The UK government will investigate Ticketmaster’s flexible pricing model after the Oasis debacle

It’s not just Taylor Swift’s fans and the US government about it. The UK government will look into the company’s flexible pricing model after millions of Oasis fans clamored for tickets to the band’s reunion tour at the weekend.

When fans queued for hours to buy, some found that the price of a standing ticket had doubled – in one case, rising from £135 to £337.50 ($177 to $444). Ticketmaster often gives customers just a few seconds to decide whether to complete a purchase once the tickets are in their cart, so they don’t have much time to decide whether such a large price increase is worth it.

Many fans were unable to purchase Oasis tickets before they went on sale on Ticketmaster. So, if they really want to see Liam and Noel Gallagher on stage together for the first time in 16 years, they may have to turn to resale sites where some parties are trying to sell tickets for around $8,000 each.

The chaos and complaints about the flexible pricing model have caught the attention of Lisa Nandy, the UK’s culture secretary. Nandy said “it’s disappointing to see the prices go up so much without ordinary fans getting the chance to enjoy their favorite team live,” according to the report. .

“This government is committed to bringing fans back to the heart of music. We will therefore include issues of transparency and variable pricing, including queuing technology that promotes that, in our upcoming consultation on consumer protection in ticket sales,” said Nandy. “Working with artists, industry and fans, we can create a smooth system that eliminates the scourge of resale, resale and guaranteeing tickets at fair prices.”

Before the Labor Party won the July general election, leader Sir Keir Starmer introduced resale ticket prices for music and sporting events. The government will hold a consultation on the secondary ticket market this autumn and the issue of flexible pricing will now be included.

Ticketmaster does not set the prices itself. The company said that was the decision of the event organizers. In other words, influencers. But musicians also have a voice. Swift, Ed Sheeran and The Cure are among the big names who have opted not to use variable rates on recent tours. However, Bruce Springsteen caused a stir in 2022 when he said he would use the model.

Meanwhile, Ticketmaster is in hot water Stateside. In May, the Justice Department and dozens of federal and state attorneys general filed an antitrust lawsuit in an effort to do so, alleging that he has an illegal role in the live entertainment industry.