The British government is scrutinizing the use of dynamic pricing by ticketing websites following an outcry from Oasis fans who were left unable to afford tickets to the band’s highly anticipated reunion tour.
What Happened: the UK's advertising regulator has received 450 complaints about misleading ticket prices and availability, with many tickets more than doubling in price shortly after sales began, according to the BBC.
Fans hoping to see Oasis' return were met with soaring prices on Live Nation Entertainment Inc (NYSE:LYV)-owned Ticketmaster. Tickets that initially cost 135 pounds (around $177) quickly shot up to over 350 pounds. Despite hours spent in online queues, thousands were unable to secure tickets as the event sold out almost immediately.
See Also: Oasis Fans Rejoice, ‘Today Is Gonna Be The Day’: Rockers Reunite After 15-Year Family Feud
Prime Minister And Culture Secretary Address Ticketing Concerns
Prime Minister Sir Keir Starmer addressed the issue on BBC Radio 5 Live.
“There are a number of things that we can and should do” to prevent families from being priced out, he said.
Starmer stressed that families “simply can’t go or are absolutely spending a fortune on tickets.” The government would be consulting on future laws, which “may well mean adjustments,” he added.
“There are a number of techniques going on here where people are buying a lot of tickets, reselling them at a huge price,” he added. “And that’s just not fair — it’s just pricing people out of the market.”
Furthermore, UK Culture Secretary Lisa Nandy addressed the topic to ITV News: “We will include issues around the transparency and use of dynamic pricing, including the technology around queuing systems which incentivize it.” Nandy added that the government's upcoming consultation on consumer protections for ticket sales will tackle these concerns.
Dynamic pricing, often referred to as "surge pricing," is a strategy where prices increase in response to high demand. While not illegal, the practice has faced significant criticism for making live events inaccessible to many fans.
“After the incredible news of Oasis' return, it's depressing to see vastly inflated prices excluding ordinary fans from having a chance of enjoying their favorite band live,” Nandy continued. “Working with artists, industry, and fans, we can create a fairer system that ends the scourge of touts, rip-off resales and ensures tickets at fair prices."
Ticketmaster Under Scrutiny Again
Why It Matters: This is not the first time Ticketmaster has found itself at the center of a pricing controversy. The company also faced severe criticism in 2022 over the chaotic sales for Taylor Swift's Eras Tour.
Moreover, Ticketmaster has been recently investigated by the US Department of Justice because of the company's pricing practices.
Ticketmaster remains the primary platform for Oasis' ticket sales. The company blamed the prices on the “event organizer” who “has priced these tickets according to their market value”.
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