Money

Ticketmaster cancels public sale for upcoming Taylor Swift tour

Ticketmaster cancels public sale for Taylor Swift tour, fans and lawmakers demand answers

If you’re a die hard Taylor Swift fan, chances are you’re pretty frustrated right now.

Ticketmaster has cancelled the general public ticket sale for Taylor Swift’s ‘Eras’ tour.

Executives are citing”extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory” as the reason behind this decision.

Ticketmaster’s site crashed on Tuesday during the first release of tickets for Swift’s U.S. leg of the tour. The company has already sold more than 2 million tickets in pre-sales.

Now, a Democratic Senator is calling for answers, sending a letter to Ticketmaster’s parent company, Live Nation Entertainment.

In the letter, Senator and chair of the Senate antitrust panel, Amy Klobuchar, voices “serious concern.” She is worried “about the state of competition in the ticketing industry and its harmful impact on consumers.”

“Ticketmaster’s power in the primary ticket market insulates it from the competitive pressures that typically push companies to innovate and improve their services.”

In a statement released by the ticketing giant, the company says it did anticipate heavy demand for tickets to see Swift perform on her first tour in five years. But extreme interest, combined with bot attacks, led to “unprecedented traffic on the site.”

The company says around 15 per cent of interactions on the site experienced issues and overall it sold 2 million tickets on Tuesday alone.

Meanwhile, Klobuchar is asking Live Nation Chief Executive Michael Rapino to provide an explanation.

The Senator wants to know how much of the company’s profits have been spent on upgrading ticketing technology and how many tour tickets were reserved for the presale.

The Ticketmaster statement did not respond to these questions.

Up next
Is Australia’s economy being held hostage by the housing market?

Australia’s growing dependence on property is raising questions about the long-term strength of the economy, with housing affordability.

Read the story →
Ticker Today takes a daily view of the world of news, politics and business.With Ahron YoungWhisky & Suits explores law, property finance and business over fine whisky.With Imran Khan and Chris ChristofiThe Founders Method explores practical lessons and systems for entrepreneursWith Jonathan Byrt and Jesse LeeworthyThe Connector explores property and urban growth across Australia and the UK.With Belinda CoateThe Property Playbook delivers research-led insights for property investors.With Tim Graham and Terry RyderState of Hospitality explores the challenges facing Australia's hospitality.With Jeremy KoadlowBuying Power helps young professionals enter property and build lasting wealth.With Victor and Reshmi KumarThe Airport Economist explores global trade, business and economic outlooks.With Tim HarcourtMedia Movers explores the trends shaping Australia's media and global news.With James ManningBroker Business explores strategies to build, grow and sustain a business.With Rex AfrasiabiMoney Matters explores practical financial strategies to build lasting wealth.With Dr Steven EnticottBeyond Education explores the ideas and technology shaping future learning.With Greg CampitelliTicker Air explores the latest aviation news, travel trends and developments.With Ahron YoungEarly Years Dialogue explores the issues shaping Australia's early learning.With Paul MondoMarkets and Machines explores AI, regulation and trends shaping the markets.With Chris BergSocial Intelligence explores how social media and AI transform our daily lives.With Dr Karen SutherlandThe AI Edge explores how artificial intelligence reshapes the world economy.With Brad Gastwirth

More from Ticker

Watch

More in Money

View all →