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WASHINGTON, Dec 6 (Reuters) - The chair of the Federal Trade Commission, Lina Khan, on Tuesday said giant companies like Ticketmaster (LYV.N), which faces a tsunami of criticism for problems in selling tickets to a 2023 Taylor Swift tour, can become "too big to care." "There can be concerns that when firms become (large) they can become too big to care," she added, saying giant firms may feel no need to invest in innovation because they do not face tough competition. Ticketmaster has drawn fresh heat from U.S. lawmakers over how it handled ticket sales for Swift's first tour in five years. Last month, U.S. lawmakers pressed the FTC to enforce a 2016 law against ticket scalpers using bots after Ticketmaster blamed the software for troubles selling tickets to Swift's tour. Ticketmaster has blamed problems with presale ticketing for the tour on unprecedented demand and an effort to keep out bots run by ticket scalpers.

☆ Big firms like Ticketmaster can become 'too big to care,' FTC chair says
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 6 (Reuters) - The chair of the Federal Trade Commission, Lina Khan, on Tuesday said giant companies like Ticketmaster (LYV.N), which faces a tsunami of criticism for problems in selling tickets to a 2023 Taylor Swift tour, can become "too big to care." Speaking at the Wall Street Journal's CEO Council Summit, Khan said that it was the Justice Department that approved the merger of Ticketmaster and Live Nation in 2010 and referenced a report that the department had a probe under way. "There can be concerns that when firms become (large) they can become too big to care," she added, saying that giant firms may feel like they don't need to invest in innovation because they're not facing tough competition. "There's been public reporting that the Justice Department continues to look at this and I'm sure it's top of mind for them, given all the incoming that they're getting," she added. Neither Ticketmaster nor the Justice Department immediately responded to requests for comment.

☆ Taylor Swift Fans Sue Ticketmaster After ‘Eras Tour’ Sales Debacle
▼ + stars: | 2022-12-06 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Taylor Swift says it was ‘excruciating’ to watch the Ticketmaster debacle. More than two dozen Taylor Swift fans sued Ticketmaster in a California court for anticompetitive and fraudulent behavior after they alleged the company blocked them from buying tickets last month to the musician’s concerts. In the lawsuit, filed in Los Angeles County Superior Court, the fans said Ticketmaster knew the sale would be plagued with issues in part because it had let too many people access the presale.

☆ Lawmakers tell Live Nation CEO they want answers on the Taylor Swift Ticketmaster fiasco
▼ + stars: | 2022-12-06 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

Taylor Swift accepts an award onstage during the MTV Europe Music Awards 2022 held at PSD Bank Dome on November 13, 2022 in Duesseldorf, Germany. Lawmakers have some questions for Live Nation's CEO after Ticketmaster bungled the recent sale of Taylor Swift tour tickets. Ticketmaster was supposed to open up sales for 1.5 million verified Taylor Swift fans last month ahead of general public ticket sales. Ultimately, 2 million tickets were sold during the presale and the general public sale was canceled, company representatives said. Eras tour tickets were priced from $49 to $450, with VIP packages starting at $199 and reaching $899.

☆ Congress wants to grill Live Nation’s CEO over the Taylor Swift Ticketmaster fiasco
▼ + stars: | 2022-12-06 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

It also wants answers about how Ticketmaster plans to improve in the future. Swift’s Eras tour kicks off March 17 and will have 52 concerts in multiple stadiums across the United States over five months. In its letter to Rapino, the committee also said it wants information about the fees Ticketmaster charges customers. Rapino and Live Nation have caught the ire of Congress before. Senator Amy Klobuchar criticized Ticketmaster in an open letter Rapino in the days following the ticket snafu, saying she has “serious concerns” about the company’s operations.

☆ More than two dozen Taylor Swift fans sue Ticketmaster
▼ + stars: | 2022-12-05 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

More than two dozen Taylor Swift fans are suing Ticketmaster parent Live Nation Entertainment, Inc. for “unlawful conduct” in the pop star’s chaotic tour sale, claiming the ticketing giant violated antitrust laws, among others. The lawsuit, filed in a California court on Friday, alleges Ticketmaster and its parent company were anti-competitive, imposing higher prices on fans in the presale, sale and resale market. The lawsuit also claimed that since Ticketmaster has agreements with the large stadiums in the tour, Swift “has no choice” but to work with Ticketmaster due to the size of her fan base. It also alleges that Ticketmaster profits off the resale of tickets in the secondary market by adding a service fee to its fan-to-fan exchange. Pre-sale tickets for “The Eras Tour” frustrated Swift fans across the country in a debacle that stayed in the headlines for weeks.

☆ Taylor Swift fans sue Ticketmaster following fumbled presale
▼ + stars: | 2022-12-04 | by ( Francesca Gariano | ) www.nbcnews.com time to read: +3 min

The plaintiffs are seeking a penalty of $2,500 against Ticketmaster for every violation of Business and Professions Code, section 17200. The lawsuit specifically cited the “ticket sale disaster” that occurred on Nov. 15 and Nov. 16 during the Verified Fan presale, which caused the site to crash, and the Capital One presale. “We believe that both Taylor Swift and her fans were hurt by Ticketmaster,” said Jennifer Kinder, an attorney for the plaintiffs, in a statement. “Even when a high demand on sale goes flawlessly from a tech perspective, many fans are left empty handed,” Ticketmaster said. “It goes without saying that I’m extremely protective of my fans,” Swift wrote.

☆ Bath & Body Works gave some customers early access to Candle Day, creating extra buzz for its most-anticipated sale day and drawing comparisons to Ticketmaster
▼ + stars: | 2022-12-02 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Bath & Body Works' annual Candle Day sale kicked off on Friday — $26.50 candles are on sale for $9.95. The brand's annual candle sale, known as Candle Day, kicked off Friday and extends through Saturday, December 3. Also new this year: early access for Bath & Body Works rewards members that allowed loyal customers to begin shopping from 8 p.m. Eastern to midnight on December 1. Bath & Body Works has been hosting Candle Day for 11 years and "millions of Americans" have shopped during the event, the brand says. Bath & Body Works is one of a growing cohort of brands creating virtual "waiting rooms" ahead of big sales.

☆ A group of Taylor Swift fans is demanding the Federal Trade Commission investigate Ticketmaster for "predatory" and "misleading" tactics. Read their complaint.
▼ + stars: | 2022-12-02 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

Nine Swifties have asked the FTC to look into Ticketmaster's ticket presale for her upcoming tour. The group is urging Swift fans to file complaints with their state attorneys general. The complaint also claimed that Ticketmaster violated the Americans with Disabilities Act by not making clear which seats were accessible to people with disabilities. The complaint claims Ticketmaster's 2010 tie-up with Live Nation should have been blocked. "This is bigger than Taylor Swift," said Burger.

☆ IMF urges China to boost COVID vaccinations, restore property sector confidence
▼ + stars: | 2022-11-23 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 23 (Reuters) - The International Monetary Fund urged China on Wednesday to boost COVID-19 vaccination rates and give more robust support to its troubled property sector to restore confidence and reduce risks from a global economic slowdown and high energy prices. In a statement following virtual meetings for its annual review of China's economic policies, the IMF said it was maintaining GDP growth forecasts issued in October. The IMF said economic risks for China were tilted to the downside, due to headwinds from a global slowdown, higher energy prices and tighter global financial conditions. PROPERTY SUPPORTThe Fund applauded authorities' recent support initiatives for China's slumping property sector, including a loan program to help complete unfinished homes and allowing forbearance on troubled property loans. The IMF also renewed its longstanding call for more market-based reforms in China, including ensuring "competitive neutrality" between private and state-owned firms.

☆ 3 senators call for DOJ to potentially unwind the Ticketmaster and Live Nation merger: 'High prices and labyrinth-like ticketing process for Taylor Swift's Eras tour are clear examples of the harms co
▼ + stars: | 2022-11-22 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

"The high prices and labyrinth-like ticketing process for Taylor Swift's Eras tour are clear examples of the harms consumers face in an anti-competitive ticketing market," the senators write. Live Nation Entertainment has said that it "does not engage in behaviors that could justify antitrust litigation, let alone orders that would require it to alter fundamental business practices." The DOJ and Live Nation Entertainment did not immediately respond to Insider's request for comment on the letter. UMAW is also pushing for the merger between Live Nation and Ticketmaster to be unwound. Put simply, artists, venues, and consumers should no longer be at the mercy of a single seller."

