Outrage Over Oasis Ticket Prices Sparks Government Review of Dynamic Pricing

Sky-high prices for Oasis concert tickets have left fans disheartened; government to assess fluctuating pricing strategies

"Time to look back in anger," posted a disgruntled Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The government has committed to investigating the practice of dynamic ticket pricing following reports that ticket prices for the Oasis reunion tour surged more than double during the sale period.

Culture Secretary Lisa Nandy expressed her dismay over the exorbitant pricing of Oasis concert tickets, labeling it "depressing" and confirmed it will be addressed in the government's upcoming examination of the secondary market for event tickets.

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

After enduring both lines and extended delays, numerous individuals encountered ticket costs significantly exceeding their original price.

Many voiced their frustration online after tickets initially priced at £148 appeared on Ticketmaster for £355 just hours after they went on sale, a surge attributed to the platform's dynamic pricing models.

During her weekend address, Ms. Nandy revealed plans for a forthcoming government consultation to examine these problems and the technology behind queuing systems that encourage them.

She expressed disappointment, stating: "With the thrilling 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 fans as the core focus of the music industry."

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and implementation of dynamic pricing and the technology that supports queuing systems that promote it."

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

What is dynamic pricing?

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

It was implemented to prevent scalping and to guarantee that a greater share of profits goes to the artists.

When demand for tickets is high and their availability is limited, prices tend to increase.

In response to the frustration surrounding the cost of Oasis's tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices may be either "fixed or subject to market fluctuations."

On Ticketmaster's official site, the company explains that the prices of "Platinum" tickets fluctuate based on market dynamics.

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

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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Cabinet member Lucy Powell experienced the impact of dynamic pricing this past 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 investigation.

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

"We believe that additional safeguards are necessary for consumers, so it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to secure the most favorable results for supporters and honest businesses."

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The news followed an announcement last Tuesday from Noel and Liam Gallagher about their band's highly anticipated reunion.

Dynamic pricing extends beyond the music sector, frequently appearing in the travel industry, particularly in the pricing of hotel accommodations and airline fares.

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Jack Antonoff, known for his regular collaborations 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 their work.

Efforts have been made to contact Ticketmaster for a statement.

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