Outcry Over Oasis Reunion Tour Ticket Prices Prompts Government Review of Dynamic Pricing

Sky-high ticket prices for Oasis concert labeled 'disheartening' – officials vow to examine fluctuating pricing methods

"Time to revisit our frustration," posted an Oasis enthusiast on social media, expressing disappointment over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate the practice of dynamic ticket pricing following a sharp increase in prices for Oasis reunion tour tickets during their sale.

Culture Secretary Lisa Nandy expressed disappointment over the high prices of Oasis tickets, stating that the issue of dynamic pricing will be addressed in the government's examination of the secondary market for concert tickets.

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

Yet, after enduring the long lines and extensive delays, numerous individuals encountered ticket costs significantly exceeding their original price.

Many voiced their frustration online after tickets, originally priced at £148, skyrocketed to £355 on Ticketmaster shortly after becoming available, a surge attributed to the platform's dynamic pricing models.

Over the weekend, Ms. Nandy declared that an upcoming government consultation would examine these problems, including the technology behind queue systems that encourage it.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices preventing 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 matters concerning the clarity and application of dynamic pricing, as well as the technologies supporting queue 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 resales, guaranteeing fairly priced tickets."

What is dynamic pricing?

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

It was implemented to prevent scalping and to ensure that a larger share of the profits goes directly to the artists.

When there's high demand for tickets and a limited number available, prices tend to increase.

As frustration mounts regarding the cost of Oasis's tickets, the company clarified that it does not determine the pricing. They also provided a link to a website explaining that ticket prices could be either "fixed or subject to market fluctuations."

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

The objective of the dynamic pricing system, as stated, 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 real market value.

The corporation asserts that it is the artists, their representatives, and event organizers who determine the prices and decide if dynamic pricing will be applied to their events.

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Government official Lucy Powell was affected by surge pricing this Saturday, ultimately 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: "It's important to us that fans are treated fairly when purchasing tickets from secondary platforms, and we have already intervened with key resale sites 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 both fans and businesses that play by the rules."

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The news follows an announcement last Tuesday by Noel and Liam Gallagher that the band is set to reunite after a long hiatus.

Dynamic pricing is widely used in various sectors, not just music, and is particularly prevalent in the travel industry for pricing hotel accommodations and airfare.

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

He explained to Stereogum that his goal was for artists to have the option to exit the system and set their own prices for sales.

Efforts have been made to get a statement from Ticketmaster.

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