WASHINGTON, Nov 22 (Reuters) - A U.S. Senate antitrust panel will hold a hearing on the lack of competition in the ticketing industry after Ticketmaster's problems last week managing the sale of Taylor Swift tickets, Senator Amy Klobuchar, chair of the panel, said on Tuesday. "That’s why we will hold a hearing on how consolidation in the live entertainment and ticketing industry harms customers and artists alike." Senators Klobuchar and Mike Lee, the top Republican on the committee, did not provide a date for the hearing or a list of witnesses. For her part, the pop superstar on Friday said it was "excruciating" for her to watch fans struggle to secure tickets and that she had been assured that Ticketmaster could handle large demand. Reporting by Diane Bartz; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Some of Taylor Swift's biggest fans are also lawyers. After Ticketmaster's botched handling of her Eras Tour, they're mobilizing to take the ticketing giant down.
▼ + stars: | 2022-11-21 | by ( Nicole Tabak | ) www.businessinsider.com time to read: +10 min

Ticketmaster badly botched its sale of Taylor Swift tour tickets last week. Facing endless questions and concerns over the chaos that ensued during presales for Swift's upcoming Eras Tour, fans gathered on social media not just to commiserate, but to take action. How Ticketmaster's chaotic handling of the Eras Tour presale may lead to its undoingSwift fans shared screenshots of the long queues for tickets. "And I know that sounds stupid to people who don't love Taylor Swift the way that a lot of us do. The momentum may be thanks to her Eras Tour, but this is about holding a monopoly accountable.

☆ Meet a Taylor Swift fan who regrets paying $5,500 for resale tickets: 'I'm embarrassed I did it, I regret it, and I kind of just wish I had a nosebleed ticket'
▼ + stars: | 2022-11-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Paige, a Swiftie of 15 years, was not enchanted by the way ticket sales went down for the Eras tour. Swifties across the country have been disappointed by high-priced resale tickets and ticket scarcity. The gold rush on Swift tickets has led to some tickets being resold for up to $13,000. Paige says she saw tickets going for $33,000 when she purchased hers. "Like in the same way getting something in the wrong way would feel bad, it's the same with this.

☆ Taylor Swift Fans Grieve ‘Eras Tour’ Presale With Merch
▼ + stars: | 2022-11-19 | by ( Ashley Wong | ) www.wsj.com time to read: 1 min

Taylor Swift fans who couldn’t get tickets to her upcoming tour may appreciate cheeky merch about the presale. As third-party sellers look to make thousands on Taylor Swift tickets, fans who couldn’t secure seats to her tour are turning their disappointment into cheeky merchandise that takes aim at ticketing sites. Another refers to the “Eras Tour” as the “Errors Tour.” Soy wax candles and smartphone cases display a tweet styled as if it were sent from Ticketmaster’s account that says “It’s me, hi. I’m the problem, it’s me,” echoing another of Swift’s song lyrics. The “2000+ people ahead of you” message that crushed many fans’ tour-going dreams appears on T-shirts, crew-neck sweatshirts and stickers.

☆ Ticketmaster provides no real answers as it struggles to explain disastrous Taylor Swift Eras Tour concert sale
▼ + stars: | 2022-11-19 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

Ticketmaster apologized for its chaotic and botched ticket-sale system for Taylor Swift's upcoming tour. "We want to apologize to Taylor and all of her fans — especially those who had a terrible experience trying to purchase tickets," Ticketmaster wrote in a tweet Friday night. "We're working to shore up our tech for the new bar that has been set by demand for the Taylor Swift | The Eras Tour," Ticketmaster wrote. This disrupted the predictability and reliability that is the hallmark of our Verified Fan platform," Ticketmaster wrote. According to Ticketmaster, a record-breaking 3.5 million fans registered to the verified presale in hopes of snagging a ticket on Nov. 15.

☆ Taylor Swift Says It Was ‘Excruciating’ to Watch Ticketmaster Debacle
▼ + stars: | 2022-11-18 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Taylor Swift has responded to the Ticketmaster debacle that blocked many of her fans this week from getting tickets to her tour, saying Friday that it was “excruciating for me to just watch mistakes happen with no recourse.”Live Nation Entertainment Inc.’s Ticketmaster, the online ticket vendor, opened its presale Tuesday to select fans who had registered in advance. Millions of people swarmed the site, causing it to crash and forcing fans to wait sometimes hours to secure seats for the “Eras Tour” next year. Some fans didn’t get tickets.

Taylor Swift on Friday responded to fan frustration over the botched presale for her upcoming “The Eras” tour which led to Ticketmaster's decision to cancel the public sale of tickets. In her Instagram story, Swift wrote it "goes without saying that I'm extremely protective of my fans." Ticketmaster tweeted Thursday that “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 said on Thursday more than 3.5 million people pre-registered for the Taylor’s Verified Fan sale, the largest in its history. That meant 1.5 million fans were invited to buy tickets, while the remaining 2 million were waitlisted.

