Oasis Reunion Tour Ticket Turmoil: Government to Review Dynamic Pricing Amid Fan Outcry

Sky-high Oasis concert ticket costs 'disheartening' – officials vow to examine fluctuating pricing models

"Time to reflect on the frustration," expressed an Oasis supporter on social media, voicing displeasure over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024 12:44

The government has committed to investigating the practice of variable ticket pricing, following a sharp increase in the price of tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis tickets as "depressing," announcing that surge pricing will be considered in an upcoming government examination of the secondary concert ticket market.

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

Yet, after enduring long lines and extended delays, numerous attendees encountered ticket costs significantly above the original price.

Outrage surfaced on social media after tickets, initially priced at £148, soared to £355 on Ticketmaster just hours after they were made available, a spike attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy declared that an impending government consultation would examine these problems and the technology related to queue systems that encourage them.

She commented, "Following the thrilling announcement of Oasis's reunion, it's disheartening to witness the exorbitant ticket prices that prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans at the core of the music experience."

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns about the transparency and application of dynamic pricing, as well as the technologies related to queuing mechanisms that promote it."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable model 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 direct a greater share of profits towards the artists.

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

In response to frustration about the cost of Oasis's concert tickets, the company clarified that they do not determine ticket prices and provided a link to a website explaining that prices could be "set at a fixed rate or based on market demand."

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

The intention behind the dynamic pricing system is to ensure that fans have a fair and secure opportunity to purchase tickets, while allowing artists and event organizers to set prices that reflect the actual market value.

The company states that it is the artists, along with their teams and promoters, who determine the prices and decide if dynamic pricing will be applied to their events.

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Government official Lucy Powell experienced the effects of dynamic pricing this past Saturday, paying over twice the initially quoted price for a ticket to an Oasis concert.

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

A representative stated, "Our goal is for fans to experience equitable transactions when purchasing tickets from secondary outlets, and we have initiated measures against prominent reselling platforms to uphold compliance with consumer protection laws."

"We believe additional safeguards are necessary for consumers, and it's encouraging that the government is willing to tackle this issue. We are eager to collaborate with them to ensure the best results for supporters and honest businesses."

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The news follows the announcement made last Tuesday by Noel and Liam Gallagher regarding the highly anticipated reunion of their band.

Dynamic pricing is also prevalent in sectors other than music, especially in the travel sector, where it is frequently applied to 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 explained to Stereogum that he desired for artists to have the option to exit the system and set their own prices for sales.

Efforts have been made to contact Ticketmaster for a response.

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