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Ticketmaster cancels public sale for upcoming Taylor Swift tour

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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.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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