This morning, Oasis fans were left fuming as they discovered that tickets for the band’s highly anticipated reunion tour had soared to a staggering £355. This jaw-dropping price spike is attributed to Ticketmaster’s controversial “dynamic pricing system.”
How Dynamic Pricing Works
Dynamic pricing, a method already used extensively in the US, adjusts ticket prices based on real-time demand, much like how Uber fare changes with demand or how airline seat prices fluctuate. According to Ticketmaster’s website, the “on-demand standing ticket” prices are set according to the market value and can fluctuate. They clarify, “Tickets do not include VIP packages. Availability and pricing are subject to change.”
Ticketmaster argues that this system helps to combat scalping and provides artists with a larger share of the revenue. However, many fans and industry experts are not convinced, claiming that the inflated prices are no different from what scalpers would charge.
The Backlash
Dynamic pricing has been met with discontent in the UK, particularly among fans of high-profile artists like Bruce Springsteen and Harry Styles. The idea is to dissuade scalpers by raising prices on official sites, thus allowing Ticketmaster and artists to capture the additional revenue. Yet, for Oasis fans, standing tickets today were listed at over twice their original price—£350 instead of £151.25.
A similar issue occurred with Harry Styles’s concert at Slane Castle last year, where ticket prices jumped from €97 to €195.
Frustrated Fans Share Their Stories
Superfan Rebecca McGowan recounted her frustrating experience: “I had two £155 tickets in my basket, but by the time I went to purchase them, they were no longer available. Instead, ‘pit tickets’ were priced at £386 each for the same area. It was incredibly frustrating.”
Springsteen Responds to Criticism
Bruce Springsteen defended the use of dynamic pricing, stating it was an effort to align with industry standards after decades of pricing his tickets below market value. “I wanted to do what everyone else is doing,” he said. “For the past 49 years, we’ve been out there under market value. I’m 73 now, and I wanted to match what other artists are doing. Most of our tickets remain affordable.”
Public Outcry and Price Comparisons
The discontent reached a crescendo on social media, with many taking to X/Twitter to express their frustration. Journalist Gavan Reilly tweeted, “After 105 minutes in the queue, the only Oasis tickets left are ‘official platinum tickets’ at €490.50 and ‘in-demand standing tickets’ at €415.50. This feels like Ticketmaster is just incorporating scalper pricing into their face value.”
City Councillor Darragh Moriarty echoed similar sentiments, describing the ‘in-demand standing ticket’ as merely a standard standing ticket with a doubled price. Screenshots shared by Moriarty showed standing tickets for €415.50 each, plus fees, which is approximately £350.
Resale Market Skyrockets
On resale sites, ticket prices are even more exorbitant. For London shows, standing tickets range from £773 to £1,512, while seated tickets span from £655 to a staggering £5,971. In Cardiff, standing tickets are priced from £959 to £4,519, and seated tickets range from £549 to £6,029.
Ticketmaster’s Defense
Ticketmaster has defended its dynamic pricing approach, arguing that it’s akin to how sports teams set ticket prices. They emphasize that this model helps maintain the vibrancy of the live music industry and that the face value of tickets is set by event organizers. The company asserts, “We ensure that the total price is always visible from the beginning and we never hide our fees.”
What’s Next?
As fans continue to voice their frustration and grapple with skyrocketing ticket prices, it remains to be seen how Ticketmaster will address the growing backlash.
Mine Crypto. Earn $GOATS while it is free! Click Here!!