On Tuesday, Ticketmaster was flooded with “unprecedented demand” for tickets to Taylor Swift’s “Eras Tour.” By Wednesday, there were skyrocketing resale prices, with some tickets priced upwards of $20,000.
Floor seats for Swift’s May 26th show at Metlife Stadium are going for $21,600 each on Stubhub. But even to get any old stadium seat, tickets are $350 at least. And that’s not even the highest number - floor seats for her April 28th show in Atlanta are going for $35,438. For context, CNN Business points out, last season’s Super Bowl tickets averaged around $10,427.
Democratic lawmakers even brought up the debacle in congress, suggesting the company's monopoly on the ticketing market has made it unsympathetic to consumers. Representative Alexandria Ocasio-Cortez specifically criticized Ticketmaster's merger with Live Nation, the other dominant company in live music. She wrote, "Daily reminder that Ticketmaster is a monopoly, it's merger with LiveNation should never have been approved, and they need to be reigned in. Break them up."
A representative from StubHub told CNN Business that it is still the pre-sale period, assuring buyers that “demand is at its highest and these prices will settle.” As of yesterday morning, Ticketmaster still displayed a message of high demand and limited ticket availability.