Ticketmaster's official site explains that the pricing of its "Platinum" tickets fluctuates based on the principles of supply and demand.

The text explains 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 prices that reflect the actual market value of the tickets.

The firm states that it is the artists, their management, and event promoters who determine the prices and decide on the use of dynamic pricing for their events.

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Government official Lucy Powell was affected by dynamic pricing this Saturday, ultimately paying over twice the initially quoted price for a ticket to an Oasis concert.

The Competition and Markets Authority (CMA) has expressed support for the government's decision to initiate a review.

A representative stated: "It's important to us that fans experience fair pricing when purchasing tickets from secondary outlets, and we've taken steps against key resale platforms to enforce compliance with consumer protection laws.

"We believe additional safeguards should be implemented for consumers, and it's encouraging that the government is taking steps 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 Gallagher brothers, Noel and Liam, announced last Tuesday that their band is set to reunite after a long hiatus.

Dynamic pricing is widely adopted across various sectors, not just in music, but also extensively in the travel industry, including for hotel accommodations and airfare.

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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 desired for artists to have the option to withdraw from the system and set their own prices for sales.

Ticketmaster has been contacted for a response.

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