Ministers to Investigate ‘Dynamic Pricing’ Amid Outrage Over Oasis Ticket Costs
The government has announced plans to investigate the use of ‘dynamic pricing’ following a backlash over the soaring cost of tickets to see Oasis next year. Fans were left outraged as prices surged to over £350, up from the original price of £135, sparking a heated debate about fair pricing in the live entertainment industry.
Culture Secretary Lisa Nandy expressed her concern over the “rip-off resales” and vowed to ensure that tickets are sold at fair prices. The government’s consultation into ticket resale websites, set to begin in the autumn, will now also focus on the controversial practice of dynamic pricing, where ticket prices fluctuate based on demand.
The issue hit close to home for some government officials, with Leader of the House of Commons Lucy Powell revealing that she had to pay more than double the original cost for an Oasis ticket due to dynamic pricing. While she acknowledged the market forces at play, she admitted she was not a fan of surge pricing.
Fans, on the other hand, were less forgiving, with many expressing their disappointment and frustration over the inflated prices. Ticketmaster, the platform where the tickets were originally sold, defended its pricing model, stating that event organizers set the prices based on market value.
Despite the controversy, Jonathan Brown, chief executive of the Society of Ticket Agents and Retailers, commended ticketing websites for handling the “enormous demand” for Oasis tickets. He emphasized that prices were ultimately determined by the band and their promoter.
The government’s review will also explore issues surrounding the transparency and use of dynamic pricing, with the aim of creating a fairer system that puts an end to ticket touting and ensures tickets are accessible at reasonable prices. Former Labour leader Sir Keir Starmer has previously supported measures to cap prices for resold tickets and limit the number of tickets an individual can resell.
As the debate over dynamic pricing continues, fans, artists, and industry stakeholders are hopeful that a solution can be reached to prevent ticket prices from spiraling out of control and ensure that everyone has a fair chance to attend live events.
