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Ticketmaster, monopolies and the wrath of Swifties

Marketplace

Marketplace

News, Business

4.68.6K Ratings

🗓️ 17 November 2022

⏱️ 27 minutes

🧾️ Download transcript

Summary

There’s bad blood between Taylor Swift fans and Ticketmaster after the site was nearly overwhelmed by fans trying to nab concert tickets. But the company is also drawing ire from elected officials who call it a monopoly. Today, how Ticketmaster cornered the market on live events. Plus, Starbucks workers go on strike, the FCC readies an updated broadband map and one reporter documents her return to China’s zero-COVID bubble.

Transcript

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0:00.0

Tis the season of gratitude, you know, and I wanted to take a minute to thank our marketplace

0:04.6

investors. That is a community of listeners who've gone above and beyond to support our work

0:09.2

and to ensure that trustworthy news and information is available to all. And in a year like this one,

0:15.3

that means a lot. Each and every investor matters and makes a real difference here at marketplace.

0:20.2

So on behalf of all of us, thank you.

0:22.5

Yeah, we got Taylor Swift tickets today. Oh, and yeah, the global economy too. From American public

0:32.6

media, this is Marketplace.

0:44.8

In Los Angeles, I'm Kyle Rizdo. It is Thursday, today, the 17th of November. It is always to have

0:50.3

you along. Everybody, we are going to begin today with a little transatlantic. He said, he said,

0:56.2

kind of a bellweather of where the global and American economies are right now as distilled into

1:02.1

two quotations. Over in the UK, the chancellor of the ex-checker, Jeremy Hunt said this morning

1:07.9

that the UK economy is now in recession. That's the quote. It came as Hunt took the wraps off the

1:14.8

new government's new fiscal plan after the, well, I guess you might say adverse market reaction to

1:20.4

former chancellor quasi-quartons plan. That market reaction in case you'd forgotten was,

1:26.2

was very not good actually on a brighter note for the Brits. The pound today costs $1.19 up from

1:32.8

like $1.3 a month or two ago. Quartan number two on this Thursday comes from Jim Bullard. He's the

1:39.6

president of the Federal Reserve Bank of St. Louis. Also, this year, a voting member of the

1:44.1

interest rate setting, Federal Open Market Committee. Bullard said today, and this is a quote again,

1:49.5

I think we're going to want to err on the side of staying higher for longer. Higher, of course,

1:55.8

meaning interest rates and longer, you know, meaning longer fed meats in about a month from now,

2:04.2

middle of December. Okay, completely changing gears. I've got a friend who's got a friend who's

2:10.9

got six, count them six Taylor Swift tickets. I am unaware of the technological alchemy this person

...

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