Ticket Turmoil: Government to Review Dynamic Pricing After Oasis Reunion Tour Outrage

Sky-high Oasis concert ticket prices cause dismay; government vows to examine fluctuating pricing strategies

"Time to revisit our frustration," commented an Oasis enthusiast on social media, expressing disappointment over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024, 12:

The administration has pledged to investigate the practice of dynamic ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during their sale.

Culture Secretary Lisa Nandy expressed her dismay over the exorbitant pricing of Oasis concert tickets, labeling it "depressing." She announced that surge pricing will be examined in the government's upcoming evaluation of the secondary market for concert ticket sales.

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

Nonetheless, after enduring both lines and extensive delays, numerous individuals encountered ticket costs significantly exceeding their original price.

Many took to social media to vent their frustration after tickets initially priced at £148 were listed for £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform's dynamic pricing model.

Over the weekend, Ms. Nandy revealed plans for a government consultation to explore issues including the technology used in queuing systems that encourage it.

She expressed her disappointment by saying, "With the exhilarating announcement of Oasis's comeback, it's disheartening to witness the skyrocketing ticket prices that prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans in the music experience."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address topics related to the transparency and application of dynamic pricing, as well as the technology supporting queuing systems that encourage it."

"By collaborating with artists, the industry, and fans, we can develop a more equitable system that eliminates unfair ticket scalping and overpriced resales, ensuring that tickets are sold at reasonable prices."

Dynamic pricing, a strategy that adjusts prices based on consumer demand, was implemented by Ticketmaster in 2022.

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

When there's high demand for tickets and a limited number available, prices tend to increase.

Amid frustration regarding the cost of Oasis tickets, the company clarified that they do not determine the pricing, instead directing individuals to a website explaining that prices could be "set or subject to market fluctuations."

Ticketmaster explains on its website that the prices of its "Platinum" tickets fluctuate based on market demand and availability.

The dynamic pricing system aims to provide fans with a fair and secure opportunity to purchase tickets, while allowing artists and event organizers to set prices that more accurately reflect the actual market value of the tickets.

The firm states that the decision on pricing and the use of dynamic pricing for performances is determined by the artists, their management teams, and the event promoters.

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Cabinet member Lucy Powell was affected by dynamic pricing this past Saturday, ultimately paying over twice the initially quoted price for a ticket to see Oasis.

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

A representative stated: "It's important to us that fans receive equitable treatment when purchasing tickets from secondary markets, and we have actively pursued significant resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards for consumers are necessary, and 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 of the band's highly anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely employed across various sectors, not just in music, but also extensively in the travel industry, particularly for hotel accommodations and flight bookings.

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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 desires for artists to have the option to withdraw from the system and set their own prices for sales.

Ticketmaster was contacted to provide a statement.

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