Oasis Tickets: UK Government to Probe 'dynamic Pricing'

Ministers have promised an investigation after fans complained of inflated ticket prices for Oasis' 2025 reunion tour. But industry experts insist that "dynamic pricing" is not illegal and based on supply and demand.The British government is set to launch an investigation into the use of so-called "dynamic pricing" by event organizers after music fans saw the price of Oasis tickets surge over the weekend.

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Tickets for the Manchester band's 17-date reunion tour in the United Kingdom and Republic of Ireland next year went on sale on Saturday morning, with the majority priced at £150 (€178, $197).

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But the huge demand saw fans not only forced to wait in online queues for hours, but also confronted with inflated ticket prices when they finally reached the online shop.

UK Culture Minister Lisa Nandy said it was "depressing to see vastly inflated prices" and said the government would be looking into transparency around dynamic pricing – which automatically adjusts prices in real-time according to demand – in its investigation into consumer protection.

"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," Nandy said in a statement late on Sunday.

Nandy's government colleague Lucy Powell, the Leader of the House of Commons, experienced the issue at first hand on Saturday, telling the BBC that she ended up buying two tickets for one of Oasis' Manchester dates for the adjusted price of £350 ($460) each.

"[I] eventually got through and bought a couple of tickets for more than I was expecting to pay," she said, adding that while she does not "particularly like" the model, "it is the market and how it operates.

"You've absolutely got to be transparent about that so that when people arrive after hours of waiting, they understand that the ticket is going to cost more."

What is 'dynamic pricing'?

There is nothing illegal about dynamic pricing, nor is it a new phenomenon. Many people will be familiar with such price fluctuations from taxi apps such as Uber or from buying airline tickets or making hotel reservations.

Schellion Horn, a competition economist at British accounting firm Grant Thornton, told the BBC that dynamic pricing was all about supply and demand.

People were "clearly willing to pay £300-400," she explained, otherwise they would not have completed transactions. She even suggested that the tickets had probably been "underpriced."

Many punters, however, were left feeling that their excitement and passion had been exploited. Oasis fan Rachael Board from Devon told BBC News she felt "completely ripped off" after getting "caught up in the vibe" and paying £495 for a ticket, over three times the £150 she'd budgeted for.

"I'll be stuck paying it off on the credit card," she added. "It's just greed."

Retailer Ticketmaster said prices are set by the "event organizer" who "priced tickets according to their market value."

Jonathan Brown, chief executive of the Society of Ticket Agents and Retailers, said prices would have been set by the band. Neither Oasis nor their management have yet responded.

Ahead of the Labour Party's landslide general election win in July, party leader Keir Starmer had promised to regulate ticket prices for sports, music and other cultural events, insisting that fans should be able to access culture "at a fair price" and not be left "at the mercy of ruthless ticket touts who drive up prices."

mf/lo (Reuters, dpa)

(The above story first appeared on LatestLY on Sep 02, 2024 03:40 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).