Oasis Reunion Tour Ticket Price Surge Sparks Government Review on Dynamic Pricing

Sky-high costs for Oasis concert tickets dishearten fans; government to examine variable pricing strategies

"Time to revisit our grievances," commented a fan 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 variable ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during their sale period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in the government's upcoming assessment of the secondary ticket market for live events.

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 long lines and extended delays, numerous attendees were confronted with ticket prices significantly exceeding their original cost.

Many voiced their frustration online after Ticketmaster listed tickets, originally priced at £148, for £355 just hours after they went on sale, attributing the sharp increase to the platform's dynamic pricing model.

Over the weekend, Ms. Nandy stated that the government will examine these problems and the technology that promotes queueing systems in a forthcoming consultation.

She expressed disappointment, stating, "It’s disheartening that following the thrilling announcement of Oasis’s comeback, the excessively high ticket prices are preventing regular fans from experiencing their beloved band in concert."

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

"In our upcoming consultation on consumer protections for ticket resales, we plan to address matters concerning the transparency and application of dynamic pricing, as well as the technology associated with queuing systems that promote it."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing fairly 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 introduced to prevent scalping and to guarantee that a greater share of the profits reaches the artists.

When demand for tickets is high and supply 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 the pricing and provided a link to a website explaining that prices might be "set or subject to market fluctuations".

Ticketmaster's website explains that the price of its "Platinum" tickets fluctuates based on market dynamics such as supply and demand.

The objective of the dynamic pricing system is to ensure that fans can obtain tickets fairly and securely, 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, along with their management and concert 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, ultimately paying over twice the initially quoted price for a ticket to see Oasis in 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 equitable treatment when purchasing tickets from secondary outlets, and we have initiated measures against prominent ticket resale platforms to enforce compliance with consumer protection laws.

"We believe that consumers require additional safeguards, so it's encouraging that the government is keen 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 news followed the announcement made last Tuesday by Noel and Liam Gallagher about the much-anticipated reunion of the band.

Dynamic pricing is widely utilized across various sectors, notably in the travel industry, where it is commonly applied to hotel accommodations and flight reservations.

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Jack Antonoff, known for his frequent collaborations 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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