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

Sky-high Oasis concert ticket prices bring dismay; government vows to investigate fluctuating pricing strategies

"Time to revisit our frustrations," expressed an Oasis enthusiast on social media, reflecting widespread disappointment with the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate the practice of variable ticket pricing following reports that ticket prices for the Oasis reunion tour surged to over twice their initial cost during the sales period.

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

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

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

Outrage spread across social media after tickets initially priced at £148 were listed for £355 on Ticketmaster just hours after they went on sale, a surge attributed to the platform's dynamic pricing models.

During a weekend address, Ms. Nandy revealed plans to examine problems and the "technology behind queue systems that promote it" in a forthcoming government review.

She expressed disappointment, noting: "With Oasis announcing their comeback, it’s disheartening to see such exorbitant ticket prices that prevent regular fans from experiencing their favorite band in concert."

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

"In our upcoming discussion on consumer protections for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing. This will include the technology behind queuing systems that promote such pricing strategies."

"By collaborating with artists, the industry, and supporters, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced resales, 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 curb scalping and to make sure that a larger share of the proceeds benefits the artists.

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

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

On its official site, Ticketmaster characterizes its "Platinum" tickets as ones whose prices fluctuate based on market dynamics.

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 set prices that reflect the true market value of the tickets.

The firm states that it is the artists, their management, and event 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 effects of dynamic pricing last 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 conduct a review.

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

"We believe that consumers require additional safeguards, so it's encouraging that the government is willing 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 announcement of the band's highly anticipated reunion was confirmed by Noel and Liam Gallagher last Tuesday.

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

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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 contact Ticketmaster for a statement.

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