Outrage Over Oasis Reunion Tour Ticket Prices Sparks Government Review on Dynamic Pricing

Sky-high Oasis concert ticket costs 'disheartening' – officials pledge to examine fluctuating pricing strategies

"Time to reflect on our frustration," commented an Oasis enthusiast on social media, expressing discontent with the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The administration has committed to investigating variable ticket pricing following the doubling of prices for the Oasis reunion tour tickets during the sales period.

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

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

After enduring long lines and extended waiting times, numerous individuals discovered that the cost of tickets was significantly above the original price.

Many voiced their frustration online after tickets, originally 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 strategy.

During her weekend address, Ms. Nandy stated that the government plans to examine certain problems, including the technology that promotes queuing systems, in a forthcoming consultation.

She expressed disappointment: "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the steep rise in ticket prices, which prevents 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 plan to address concerns related to the transparency 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 of scalpers and overpriced resales, ensuring that tickets are sold at reasonable prices."

What is dynamic pricing?

This pricing strategy based on consumer demand was launched by Ticketmaster in 2022.

It was implemented to prevent scalping and to direct more profits towards the performers.

When ticket demand is high and supply is low, prices tend to increase.

In response to frustration about the cost of Oasis's tickets, the firm clarified that it does not establish pricing, and provided a link to a site explaining that prices could be "set or subject to market fluctuations."

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

The purpose of the dynamic pricing system is to ensure that tickets are accessible to fans in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm asserts that it is the artists, their management, and 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 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 receive equitable treatment when purchasing tickets on the secondary market, and we have already intervened with prominent resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards for consumers are essential, and it's encouraging that the government is willing 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 highly anticipated reunion was made public last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is a prevalent strategy not only in the music industry but also in the travel sector, particularly for 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 he desired for artists to have the option to withdraw from the system and set their own prices for their work.

Efforts have been made to contact Ticketmaster for a statement.

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