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☆ The problem with home-flipping giants
▼ + stars: | 2023-03-01 | by ( Aj Latrace | ) www.businessinsider.com time to read: +9 min

Meanwhile, the corporate scalpers of the housing market — companies that buy and relist homes by the thousands without doing much, if any, work on them to make a profit — are struggling. Last week, two of the biggest remaining corporate home-flipping companies, Opendoor and Offerpad, reported dismal earnings, another sign that their business model is incredibly risky. Kelman also said one "problem is that iBuying is a staggering amount of money and risk for a now-uncertain benefit. At its core, the main business model of home-flipping firms doesn't create a ton of immediate value. Opendoor, Offerpad, and other companies that rushed to purchase homes are now discounting the asking prices of those homes to get them off their books.

☆ The Senators who grilled Ticketmaster's executives over Taylor Swift tickets want the Department of Justice to keep examining the company's merger with Live Nation
▼ + stars: | 2023-02-23 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Amy Klobuchar and Mike Lee are asking the DOJ to keep examining Ticketmaster and Live Nation. The letter and hearing come after renewed interest in the 2010 merger of Ticketmaster and Live Nation. Neither Live Nation Entertainment nor the Department of Justice immediately replied to Insider's request for comment. The senators note that, following their hearing on Ticketmaster and Live Nation, they, like Swift, had a question. They said they asked how many concerts every year were simultaneously promoted by Live Nation and ticketed by Ticketmaster.

☆ Super Bowl ad hits feature 'The Flash', Disney as automakers pull back
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

Auto ads, usually among the most popular during the Super Bowl, were mostly absent this year in another sign of reduced spending by automakers grappling with a tough economy and shrinking consumer wallets. Data from research firm Edo showed that Warner Bros Discovery's (WBD.O) 45-second "The Flash" trailer with two Batmans - Michael Keaton and Ben Affleck - was 24 times more effective than the median Super Bowl LVII ad. The Super Bowl is one of the most lucrative hours for advertisers hoping to grab the attention of over a 100 million people watching the game. On Sunday, the Kansas City Chiefs secured a dramatic 38-35 win over the Philadelphia Eagles to claim their second Super Bowl victory in four years. The average cost of a 30-second Super Bowl spot this year was about $7 million, an 84% surge from ten years ago, data from Statista showed.

☆ Taylor Swift is the highest paid female entertainer in the world, earning $92 million in 2022
▼ + stars: | 2023-02-13 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Taylor Swift is the highest paid female entertainer in the world, earning a cool $92 million in 2022 following the success of her 10th studio album "Midnights," according to a new report from Forbes. To determine the ranking, Forbes considers entertainers' total 2022 pretax earnings, minus fees for representation (managers, lawyers, etc.) While 2022 was a strong year for Swift, her annual earnings were still less than half of what the highest paid entertainers in the world, the progressive rock band Genesis, made last year. Altogether, Genesis earned $230 million in 2022, thanks to a $300 million music rights sale to Concord Music Group in September. There wasn't a single woman on Forbes's list of the top 10 highest paid entertainers in 2022 — the highest paid female entertainer, Reese Witherspoon, ranked 12th for making $115 million in 2021.

☆ You still can get a ticket to the Super Bowl on game day, but it'll cost you
▼ + stars: | 2023-02-12 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +3 min

Insider checked out a few last-minute Super Bowl ticket options and found some of the cheapest seats available. StubHub cracks the $3,000 barrierSuper Bowl tickets on StubHub StubHub/ScreenshotThe lowest Super Bowl ticket price before fees on StubHub Sunday morning was $3,035. Prices over the yearsSuper Bowl ticket data from VividSeats VividSeats/screenshotSuper Bowl ticket prices have dropped significantly in the past two years, according to VividSeats, but remain far above the cost of a ticket in the 2010s. The average ticket price for Super Bowl LVII rings in at $6,024, according to VividSeats data, slightly less than the price in 2022. The average cost for 2021's game — Tom Brady's final Super Bowl — was nearly $9,500.

☆ Beyoncé’s Ticket Sales Are Ticketmaster’s Next Test After Taylor Swift
▼ + stars: | 2023-02-07 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Ticket sales to Beyoncé’s Renaissance World Tour will serve as a closely watched test for Ticketmaster in the wake of its bungled sales of Taylor Swift tickets late last year. On Tuesday, a series of presale tickets to Beyoncé shows in certain cities will become available to Citi credit-card holders before ticket sales open up to more fans in a series of staggered sales. A limited number of tickets to some shows went on sale Monday for a portion of Beyoncé’s superfans, known collectively as the BeyHive, with no initial reports of significant technical problems.

☆ Beyoncé Fans Make Plans A, B and C to Get Tickets After Taylor Swift Ticketmaster Debacle
▼ + stars: | 2023-02-06 | by ( Jennifer Calfas | Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Beyoncé fans rejoiced when the singer last week revealed her hotly anticipated “Renaissance” tour schedule. Then they quickly fell into a frenzy of urgent logistics. “This is not a drill,” read the subject line of an email Stella Safo, a 39-year-old HIV primary-care physician in New York, sent to her friends to launch their Beyoncé ticket-buying plans.

