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.
Due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand, tomorrow's public on-sale for Taylor Swift | The Eras Tour has been cancelled.
— Ticketmaster (@Ticketmaster) November 17, 2022
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.
— YouTube (@YouTube) November 17, 2022
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.
Peloton partners with Lululemon as stock surges
Peloton’s stock prices experienced a remarkable surge as the company unveiled an exciting collaboration with popular athletic apparel brand, Lululemon.
This strategic partnership is set to bring a fusion of digital fitness content and stylish workout apparel to fitness enthusiasts worldwide.
The partnership aims to leverage Peloton’s extensive library of on-demand and live fitness classes with Lululemon’s renowned activewear. Subscribers to Peloton’s digital fitness platform will soon have access to exclusive Lululemon workout collections, making it easier than ever for fitness enthusiasts to look and feel their best during their workouts.
Investors have responded positively to this news, driving Peloton’s stock prices to new heights. The synergy between the two companies is expected to create a win-win situation. Peloton can tap into Lululemon’s massive fan base, while Lululemon can expand its presence in the rapidly growing digital fitness market.
The partnership also includes collaborative marketing efforts, with joint promotions and events that will undoubtedly generate buzz and excitement among fitness enthusiasts. This move is seen as a bold step by both companies to stay competitive in the evolving fitness landscape.
As the fitness industry continues to evolve and adapt to changing consumer preferences, partnerships like this one highlight the importance of innovation and collaboration. Peloton and Lululemon’s joint venture promises to provide consumers with not only top-notch fitness content but also the trendiest workout attire.
Kraken to launch US stock trading, expanding offerings
Cryptocurrency exchange Kraken is set to broaden its services by enabling users to trade US-listed stocks, according to reports from Bloomberg News.
This move marks a significant expansion for the platform, allowing customers to diversify their investment portfolios beyond cryptocurrencies.
Kraken’s foray into traditional stock trading will provide its users with access to a wide range of US-listed equities, including well-known companies from various industries. By offering this additional asset class, Kraken aims to cater to the growing demand for a holistic investment experience that combines both traditional and digital assets.
The move is seen as a strategic response to the evolving landscape of financial markets, where traditional and cryptocurrency investments are becoming increasingly intertwined. Kraken intends to streamline the trading process for its users, enabling them to manage both their cryptocurrency and stock portfolios within a single platform.
Kraken’s entry into the US stock market could potentially introduce new opportunities and challenges for the exchange, as it will need to navigate the regulatory requirements associated with stock trading. However, the exchange’s established track record and commitment to compliance should help ease this transition.
This development aligns with Kraken’s ongoing efforts to position itself as a comprehensive financial services provider, offering a wide array of investment options to its global user base.
Does remote work hamper diversity efforts?
UK finance executives express concerns that remote work is hindering diversity initiatives, signaling potential setbacks in the industry’s push for inclusivity.
As businesses continue to adapt to the changing work landscape brought on by the COVID-19 pandemic, remote work has become a staple for many industries, including finance. While it has provided flexibility and continuity during uncertain times, some financial leaders are now questioning its impact on diversity and inclusion within their organizations.
In a recent survey of UK finance executives, a substantial portion voiced apprehensions about the ramifications of prolonged remote work. They argue that the lack of physical presence in the office can exacerbate disparities, making it harder to foster an inclusive work environment.
One of the primary concerns raised by these executives is the potential for remote work to perpetuate existing inequalities. They believe that employees from underrepresented groups may face more significant challenges in terms of career progression and networking when they are not physically present in the workplace. This could lead to a stagnation in efforts to diversify leadership teams and foster equal opportunities.
Furthermore, the executives highlight the difficulties in monitoring and addressing issues related to diversity when employees are dispersed geographically. Ensuring equitable access to resources, mentorship, and career development opportunities becomes a more complex task.
Despite these concerns, it’s important to note that remote work has also opened doors for talent from different locations and backgrounds, potentially contributing positively to diversity efforts. Striking a balance between the advantages of remote work and the imperative to promote diversity remains a pressing challenge for finance organizations.
Cybersecurity experts on the best ways to protect your business
Revolutionising property ownership with property syndication
How Ukraine succeeds in attacking Russian military targets
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
News2 days ago
OpenAI’s ChatGPT can now see, hear, and speak
News5 days ago
Who is PewDiePie and what’s his net worth?
News5 days ago
Elon Musk raves about “next-level” Tesla Cybertruck performance
News6 days ago
The rise of the apologetic CEO
Money5 days ago
Tinder introduces $500 monthly VIP subscription fee
Money3 days ago
Chinese youth swap LinkedIn for Tinder to find a job
Money3 days ago
What is the future of investing?
News2 days ago
Victorian Premier Daniel Andrews quits, leaving debt, lockdown legacy