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

Sky-high Oasis concert ticket costs 'disheartening' – officials vow 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 comeback tour.

Monday, September 2, 2024, 12:

The government has committed to investigating 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 concert tickets as "depressing," announcing that dynamic pricing will be examined in a government assessment of the resale market for concert tickets.

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

Yet, after enduring long lines and delays, numerous individuals found themselves facing ticket costs significantly above the original price.

There was considerable frustration voiced on social platforms after tickets, originally priced at £148, were found listed for £355 on Ticketmaster shortly after they became available, a surge attributed to the dynamic pricing models employed.

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

She expressed her disappointment, stating: "Following the exciting announcement of Oasis's reunion, it's disheartening to witness the exorbitant ticket prices preventing 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 the transparency and application of dynamic pricing, as well as the technology supporting queue systems that promote it."

"By collaborating with artists, the industry, and supporters, we can develop a more equitable system that eliminates the problems of scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for all."

What is dynamic pricing?

This pricing strategy, which adjusts prices based on demand, was adopted by Ticketmaster in 2022.

The measure was introduced to prevent scalping and to direct a greater share of earnings towards the performers.

When demand for tickets is high and supply 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 and provided a link to a website explaining that prices might be "set or subject to market fluctuations".

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

The text explains that the purpose of the dynamic pricing system is to ensure fans can obtain tickets fairly and safely, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The company asserts 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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Cabinet member Lucy Powell was affected by surge pricing last Saturday, ending up paying over twice the initially quoted price for a ticket to see Oasis perform.

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

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary sources, and we have already intervened with prominent resale platforms to enforce compliance with consumer protection laws."

"We believe that consumers require additional safeguards, so it's encouraging that the government is taking steps 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 follows confirmation from Noel and Liam Gallagher last Tuesday that the band is set to reunite after a long hiatus.

Dynamic pricing is widely adopted across various sectors, not just in music, but also prominently in the travel industry, 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 wishes for artists to have the option to exit the system and set their own prices for sales.

Attempts have been made to contact Ticketmaster for a statement.

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