Ticketmaster Appoints Saumil Mehta as New President to Lead AI Transformation

Ticketmaster has named a new global president. The ticketing giant announced Saumil Mehta’s appointment on Tuesday. He will take over the role starting November 1.

This leadership change aims to steer the company through a major technological shift. Current president Mark Yovich will transition to chairman, focusing on long-term strategy. According to Reuters, the move signals a new direction for the firm.

A New Leader for a New Era

Mehta joins from Square, where he served as chief product officer. He brings nearly a decade of experience in tech and product development. He will report directly to Live Nation CEO Michael Rapino.

The company stated Mehta was chosen to “accelerate an AI transformation.” His background includes advising several AI startups. This expertise is seen as key to Ticketmaster’s future plans.

Navigating Legal and Market Challenges

This appointment comes during a turbulent period. The Department of Justice filed an antitrust lawsuit against parent company Live Nation in May 2024. The suit alleges monopoly practices and seeks to break up the company.

The Federal Trade Commission filed a separate suit last month. It accuses Ticketmaster of violating the BOTS Act. The company is alleged to have coordinated with scalpers to circumvent ticket limits.

Despite these legal challenges, the company’s financial performance remains strong. Live Nation posted $7 billion in revenue for its second quarter. Ticketmaster itself generated about $742 million during that period.

The appointment of Saumil Mehta marks a pivotal moment for Ticketmaster as it seeks to leverage AI technology to improve its services and navigate significant legal headwinds. The company’s focus on a technological overhaul underscores its commitment to evolving the fan experience amidst ongoing scrutiny.

Info at your fingertips

Who is Saumil Mehta?

Saumil Mehta is the newly appointed global president of Ticketmaster. He previously served as the chief product officer at Square. His background includes extensive experience in technology and product development.

What is Mark Yovich’s new role?

Mark Yovich is transitioning from president to chairman of Ticketmaster. In this new capacity, he will focus on the company’s long-term strategy and global growth. This move was part of the leadership announcement made on Tuesday.

What legal issues is Ticketmaster facing?

Ticketmaster and its parent company Live Nation face an antitrust lawsuit from the Department of Justice. The Federal Trade Commission has also filed a separate suit alleging violations of the BOTS Act. These legal challenges accuse the company of anti-competitive practices and working with scalpers.

How will AI change the ticket-buying experience?

Ticketmaster states AI will help build smarter ways for fans to connect with live events. The technology aims to fortify ticketing infrastructure against bad actors. It is also intended to create a more intuitive purchasing process for customers.

Is Live Nation financially struggling despite the lawsuits?

No, Live Nation’s financial reports show strong performance. The company posted $7 billion in revenue for its second quarter. Ticketmaster contributed $742 million to that total figure.