The superstar tightens the way he concert tickets are sold—and scalpers aren’t happy
Taylor Swift’s most recent tour was a success by every measure. Named after the best-selling album of her career, 1989, it grossed more than $250 million worldwide, the top tour of 2015. Critics raved about the production, with one going so far as to say it was “engineered to be the best night of your life.” Yet Swift felt something was missing—about $85 million in revenue that went to scalpers.
Some 30 percent to 40 percent of tickets to the world’s top concerts are resold on secondary websites such as StubHub and SeatGeek. Many of those sales are by scalpers who believe people are willing to pay far more than the initial price to see stars of Swift’s magnitude; they double and sometimes triple the ticket price. Thousands of Swift’s die-hard fans, Swifties, spent huge sums the singer never saw. That didn’t sit well with Swift, who is as much an entrepreneur as she is an artist.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers
