Taylor Swift Ticketmaster Fiasco Demands, Bots Blame, Liberty Media CEO Says
Now we’ve got bad bots.
Liberty Media CEO, Live Nations The largest shareholder, this week defended the event promoter against calls that it should be wound up due to problems and a storm of site failures during Ticketmaster presales for Taylor Swift’s upcoming tour.
Live Nation sympathizes with fans who couldn’t get tickets, Gregg Maffei said Thursday on CNBC’s “Squawk on the Street.” “This is a function of Taylor Swift. The site was supposed to open to 1.5 million verified Taylor Swift fans. We had 14 million people hit the site, including bots, that weren’t supposed to be there.”
Maffei said Ticketmaster sold more than 2 million tickets on Tuesday and that demand for Swift “could fill 900 stadiums.”
“It’s exceeded every expectation,” he said, explaining that much of the demand centered on the fact that Swift hasn’t toured since 2018’s “Reputation” stadium tour.
Liberty Media owns a wide array of media and entertainment interests. On Thursday, it announced that it would Split from Major League Baseball’s Atlanta Braves In an asset-backed stock. Liberty also said it would create a new stock called Liberty Live, which would include its stake in Live Nation.
Live Nation, which merged with Ticketmaster in 2010 The entertainment industry has long been criticized for its size and power. People escalated their complaints this week when tickets for Taylor Swift’s upcoming Eras tour went on sale on the Ticketmaster website. was the company Forced to expand presales After fans flocked to the site, the site caused disruptions and slow queues.
Maffei also defended Live Nation against concerns from lawmakers and activists that Ticketmaster and Live Nation were abusing their market power. One staunch opponent of the companies’ decade-old merger is Rep. Alexandria Ocasio-Cortez, DN.Y, who tweeted Tuesday that Live Nation and Ticketmaster should be broken up.
“While AOC may not like every element of our business, the interesting thing is that AEG, our competitor, who is the promoter of Taylor Swift, chose to use us because, in fact, we are the largest and most effective ticket seller in the world.” Say sorry. “Even our competitors want to come to our platform.”
Activists argue that because Live Nation controls 70% of the ticketing and live event venue market, competitors have little choice over where to sell their tickets, and have called on the Justice Department to reverse the 2010 merger.
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