Ticketmaster cancels Taylor Swift concert ticket sale citing high demand

Online ticketing company Ticketmaster said in a tweet it has canceled Friday's sale of tickets for pop star Taylor Swift's The Eras Tour due to high demand and insufficient inventory.

Shares of Ticketmaster parent Live Nation Entertainment Inc shares fell as much as 2.9% to $71.85 following the tweet on Thursday.

The online ticketing company faced Democrat U.S. senator Amy Klobuchar's scrutiny over sales practices after its website crashed Tuesday morning as millions of fans looking to buy seats for Taylor Swift's first tour in five years caused periodic outages and long wait times stretching up to three hours.