☆ Taylor Swift's mega-producer Jack Antonoff breaks down 3 problems with the economics of touring: 'Don't turn a live show into a free market'
▼ + stars: | 2023-02-06 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Ticketmaster and Live Nation have faced scorn after ticketing chaos for Taylor Swift's Eras tour. Frequent Swift collaborator Jack Antonoff, who took home producer of the year for the second year running, shared some thoughts on the economics of touring and Live Nation. When asked by Variety Magazine for a comment on Live Nation, and their impact on the industry and touring, Antonoff said that the "whole thing is incredibly tough." Representatives for Antonoff and Live Nation Entertainment did not immediately respond to Insider's requests for comment. Swift's legion of fans have prompted renewed scrutiny of Live Nation and its 2010 merger with Ticketmaster.

☆ Biden Says U.S. Economy is ‘Strong’ After Jobs Report
▼ + stars: | 2023-02-03 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

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WASHINGTON, Feb 3 (Reuters) - Ticketmaster is preparing to sell tickets for Beyonce's first tour in six years in a different way, hoping to avoid a repeat of last year's Taylor Swift debacle. Ticketmaster tweeted on Thursday that the demand to register for a chance to buy tickets for concerts in the nine cities in Group A, whose registration closed on Friday, exceeded the number of tickets by more than 800%. The North American leg of Beyonce's tour opens in Toronto on July 8 and closes in New Orleans on Sept. 27, according to the Ticketmaster website. After loud complaints from Taylor Swift fans, the company blamed more than 3.5 billion requests from fans, bots and scalpers for its overwhelmed website. On Thursday, the Judiciary Committee retweeted a news report about the Beyonce tour announcement and tweeted to @Ticketmaster, "We're watching."

☆ The Senate Judiciary Committee says it's 'watching' Ticketmaster as the battle for Beyoncé tickets begins
▼ + stars: | 2023-02-03 | by ( Rebecca Cohen | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

The Senate Judiciary Committee is "watching" Ticketmaster as tickets are about to go on sale for Beyoncé's upcoming tour. But the Senate Judiciary Committee has warned the embattled platform against having a repeat of the Taylor Swift ticket fiasco. "We're watching, @Ticketmaster," the Senate Judiciary Committee tweeted Thursday. But, in that Senate Judiciary Committee meeting last month, some senators argued Ticketmaster — which merged with Live Nation in 2010 — holds a monopoly over the ticket-buying business. Lawmakers and witnesses repeatedly hammered Live Nation Entertainment over the impact of its 2010 merger, which combined Live Nation and Ticketmaster into the larger firm.

☆ Ticketmaster braces for Beyoncé's 'Renaissance' tour amid fears of Taylor Swift-level demand
▼ + stars: | 2023-02-02 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Ticketmaster is gearing up for what's expected to be high demand for tickets to Beyoncé's upcoming "Renaissance World Tour," as the ticketing giant continues to face criticism over the botched presale for Taylor Swift's "Eras" tour last year. Beyoncé announced Wednesday that her first solo world tour since 2016 will kick off May 10 in Stockholm, Sweden, and conclude Sept. 27 in New Orleans. Registration windows vary by city, and the company warns "there will be more demand than there are tickets available." In November, verified fans for Taylor Swift's "Eras" tour presale faced long wait times, confusion and technical glitches. Within 48 hours of the presale going live, Ticketmaster canceled the general public sale, citing "extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand."

New York CNN —Thursday afternoon will round out what has so far been a sobering earnings season for the Big Tech giants. Alphabet’s revenue will likely remain flat from last year and Amazon’s sales are expected to grow just shy of 6% year-over-year. All three companies’ profits are expected to fall from the year-ago quarter, with Amazon set to suffer the steepest drop with a decline of 40.6%. Then came the press conference, which led to a steep divergence between what the Fed thinks and what the Wall Street thinks. A cautionary tale: In mid-November, Ticketmaster’s site overloaded when fans tried to purchase pre-sale tickets for Taylor Swift’s upcoming tour.

How to get Citi presale tickets for Beyoncé's Renaissance World TourSince demand for Beyoncé's tour is so high, she's using Verified Fan to help boost your shot of getting tickets. How to sign up for Citi Verified Fan Registration Visit the ticketing website during the registration period and choose which group you'd like to move forward with for Citi Verified Fan Registration. The Citi presale will run from Feb. 7 at 10 a.m. through Feb. 8 at 6 p.m., or while supplies last. The Citi presale will run from Feb. 7 at 10 a.m. through Feb. 8 at 6 p.m., or while supplies last. The Citi presale will run from Feb. 14 at 10 a.m. through Feb. 15 at 6 p.m., or while supplies last.

