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The CEO of Liberty Media, the largest shareholder in concert promotion company Live Nation, told CNBC on Thursday that 14 million people tried to purchase tickets for Taylor Swift's upcoming "Eras" tour when pre-sale began on Tuesday.
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According to Greg Maffei, Live Nation opened pre-sale to 1.5 million Taylor Swift fans, but 14 million users tried to get tickets.
The site crashed, but over 2 million tickets were sold before the general public could buy them.
Maffei sympathizes with fans who couldn't get tickets, but he said the difficulties were due to the huge demand for Swift.
As a result of the Swift debacle, Live Nation has been criticized for the technical issues, as well as for being a monopolist.
According to Maffei, Swift's concert is being promoted by a competitor, not Live Nation, which chose to sell tickets.
The number of people trying to get Swift tickets made it possible for us to fill 900 stadiums.
$28,500. Re-sellers were selling tickets to one of Swift's shows in Florida for as much as $2,500 per ticket.
Swift's last tour was "Reputation." She has released four new albums since then, including the biggest debut of her career with Midnights. Fans complained on social media about long wait times and crashes when tickets first went on sale. The demand for the tour was "historically unprecedented" and so it was postponed. Swift's biggest tour to date is called "Eras" and has more than 50 stops in North America.
The demand for Taylor Swift tickets is historically unprecedented.
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