14 million people flooded the Taylor Swift pre-sale

  • Ticketmaster was only supposed to be open to 1.5 million “verified” Taylor Swift fans for presale.
  • Live Nation’s president said 14 million people tried to get tickets and could have filled 900 stadiums.
  • Greg Maffei said the company is “understanding” with fans about the long wait times and website issues.

Ticketmaster’s pre-sale for Taylor Swift’s Eras Tour on Tuesday was only supposed to be open to 1.5 million “verified” fans, but 14 million people tried to buy tickets that day, the Live Nation president said. he told CNBC’s Squawk on the Street.

“Despite all the challenges and breakdowns, we sold over 2 million tickets that day,” said Greg Maffei of Live Nation. “We could have filled 900 stadiums.”

Ticketmaster says its Verified Fan program aims to “create a safe and reliable ticket-buying experience” for fans of different artists and teams and to “level the playing field so more tickets go to the fans who they intend to go to the show – and not for ticket bots.” People sign up to be a “verified fan” and, if selected, receive an access code the night before the presale opens which they can use to purchase tickets.

However, among the 14 million fans were robots, “who shouldn’t be there,” Maffei said.

“The entire Live Nation team is understanding of the long wait times and fans who couldn’t get what they wanted,” said Maffei. “The reality is, it’s a function of Taylor Swift’s massive demand.”

Rep. Alexandria Ocasio-Cortez criticized Ticketmaster, accusing the company of monopolizing the ticketing industry after website crashes were reported during pre-sales on Tuesday. Ticketmaster and Live Nation merged in 2010 to form Live Nation Entertainment. Maffei, its chairman, is also CEO of Liberty Media which owns over 30% of Live Nation.

“Remind daily Ticketmaster is a monopoly, their merger with LiveNation should never have been approved and they need to be vetted,” Ocasio-Cortez tweeted. “Destroy them”.

Maffei, in response to Ocasio-Cortez’s calls for the company to break up, said Swift’s concert is not being promoted by Live Nation, but by its competitor AEG Presents.

“While AOC may not like every element of our business, it is interesting to note that AEG, our competitor who is the promoter of Taylor Swift, has chosen to use us because we are, in fact, the largest and most effective ticket seller in the world”.

Maffei said Ticketmaster attempted to build “capacity for peak demand,” but Swift’s ticket sales “exceeded all expectations.” He also stated that Swift’s absence from touring since the Reputation Tour in 2018 “caused a huge problem”.

Amid customer complaints during the first two days of ticket sales, Tennessee Attorney General Jonathan Skrmetti said he is looking into consumer complaints from upset fans.

Even White House Chief of Staff Ron Klain did an excavation to Ticketmaster on Tuesday noting that the student loan forgiveness application processed 8 million applications in the first 30 hours of its launch without crashing.

Public sales for the Eras Tour open Fridays at 10am local time at the venue.

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