The Eras Tour generated significant revenue but faced issues with ticket reselling schemes. A Federal Trade Commission lawsuit reveals that Key Investment Group created fake accounts to circumvent Ticketmaster's security and purchase limits. This group bought nearly 380,000 tickets for approximately $57 million and resold them for over $64 million. They violated ticket purchase restrictions by acquiring multiple tickets for Swift's concerts, leading to substantial profits. The tour emphasized the importance of addressing fraudulent ticket sales to maintain fair access for fans.
According to a new lawsuit from the Federal Trade Commission filed on Monday, one elaborate ticket reselling scheme flooded Ticketmaster with an army of fake accounts, buying up sought-after tickets for live shows like Swift's Eras Tour.
The group was able to buy 'at least' 379,776 tickets over the course of a single year, paying almost $57 million for the trove.
By reselling the tickets on secondary markets for heavy markups, the scheme netted at least $64 million in sales. For a single Eras Tour show, the reselling group bought 273 tickets using 49 different accounts.
Swift's tour enforced a strict six-ticket limit in place for each show. The company allegedly purchased at least 10 tickets to each concert from March to August 2023, making $1.2 million in profit from reselling the 2,280 tickets.
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