☆ Beyoncé Announces ‘Renaissance’ Tour, as Ticketmaster Braces for Demand
▼ + stars: | 2023-02-01 | by ( Jennifer Calfas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/beyonce-announces-renaissance-world-tour-11675262991

☆ Will Ticketmaster be able to handle Beyoncé going on tour?
▼ + stars: | 2023-02-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

In an Instagram post, the superstar posted simply “RENAISSANCEㅤ ㅤWORLD TOUR 2023.” Her website shows tour dates from May to September. Fans have been eagerly awaiting news of the tour, but many are already bracing themselves for a Ticketmaster disaster, following the recent Swift ticket debacle. On the Ticketmaster site, a search for Beyoncé tickets led to a page that says there are no upcoming events. Ticketmaster did not immediately respond to a request for comment on whether it would be selling tickets or if it can handle demand. In mid-November, Ticketmaster’s site overloaded when fans tried to purchase pre-sale tickets for just a handful of dates.

☆ John Malone prepares for a victory lap
▼ + stars: | 2023-02-01 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

Now the cable cowboy’s Liberty Media (FWONA.O) empire is trotting out its trademark financial razzle-dazzle to try and wring additional value out of its assets. Malone, Liberty Media’s chairman, is as renowned for his dizzying array of specialized equity issues, spinoffs and splits as he is for the telecom and entertainment companies that have been subjected to the intricate machinations. It excludes broadcaster Discovery, spun off from Liberty Media in 2005, and international broadband provider Liberty Global (LBTYA.O), hived off a year earlier. A more logical starting point would be 2001, when Malone carved Liberty Media out of telecom giant AT&T (T.N). Likewise, Liberty Media’s accompanying shakeup of its tracking stocks stands to further spotlight the value of Formula One.

☆ Senate Hearing on Ticketmaster’s Taylor Swift Meltdown: Five Takeaways
▼ + stars: | 2023-01-26 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Taylor Swift didn’t appear at a Senate hearing looking into last year’s botched ticket sales by Ticketmaster for her coming tour. Live Nation Entertainment Inc. faced questions from lawmakers in Washington on Tuesday, in a Senate hearing stemming from Ticketmaster’s botched ticket sales last year for Taylor Swift’s coming tour. Senators pressed Live Nation , which owns Ticketmaster, over the company’s exclusive arrangements with venues, ticketing fees, defense against cyberattacks and consumer-data protection practices. Lawmakers also sought to portray the company as a monopoly, accusing it of anticompetitive practices and suggesting that an unwinding of the 2010 merger that united the two companies be considered.

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☆ Taylor Swift Ticketmaster Debacle Prompts Lawmaker Scrutiny of Live Nation
▼ + stars: | 2023-01-25 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Live Nation Entertainment Inc. faced accusations of exorbitant ticket fees, flawed customer service and anticompetitive practices during a Senate hearing Tuesday, held after the company’s Ticketmaster unit last year botched ticket sales for Taylor Swift’s coming tour. “This is all the definition of monopoly,” said Sen. Amy Klobuchar (D., Minn.), laying out complaints from venues that fear losing Live Nation concerts should they choose to use a ticketing provider other than Live Nation’s ticketing unit, Ticketmaster. “Live Nation is so powerful that it doesn’t even need to exert pressure, it doesn’t need to threaten because people just fall in line,” she said during the Senate Judiciary Committee hearing.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Live Nation and Ticketmaster monopolyArtists, activists, and music lovers are once again calling for the break up of Live Nation and Ticketmaster. The two companies merged in 2010 forming Live Nation Entertainment but critics of the company claim it has a monopoly on the live entertainment industry. While a monopoly is not illegal, abusing a monopoly position is. Here's how the industry got here and what the future could hold.

Live Nation Entertainment is composed of Live Nation, an events promoter and venue operator, and Ticketmaster, a ticket sales giant. This is not the first time consumers have called for the breakup of Ticketmaster and Live Nation. While Live Nation Entertainment arguably has a monopoly on the industry, a monopoly in itself is not illegal in the United States. The band regularly interacts with Live Nation Entertainment. It’s unclear what's next for Live Nation Entertainment.

☆ Senators Press Live Nation Over Taylor Swift Ticketmaster Debacle
▼ + stars: | 2023-01-24 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Berchtold will argue that enforcement of the BOTS Act, a 2016 law aimed at improving online ticket sales, is lacking and call for new legislation. According to the written remarks, Berchtold will also comment on "unprecedented demand" for Taylor Swift tickets and bot traffic that was "three times" higher than it has experienced in the past. Bot traffic is typical for ticket sales, especially during popular events like Swift's highly anticipated tour. "While the bots failed to penetrate our systems or acquire any tickets, the attack required us to slow down and even pause our sales," Berchtold is expected to say. As we said after the onsale, and I reiterate today, we apologize to the many disappointed fans as well as to Ms.

☆ Taylor Swift ticket sales debacle manages to unite bitter rivals
▼ + stars: | 2023-01-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Some people may even find a kind of beauty in the way the system was designed to keep special interests in check. “To have a strong capitalist system, you have to have competition,” said Senator Amy Klobuchar, who called the hearing. “You can’t have too much consolidation — something that, unfortunately for this country, as an ode to Taylor Swift, I will say, we know all too well.”(Nice one, Ames.) ICYMI, tickets for Swift’s Eras Tour, which begins in March, went up for pre-sale on Ticketmaster in mid-November. But the bigger question of whether Live Nation is a monopoly is up to the Department of Justice.

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