Ticketmaster Admits “Could Have Done Better” as 3.5 Million Fans Rush for Taylor Swift Tickets

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Live Nation Entertainment ($NYSE:LYV) is a global entertainment company that is the world’s leading live entertainment promoter and ticket seller. The company has recently come under fire for its handling of the Taylor Swift ticket fiasco in 2022, in which 3.5 million fans all tried to buy the same tickets at once. In response to this, Ticketmaster, a division of Live Nation Entertainment, has admitted that it “could have done better” in handling the situation. The surge in demand from “bots” attempting to purchase tickets forced the company to call off the public sale. This was more than Ticketmaster’s system could handle, and as a result, many fans were left without tickets. The company has acknowledged that it should have been better prepared for such an influx of customers, but it has also learned important lessons from the experience. In order to prevent similar issues in the future, Ticketmaster has implemented new technologies, such as identity verification and ticket limits, to ensure that tickets are sold fairly and safely.

Furthermore, the company has increased its customer service staff to better assist fans with any issues they may have. Live Nation Entertainment is also taking steps to ensure that it is better prepared to handle any similar situations in the future. The company has made several changes to its website to make it easier for fans to buy tickets and has increased security measures to make sure that tickets are not bought up by scalpers or bots. It is also working on new technology that will allow fans to purchase tickets safely and securely. Although the Taylor Swift ticket fiasco was an unfortunate event, it has helped Live Nation Entertainment learn some important lessons. The company has taken steps to make sure that similar incidents do not occur in the future, and its efforts should be applauded.

Stock Price

On Monday, LIVE NATION ENTERTAINMENT stock opened at $75.6 and closed at $75.9, up by 1.1% from its previous closing price of 75.1. This came after Ticketmaster, a subsidiary of the company, admitted that it “could have done better” as 3.5 million fans rushed for Taylor Swift tickets. The event was marked by massive crowds and overwhelming demand for tickets, which were sold out within minutes of their release. Despite the success of the event, news coverage has been mostly negative, with many criticizing Ticketmaster for not being able to handle the surge of demand. Ticketmaster attempted to address the situation by increasing their ticketing capacity and offering additional tickets to fans.

However, it was too little too late, and many fans were left disappointed. In a statement, Ticketmaster acknowledged that they “could have done better” and apologized for not being able to satisfy the demand for tickets. In spite of the controversy surrounding the event, LIVE NATION ENTERTAINMENT’s stock price was unaffected. It opened at $75.6 and closed at $75.9, showing a 1.1% increase from its previous closing price. This suggests that investors are confident in the company’s ability to weather criticism and continue to provide successful ticketing services in the future. Live Quote…

About the Company

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VI Analysis

Company fundamentals are essential in determining a company’s long term potential. The VI app simplifies the analysis of these fundamentals, and provides an overview of LIVE NATION ENTERTAINMENT through the VI Star Chart. According to the chart, LIVE NATION ENTERTAINMENT is strong in asset and growth, medium in profitability and weak in dividend. This type of company is classified as a ‘cheetah’, meaning it has achieved high revenue or earnings growth but may be considered less stable due to lower profitability. These companies are attractive to investors who favour growth potential over stability, as they can potentially provide higher returns. In terms of its financial health, LIVE NATION ENTERTAINMENT has an intermediate score of 6/10. This indicates that it is likely to pay off debt and fund future operations. However, investors should take into consideration the company’s fundamentals and the associated risks before investing. More…

VI Peers

Its competitors include Warner Bros. Discovery Inc, SD Entertainment Inc, Imagination TV Inc.

– Warner Bros.Discovery Inc ($NASDAQ:WBD)

Discovery Inc. is an American global mass media and entertainment company. It produces and distributes content across multiple genres, including factual and reality programming, sports, and general entertainment. The company has a market cap of 32.75B and a ROE of -5.76%. Discovery Inc. was founded in 1985 and is headquartered in Silver Spring, Maryland.

– SD Entertainment Inc ($TSE:4650)

S2 Games is a publicly traded American video game developer and publisher headquartered in Boston, Massachusetts. The company was founded in 2003 by James Green and Marc DeForest. S2 Games is best known for developing the video game franchises HoN and Strife. As of 2022, S2 Games has a market cap of 2.46B and a return on equity of 14.92%. The company specializes in developing and publishing free-to-play online games.

– Imagination TV Inc ($OTCPK:IMTV)

Imagination TV Inc is a publicly traded company with a market cap of 1.22k as of 2022. The company has a Return on Equity of 143.46%. Imagination TV Inc is a media and entertainment company that creates and distributes content across multiple platforms. The company’s content is distributed through television, film, digital, and social media.

Summary

Live Nation Entertainment is a leading live entertainment and ticketing company. It has seen strong growth in recent years due to its focus on live events and its ability to secure top performers. Investors have been drawn to the company’s potential for long-term growth, as well as its stability, with few external risks. Live Nation has a diversified portfolio of businesses, including ticketing, concerts, sponsorship, artist management, and more.

It has also been successful in leveraging technology to improve the customer experience and increase efficiency. The company has a strong balance sheet with healthy cash flow and liquidity, making it an attractive investment for those looking for long-term growth.