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Inflated Oasis tickets ‘utterly depressing’ – Government promises overhaul of dynamic pricing | Politics news
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Inflated Oasis tickets ‘utterly depressing’ – Government promises overhaul of dynamic pricing | Politics news

The government has promised to look at dynamic ticket pricing after the cost of tickets for the Oasis reunion tour more than doubled during sales.

Minister of Culture Lisa Nandy described the sale of inflated Oasis tickets as “extremely depressing” as she said the extra high prices would be included in a government review of the secondary market for concert tickets.

On Saturday, fans of the world-famous band come sat in virtual queues for hours hoping to get tickets to one of the reunion shows next year.

However, once they got through the two long queues, many found that they had bought a ticket that was much more expensive than the original price.

A person queues to access the Ticketmaster website on their phone, with the StubHub website in the background, showing detailed information about Oasis concert tickets on sale in London. Oasis fans in the UK and Ireland who missed out on the advance ticket sale will be looking to secure their spot at the band’s reunion concerts when they go on general sale on Saturday. Release date: Saturday 31st August 2024.
Image:
Fans queued up on Saturday as Oasis tickets battled it out

Some expressed their anger on social mediaas tickets worth £148 were sold for £355 on Ticketmaster within hours of release, due to the dynamic pricing system.

Ms Nandy announced last weekend that such issues, as well as the “technology surrounding queuing systems that encourages this”, would be examined in an upcoming consultation with government.

She said: “After the incredible news of Oasis’ return, it’s depressing to see prices so high that ordinary fans don’t get the chance to see their favourite band live.

“This government wants to put the fans back at the center of music.

“That is why we will include issues around transparency and the use of dynamic pricing, including the technology around queuing systems that encourage this, in our forthcoming consultation on consumer protection in ticket resale.

“By working together with artists, the industry and fans, we can create a fairer system that ends the scourge of scams and counterfeit resale, and ensures tickets are sold at fair prices.”

What is dynamic pricing?

The demand-driven system was introduced by Ticketmaster in 2022.

It was said that it was intended to combat scammers and ensure that more money went to the artists.

When there is high demand for tickets and supply is limited, the price may increase.

Amid anger over Oasis’ ticket prices, the company said it does not set prices itself and shared a link to a website that said fees could be “fixed or market-based.”

On Ticketmaster’s own website, ‘Platinum’ tickets are described as tickets whose price is adjusted based on supply and demand.

The aim of the dynamic pricing system is to “give fans fair and safe access to tickets, while allowing artists and other people involved in live events to price tickets closer to their true market value.”

The company claims that it is the artists, their teams and promoters who set the prices and decide whether to use dynamic pricing for their shows.

Minister Lucy Powell was also among the victims of the price hikes on Saturday, having ended up paying more than double the original price for a ticket to an Oasis show.

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It comes after Noel and Liam Gallagher confirmed the band’s long-awaited reunion last Tuesday.

Dynamic pricing is common in industries other than the music industry. For example, it is often used in the travel industry and in the sale of hotel rooms and airline tickets.

Jack Antonoff, a frequent Taylor Swift collaborator previously said that dynamic pricing is a problem.

He told Stereogum that he wanted artists to be able to opt out of the system and sell their records for whatever price they wanted.

Ticketmaster has been asked for comment.