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To: Chair of the Department for Culture, Media and Sport, and Members of the UK Government,
Regulation of Platinum/In-Demand Ticket Pricing for Oasis and other future Events
Issue Overview: Recently, tickets for the highly anticipated Oasis reunion tour, initially priced at £150, skyrocketed to over £350+ due to Ticketmaster’s "In-Demand" pricing strategy. This dynamic pricing model allows ticket prices to fluctuate based on demand, resulting in significant disparities in what fans pay for the same event. Such practices not only create an unfair system but also effectively exclude many loyal fans from accessing tickets at reasonable prices.
Oasis themselves have voiced concerns about the resale of tickets on secondary markets, emphasising that tickets should only be resold at face value via approved platforms like Ticketmaster and Twickets. While this is a step in the right direction, the fundamental issue lies within the primary market, where these inflated prices originate.
Need for Government Intervention: It is imperative that the Department for Culture, Media and Sport and the UK Government intervene to regulate these pricing practices, ensuring fairness and transparency across the ticketing market. The current system facilitates significant price inflation, making live events increasingly inaccessible to many fans and disproportionately benefiting those with greater financial resources.
Proposed Regulatory Measures:
- Prohibit Demand-Based Pricing: We urge the government to introduce legislation that bans demand-based pricing models. The practice of inflating ticket prices based on demand should be outlawed, ensuring consistent and fair pricing for all fans.
- Implement Price Caps: Establish caps on how much ticket prices can increase in response to demand, creating a more equitable distribution of tickets.
- Scheduled Pricing Tiers: Mandate a structured pricing model akin to that used by festivals, where different ticket tiers are released at scheduled intervals leading up to the event. This would provide fans with multiple opportunities to purchase tickets at set prices, minimising the impact of price inflation.
- Enhance Pricing Transparency: Require ticket vendors to disclose the methodology behind price determinations and ensure that fans are informed of potential price changes in real time.
- Strengthen Resale Regulations: Enhance enforcement of existing regulations requiring tickets to be resold at face value on approved platforms, and impose stricter penalties for violations of these terms.
Ticketmaster's Profit-Driven Approach: It is concerning to note that Ticketmaster has openly promoted their "In-Demand" pricing model as a method to maximise profits for bands and promoters, rather than prioritising fair access for fans. For further details, please refer to this https://web.archive.org/web/20220505144242/https://business.ticketmaster.com/business-solutions/ticketmasters-platinum-tickets-maximizes-tour-revenue-for-artists-and-promoters/.
Why is this important?
Conclusion: The current state of ticket pricing is creating a deeply inequitable environment where only those with greater financial means can afford to attend live events. By regulating Platinum and "In-Demand" ticket pricing, the Department for Culture, Media and Sport, in collaboration with the UK Government, can ensure that all fans have a fair chance to experience live performances at a reasonable cost. We strongly urge you to take decisive action on this matter to protect consumers and uphold the integrity of live entertainment in the UK.
