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Oasis Fans Express Outrage Over Dynamic Pricing of Reunion Tour Tickets

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Thousands of Oasis fans experienced long wait times in virtual queues to purchase tickets for the band's reunion shows, with many waiting over three hours. However, upon finally purchasing tickets, fans were shocked to find that prices had more than doubled from the initially advertised rate of £148.50 to £355.20. This price hike is attributed to dynamic pricing, a strategy where businesses increase prices during periods of high demand. The British government has taken notice of this practice and is investigating its use, particularly in the context of ticket sales. Some fans were initially quoted prices of around $180 for tickets, only to see them jump to over $460 upon purchase. The incident has sparked frustration among fans, with some sales websites, including Ticketmaster, experiencing crashes on the day of ticket sales.

    1. The Competition and Markets Authority is urgently reviewing recent developments in the ticketing market, including the way dynamic pricing is being used in the primary market.
    1. Many of those Oasis fans had no idea … that a dynamic pricing model was in use. They thought that they were going to pay one price for a ticket, only to … find that they were paying hundreds of pounds more.
    2. We will include issues around the transparency and use of dynamic pricing, including the technology around queuing systems which incentivize it.
    3. There is an overhaul needed of the regulations around ticketing. We've already announced that this autumn we'll be consulting on secondary ticketing and how to deal with ticket touts, and as part of that we'll look at dynamic pricing, and, in particular, transparency around it.