☆ White House on Taylor Swift Ticketmaster debacle: Capitalism without competition is exploitation
▼ + stars: | 2022-11-18 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

White House Press Secretary Karine Jean-Pierre answers questions during the daily press briefing at the White House in Washington, August 9, 2022. Declining to comment on "any potential investigation" by the Justice Department, Jean-Pierre said Biden has been clear on how he feels about companies that hold monopolies. Ticketmaster, part of Live Nation, is facing scrutiny for its roll out of Taylor Swift concert tickets. The New York Times reported Friday the Justice Department had opened an antitrust probe into Live Nation after the fiasco. Live Nation Entertainment is a merger between Ticketmaster and Live Nation in 2010.

☆ Alexandria Ocasio-Cortez tells pissed-off Swifties to demand the Justice Department break up Ticketmaster after Taylor Swift tickets debacle
▼ + stars: | 2022-11-18 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Lawmakers have previously called for the Justice Department to investigated the company. Take action with @MorePerfectUS," Ocasio-Cortez tweeted after the news broke, directing her followers to a tweet that said: "Tell the DOJ to break Ticketmaster up here." The tweet also included a link to a form that allowed users to sign up to send an email to the Justice Department requesting the investigation. It's time for the Department of Justice (DOJ) to investigate their conduct and move to break them up." The White House has not indicated whether it plans to investigate Live Nation Entertainment, although President Joe Biden indicated last month federal regulators were working to address "junk fees" tacked onto things like entrainment and travel.

☆ Ticketmaster's owner is reportedly being investigated by the Justice Department as the company faces widespread criticism from Taylor Swift fans
▼ + stars: | 2022-11-18 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +1 min

The Justice Department has been investigating Ticketmaster owner Live Nation Entertainment, NYT reports. Live Nation and Ticketmaster have been criticized after a bungled presale for Taylor Swift's tour. In 2010, Live Nation and Ticketmaster merged after the deal was approved by the Justice Department. The Department of Justice declined an Insider request for comment. The issues drew widespread criticism among Swift's fanbase, and the cancellation of Ticketmaster's general ticket sale further exacerbated the issue, leaving fans looking to attend the concert to pay prices up to thousands of dollars on resale sites.

Your credit card could get you access to high-demand events like Taylor Swift's latest concert. Jun Sato/TAS18/Getty ImagesMany credit card issuers offer access to presale, preferred seating, and VIP ticket offers. Read our review Read Our Review A looong arrow, pointing rightIf you have a Citi credit card or debit card, you can access exclusive ticket offers through the Citi Entertainment program. Note that credit card lenders may use many different variations of credit score models when considering your application. Don't wait until a day or two before presale to open a credit card that'll give you this access, as you won't receive it in time.

☆ U.S. senator plans Ticketmaster hearing this year
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Nov 18 (Reuters) - Congress plans to hold a hearing on Ticketmaster (LYV.N), prompted by problems with Taylor Swift ticket sales this week and long-running issues like hidden fees, a key senator said on Friday. Senator Amy Klobuchar, chair of the Senate antitrust panel, did not give a date for the hearing but said it would be this year. Ticketmaster has been sharply criticized for mishandling ticket sales for Swift's 2023 tour, her first in five years. In the "presale" round on Tuesday, many fans faced site outages and long wait times as over 2 million tickets were sold. read moreReporting by Diane Bartz Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Ticketmaster announced in a tweet on Thursday it had canceled the public sale of tickets to Taylor Swift's "The Eras" Tour. "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 wrote in the tweet. This meant 1.5 million fans were invited to buy tickets while the remaining 2 million were waitlisted. In its statement, Ticketmaster said that even if a ticket sale goes perfectly, fans still tend to leave empty-handed. Despite the bungled pre-sale, Ticketmaster said more than 2 million tickets were sold on Nov. 15 for Swift's tour.

☆ Ticketmaster Sells More Than Two Million Taylor Swift Tickets in One Day, a Record
▼ + stars: | 2022-11-17 | by ( Anne Steele | Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Taylor Swift ’s presale for her first tour in five years broke sales records as millions of fans rushed to snap up tickets despite glitches affecting Ticketmaster’s system and backlash from politicians over the ticket seller’s power. Ms. Swift’s 52-date stadium run sold over two million tickets on Tuesday—more than any other artist in a single day, according to the company. Tuesday’s presale was limited to a select group of people who had registered with Ticketmaster, part of an effort to ensure that actual fans, rather than scalpers, got first crack at tickets.

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