Lord Andrew Lloyd Webber slams surge pricing for Oasis concert tickets

Renowned composer Andrew Lloyd Webber has slammed the controversial ‘dynamic pricing’ strategy for show tickets as nothing short of “racketeering” following uproar over soaring prices for Oasis event tickets.

Music fans were left reeling when standard ticket prices for the much-anticipated reunion tour surged on last month, prompting an immediate response from both the Government and Britain’s competition watchdog who have vowed to scrutinise the use of surge pricing.

This contentious method of inflating or reducing prices based on consumer demand is often likened to the sale strategies employed by airlines and hotels.

In a fierce critique, Lord Lloyd-Webber disclosed to The Sundays Times magazine that this tactic should not be employed in theatres.

He asserted: “I don’t think theatres should be in the business of trying to push prices up. You need to break even, but I don’t like making theatre inaccessible. Dynamic pricing is racketeering, really it’s completely wrong.”

The theatrical mogul, famed for classic spectacles such as The Phantom Of The Opera, Cats, Jesus Christ Superstar, and Joseph And The Amazing Technicolor Dreamcoat, also took aim at the scant investment in arts education.

He lamented the gross underappreciation for the arts sector, stating: “People just don’t realise the value of the arts,” and further highlighted the broader educational benefits provided by musical instruction, saying, “I’m not saying we turn every child in Britain into a musician, but music empowers a child to do well in other areas. I really believe that for every penny spent on music in schools, you will save it in policing costs related to knife crime, drugs, behavioural issues.”

Lord Lloyd-Webber has previously called on the Government to adopt the Music in Secondary Schools Trust programme, a scheme designed to make classical music accessible to every secondary school student.

The trust, funded by the Andrew Lloyd Webber Foundation and the Charles Wolfson Trust, guarantees every child “an entitlement to study a classical musical instrument on entry into secondary school, as well as tuition and performance opportunities”, reports .

After advocating for various causes and overcoming personal hurdles, the theatre legend is ready to refocus on his creative pursuits. Last year, his son Nicholas, a composer and record producer, tragically passed away at the age of 43.

Lord Lloyd-Webber reflected: “When my son died, obviously that was one of those… You know, he turned his own life around which is another thing completely but I just felt like I was doing so much that, frankly, was not me.”

He’s made the decision “not to be involved with the business side” any longer and to concentrate on his creative endeavours once more. His next project is a new musical based on a film, which he is co-developing with writer Chris Terrio, the talent behind the Oscar-winning 2012 film Argo, as reported by The Sunday Times.