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

Sky-high Oasis concert ticket prices bring dismay; government to examine fluctuating pricing models

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

Monday, September 2, 2024, 12:

Officials have pledged to investigate the practice of variable ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during the sales period.

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

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

After enduring long lines and significant delays, numerous individuals were confronted with ticket costs that greatly exceeded the original price.

Many voiced their frustration online after seeing tickets initially priced at £148 being offered for £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing model.

Over the weekend, Ms. Nandy stated that the government would examine issues including the technology behind queue systems that encourage queuing in a forthcoming consultation.

She expressed disappointment, stating: "With the thrilling announcement of Oasis's comeback, it's disheartening to witness such 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 consultation on consumer protections for ticket resales, we will be addressing concerns related to the transparency and implementation of dynamic pricing. This includes the technology behind queuing systems that promote such pricing strategies."

"By collaborating with artists, the industry, and fans, we can establish a more equitable system that eliminates the problems of scalpers and inflated resale prices, ensuring that tickets are sold at reasonable rates."

What does dynamic pricing mean?

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

The measure was implemented to prevent scalping and to direct a greater portion of the profits towards the performers.

Fundamentally, when ticket demand is high and availability 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 ticket prices. They also provided a link to a website explaining that prices might be "set or subject to market fluctuations".

On its official site, Ticketmaster defines its "Platinum" tickets as those priced based on the fluctuations of supply and demand.

The dynamic pricing system aims to ensure that fans can purchase tickets safely and fairly, while also allowing artists and event organizers to set ticket prices that reflect their actual market value.

The firm states that it is the artists, along with their management 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 was affected by surge pricing last Saturday, and ended up 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 is our goal to ensure that fans receive equitable treatment when purchasing tickets on the secondary market. We have already initiated measures against prominent resale platforms to uphold consumer protection laws."

"We believe that additional safeguards are necessary for consumers, so it's encouraging that the government is planning to tackle this issue. We are eager to collaborate with them to achieve favorable results for both fans and businesses that play by the rules."

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The announcement of the band's reunion was officially made by Noel and Liam Gallagher last Tuesday.

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

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

He explained to Stereogum that he wished for artists to have the option to exit the system and set their own prices for their work.

Efforts have been made to reach Ticketmaster for a response.

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