Oasis Reunion Tour Ticket Price Surge Sparks Government Review of Dynamic Pricing Practices

Skyrocketing prices for Oasis concert tickets labeled 'disheartening' – officials vow to examine fluctuating pricing strategies

"Time to look back in anger," posted a fan of Oasis on social media, expressing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has pledged 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 sale of overpriced Oasis concert tickets as "depressing," announcing that surge pricing will be considered in a government examination of the secondary live event ticket market.

On Saturday, enthusiasts of the globally popular music group spent hours in online lines, eagerly attempting to secure tickets for the upcoming reunion concerts scheduled for next year.

Yet, after enduring the long lines and extended delays, numerous individuals encountered ticket prices significantly exceeding their original cost.

Many voiced their frustration online after observing that tickets initially priced at £148 were being listed for £355 on Ticketmaster shortly after they went on sale, a result of the dynamic pricing models in use.

During a weekend address, Ms. Nandy declared that the government would examine these problems and the technology behind queuing systems that encourage them in a forthcoming consultation.

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

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

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns regarding the transparency and application of dynamic pricing, as well as the technology behind queue systems that encourage its use."

"By collaborating with artists, the industry, and concertgoers, we aim to develop a more equitable system that eradicates the problems of scalpers and overpriced ticket reselling, guaranteeing reasonably priced tickets for all."

What does dynamic pricing mean?

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

The measure was implemented to prevent scalping and to increase the revenue flowing directly to the artists.

When a large number of people want tickets that are in short supply, their prices tend to increase.

In response to the frustration about the cost of Oasis's tickets, the company clarified that they do not determine the pricing, and provided a link to a website explaining that prices might be "set or subject to market fluctuations."

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

The purpose of the dynamic pricing system is to ensure that tickets are accessible and secure for fans, while also allowing artists and event organizers to price tickets more accurately according to their real 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 implemented for their events.

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Cabinet member Lucy Powell was affected 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 the government's evaluation.

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

"We believe additional safeguards should be implemented for consumers, and it's encouraging that the government is prepared to tackle this issue. We are eager to collaborate with them to achieve favorable results for both supporters and businesses that play by the rules."

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The news followed last Tuesday's announcement by Noel and Liam Gallagher that the band would be reuniting after a long hiatus.

Dynamic pricing is widely utilized in sectors other than music, particularly in the travel industry, where it commonly applies to hotel accommodations and airfares.

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Jack Antonoff, a regular collaborator of Taylor Swift, has previously expressed concerns about dynamic pricing.

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

Efforts have been made to obtain a statement from Ticketmaster.

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