Ticketmaster global chairman Jared Smith stepping down at end of 2020

Ticketmaster global chairman Jared Smith stepping down at end of 2020

Ticketmaster has confirmed global chairman Jared Smith is stepping down from his post at the end of the year. 

Smith has been with the Live Nation-owned ticketing giant since 2003. 

Previously chief operating officer and then president of the company, Smith was only upped to his current role in August when Ticketmaster also promoted president of international Mark Yovich to global president and president of North America, Amy Howe, to global COO as part of its push to align its North American and international business operations into a single entity. 

Live Nation revenue fell 98% year-on-year in Q2 2020 as concerts ground to a halt due to the pandemic, according to the company's latest financial results. 

Ticketmaster generated a loss of around $79 million (£59m) in service fees during the quarter after recording refunds for 11 million tickets across 42,000 shows. However, the entertainment leader said 86% of concert-goers had opted to keep tickets for rescheduled shows - reinforcing its expectations of a "robust outdoor summer season" in 2021.

In February, Ticketmaster expanded into Asia, acquiring Tixcraft in Taiwan and launching Ticketmaster Singapore, increasing its global presence to 32 countries.

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