How the UK Government could save the music industry from dynamic pricing

These laws aim to allow more fans affordable access to concerts (via Unsplash

The UK Government has announced it is now illegal to resell event tickets for any price above their face value. The ban will also put a cap on the massive fees and service charges that are often set by resellers. 

Dynamic pricing has always been a major topic for music fans, and this was reinforced when Manchester band Oasis announced their comeback with The Oasis Live 25’ Tour. This tour has seen them play in major UK stadiums such as Murrayfield in Edinburgh, Cardiff Principality, Manchester’s Heaton Park and Wembley Stadium. 

Oasis Live 25’ began at the Principality Stadium (via Getty Images)

With the demand for tickets being so high, fans resorted to trying to buy tickets at resale. For Murrayfield, standing tickets were resold for north of £4,000. Cardiff saw similar tickets priced between £916 and £4,519; Heaton Park was over £2,500 and Wembley tickets were listed as high as £6,000.  

Major British artists last week called for the government to act and now they have. The list of artists includes Coldplay, Sam Fender, Dua Lipa, Radiohead, and The Cure’s lead singer Robert Smith.  

Mercury Prize winner Sam Fender was among the artists calling for change (via Getty Images)

An analysis from the UK Government found that capping resale pricing is down by an average of £37 per person and could save music fans an annual sum of £112 million collectively. 

This could help allow more genuine music fans to see some of their favourites without spending their life savings to make it happen.  

Ticketmaster’s use of dynamic pricing has also priced fans out of events. According to Music Week, Ticketmaster uses surge/dynamic pricing because they believe it will benefit the artists more and the promoters and will deter resellers; however, this hasn’t helped. 

This will now change with the new laws after consultations with the Competition and Markets Authority (CMA). There have been secured commitments from Ticketmaster to help force these changes. 

The CMA will also now have the power to enforce a fine on secondary ticket sites. The fine will be 10% of their annual income.  

Now that these plans are finally in place, fans will now be able to go and see their favourite artists or bands without paying hundreds or thousands of pounds.