Labour Ministers Investigate Ticket Price Caps Following Oasis Reunion Ticket Controversy

An important initiative was announced to protect music and sports fans from being exploited by ticket resellers. The government is considering proposals for capping resale ticket prices, a move that follows widespread outrage during the summer over the Oasis reunion tour ticket sales.

Ministers have issued a 'call for evidence' regarding the divisive practice of 'dynamic pricing' on official ticketing platforms, which faced heavy criticism when tickets for Oasis concerts were sold at hugely inflated prices.

The upcoming public consultation will explore the possibility of limiting resale prices between the original ticket price and a maximum increase of 30 percent. Additionally, the consultation will look into restricting the number of tickets that resellers can list for sale, based on how many they were allowed to buy in the primary market.

These measures aim to target organized ticket touts who purchase enormous amounts of tickets to resell at marked-up prices, and to discourage ticket selling on an industrial scale. There are also plans to impose new legal responsibilities on ticket resale websites and applications, making them accountable to Trading Standards and the Competition and Markets Authority (CMA) for the information they provide to consumers.

Currently, Trading Standards can impose fines up to £5,000 for violations of ticketing rules. However, the consultation will assess the necessity of increasing this penalty.

The government has embarked on this initiative amid growing frustration from ticket buyers for concerts and other significant events. People are increasingly worried about professional touts who buy tickets in bulk for popular performances and then sell them at outrageous prices.

Culture Secretary Lisa Nandy emphasized the necessity of these changes, stating that everyone should have a fair opportunity to access tickets for their favorite shows or games, without worrying about being taken advantage of by ticket resellers.

The summer ticket sales for the Oasis reunion generated considerable anger, especially when some tickets were found listed for over £6,000 on resale sites, which was nearly 40 times the supposed face value for a standing ticket.

The outcry was further fueled by the actions of Ticketmaster, the official ticket seller, who implemented a 'dynamic pricing' strategy that increased prices when demand surged. Fans were shocked to see ticket costs jump from £148 to £355 during what became known as 'Supersonic Saturday'. This has led the CMA to open an investigation into Ticketmaster's practices.

Prominent figures, including DJ Fatboy Slim, have voiced their support for regulations to combat exploitation in ticket sales. He stated that it is refreshing to see efforts aimed at directing funds back to fans rather than resellers and added that this change reflects the commitments made by the current government.

Other high-profile artists like Bruce Springsteen and Coldplay have also faced similar issues with ticket touts, as prices for their concerts soared as well.

During the sensational demand for the Oasis concerts, the resale website Viagogo was found listing tickets for the Wembley show at prices ranging from £761 to £5,369, while tickets for a Manchester concert reached between £687 and £9,041.

As part of the government’s ‘Plan for Change’, Culture Secretary Nandy reiterated the objective is to enhance consumer protections. Nandy declared that it is essential to stop fans from being overcharged and to ensure their money benefits the vibrant live events sector instead of lining the pockets of greedy resellers.

In response to these concerns, a Ticketmaster representative stated that the company strives to provide a simple and transparent ticketing experience. They mentioned that since 2018, their resale policy caps prices at face value, allowing fans to sell tickets they can no longer use at the original price set by event organizers. Moreover, Ticketmaster supports the initiative to implement an industry-wide resale price cap and urges the government to impose stricter regulations against automated ticket-buying bots.

ticketing, pricing, Oasis