Morning Wire Economy Hits Black Friday & Taylor Swift Ticketmaster Meltdown | 11.25.22
Nov 25, 2022
The chaos surrounding Taylor Swift's concert ticket sales reveals major issues with Ticketmaster, as fans express frustration over website crashes and high prices. Meanwhile, retailers brace for a challenging Black Friday, grappling with inflation's impact on consumer spending. A new report ranks states on their business-friendliness, highlighting tax policies that either boost or hinder economic growth. Antitrust concerns loom large for Ticketmaster as scrutiny intensifies amid ongoing fan outrage.
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Inflation's Impact on Holiday Spending
- Inflation is impacting holiday spending, with consumers planning to buy fewer gifts.
- Charitable donations are also expected to decrease due to economic concerns.
Ticketmaster Meltdown
- Taylor Swift's concert ticket sales caused Ticketmaster's site to crash due to high demand and bot attacks.
- This led to fan outrage and calls for breaking up Ticketmaster's perceived monopoly.
Springsteen Ticket Controversy
- Bruce Springsteen faced criticism for high ticket prices, attributed to Ticketmaster's dynamic pricing model.
- Springsteen defended the prices, claiming they were affordable.