Taylor Swift Ticketmaster fiasco is fault of demand, bots, Liberty Media CEO says

Taylor Swift Ticketmaster fiasco is fault of demand, bots, Liberty Media CEO says

Now we obtained unhealthy bots.

The CEO of Liberty Media, Reside Nation’s largest shareholder, defended the occasion promoter towards calls that it needs to be damaged up following a storm of glitches and web site failures throughout Ticketmaster presales this week for Taylor Swift’s upcoming tour.

Reside Nation is sympathetic to followers who could not get tickets, Greg Maffei mentioned on CNBC’s “Squawk on the Road” Thursday. “It is a perform of Taylor Swift. The positioning was speculated to open up for 1.5 million verified Taylor Swift followers. We had 14 million individuals hit the positioning, together with bots, which aren’t speculated to be there.”

Maffei mentioned Ticketmaster bought greater than 2 million tickets on Tuesday and demand for Swift “might have crammed 900 stadiums.”

“This exceeded each expectation,” he mentioned, explaining that a lot of the demand was centered on the truth that Swift has not toured since 2018’s “Fame” stadium tour.

Liberty Media owns stakes in an unlimited array of media and leisure pursuits. On Thursday, it introduced that it will break up off the Main League Baseball’s Atlanta Braves into an asset-backed inventory. Liberty additionally mentioned it will create a brand new inventory known as Liberty Reside, which is able to embody its stake in Reside Nation.

Reside Nation, which merged with Ticketmaster in 2010, has confronted longstanding criticisms about its dimension and energy within the leisure business. Folks amplified their complaints this week when tickets for Taylor Swift upcoming Eras tour went on presale on Ticketmaster’s web site. The corporate was compelled to increase presales after followers flocked to the positioning, inflicting web site disruptions and gradual queues.

Maffei additionally defended Reside Nation towards lawmaker and activist considerations that Ticketmaster and Reside Nation are abusing their market energy. One staunch objector to the corporate’s decade’s-old merger has been Rep. Alexandria Ocasio-Cortez, D-N.Y, who tweeted Tuesday that Reside Nation and Ticketmaster needs to be damaged up.

“Although AOC might not like each aspect of our enterprise, apparently, AEG, our competitor, who’s the promoter for Taylor Swift, selected to make use of us as a result of, in actuality, we’re the most important and only ticket vendor on the planet,” Maffei mentioned. “Even our rivals need to come on our platform.”

Activists argue that as a result of Reside Nation controls 70% of the ticketing and dwell occasion venues market, rivals have little alternative on the place to promote their tickets and have known as on the Division of Justice to reverse the 2010 merger.

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