[11] In May 2000, Ticketmaster Online-CitySearch acquired TicketWeb Inc., a ticket vendor that sold tickets online and over the phone. ", "Ticketmaster Has Its Own Secret 'Scalping Program,' Canadian Journalists Report", "Ticketmaster Responds to Senate Letter Investigating Resale Controversy: Exclusive", "Ticketmaster Faces Class-Action Lawsuit After Scalping Report", "Secretly Recorded Phone Call Offers Window Into How Live Nation Helped Metallica and Other Artists Place Tickets Directly On Resale Market", "Ticketmaster data breach: Thousands of customers may be affected", "Ticketmaster admits personal data stolen in hack attack", "Ticketmaster admits user data was stolen in breach", "The Ticketmaster breach what happened and what to do", "The Ticketmaster hack is a perfect storm of bad IT and bad comms", "Ticketmaster warns Australian customers of possible data breach", "Chat bot opens door to Ticketmaster payment card hack", "Ticketmaster Agrees to Tentative Settlement", "Ticketmaster voucher settlement was a debacle and it will get worse - MoneySmart - the Buffalo News", "Ticketmaster LLC Locks Horns with ACE Group Company Over Errors and Omissions Coverage", "Ticketmaster Canada Settles Deceptive Pricing Lawsuit for $3.4 Million", "Ticketmaster to pay $10 million in fines after admitting to illegally accessing competitor's computers", "Ticketmaster admits it hacked rival company before it went out of business", "Ticketmaster Accused of Hacking Rival Firm's Database", "Bruce Springsteen Fans Furious at Ticket Prices Going as High as $4-5K, Due to Ticketmaster's 'Dynamic Pricing', "Blink-182 Tickets Are So Expensive Because Ticketmaster Is a Disastrous Monopoly and Now Everyone Pays Ticket Broker Prices", "Ticketmaster to refund some fees after The Cure's Robert Smith says he was 'sickened' by prices", "Ticketmaster was 'experiencing technical difficulties' and outage reports surged as presale started for Taylor Swift's Eras tour", "Taylor Swift Fans Crash Ticketmaster Site", "Taylor Swift Tickets Are On Sale. Ticketmaster Delivers Another Record Quarter - AOI Up 86%, Transacted GTV Up 76% . Movies, music concerts, sports events, and stand-up comedy can be considered the backbone of the entertainment industry. Stubhub 's estimated revenue per employee is $210,165 . [77] According to FBI Assistant Director-in-Charge Williams Sweeney, "Ticketmaster used stolen information to gain an advantage over its competition, and then promoted the employees who broke the law. 100%-off invitations: access paid products for $0, Statistics &Research for Tech Companies, Ticketmaster Revenue and Growth Statistics (2023). Yes, Ticketmaster UK can only help with queries for events taking place in England, Scotland and Wales. [79], Ticketmaster and Live Nation has faced backlash for their dynamic pricing system and "platinum" tickets when tickets for Bruce Springsteen's and Blink-182's 2023 tours went on sale in July and October 2022 respectively, which saw fans of both acts criticize prices for random seats across the venue going for hundreds or thousands of dollars during pre-sales or right when tickets went on sale for the general public. Moreover, factors such as strong economic growth and prosperity, shift towards western oriented lifestyle, rising broadband penetration, and the launch of new age multiplexes, are expected to drive the market growth in countries, such as India and China, over the forecast period. RFID tags are useful in multi day events, it includes customer information which is displayed at the time of security check. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Service providers offer various deals and discounts along with special incentives such as pre-sales and additional discounts. Something went wrong while submitting the form. Following the widespread criticism of the company's handling of the pre-sale of Taylor Swift's The Eras Tour in November 2022, the Department of Justice began a formal investigation into Live Nation Entertainment on the grounds of monopoly, antitrust law and consumer rights violations. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. 2021. widespread criticism of the company's handling, Office of the Federal Prosecutor for the Consumer, Coronation Concert of Charles III and Camilla, "Live Nation reports revenue growth in 2019 to $11.5bn", "Live Nation, Ticketmaster merge; agree to U.S. terms", "Rival to Ticketron: Ticketmaster Emerging as Force in L.A.", "MICROSOFT CO-FOUNDER PAUL ALLEN BUYS CONTROL OF TICKETMASTER", "Ticketmaster Buys TicketWeb In Bid to Diversify Offerings", "TECHNOLOGY; USA Interactive Is Acquiring LendingTree in Stock Deal", "Ticketmaster moves into UK concert resales", "Ticketmaster Acquires Majority of Front Line Management", Live Nation and Ticketmaster Agree to Merge, "Justice Dept. The move enabled the company to build contracts with many well-known venues including the LA Forum. Ticketmaster's funding is not shown to the public. She concluded that she is taking the necessary measures to resolve the issue and resume the sale. Ticketmaster - Overview, News & Competitors | ZoomInfo.com [25], In 2015, Ticketmaster acquired Front Gate Tickets, a music festival ticketing service that provided services for festivals including Lollapalooza and Austin City Limits. No purchase commitment. Overview Competitors Acquisitions News & Insights President Mark Yovich CEO Approval Rating 76/100 Weigh In 1976 Beverly Hills California Los Angeles Metropolitan Area Private Independent Company This years attendance is our best yet see an extract here with an outstanding programme of speakers, guests, content and networking PLUS the annual Awards. Such services save time and are a cost-effective way of buying movie and event tickets. [118][119] The email also said "You will have until 12:00 on 27th April to claim your tickets. "[40] In other words, "Ticketmaster is effectively paid to be a punching bag" for consumer frustration with opaque add-on fees, and then some of the fees find their way back to the artist or venue. [22] The new company, which would be called Live Nation Entertainment, would also be subject to provisions for 10 years that prevented it from retaliating against venues that partnered with competing ticketing firms. After two rounds of ticket balloting remaining spare tickets were sent out to people who originally put their name down. [58], Ticketmaster secretly partners with scalpers to drive up prices for consumers. Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. Or choose from the following popular destinations. Leading companies operating in the marketplace include Razorgato; StubHub; Ticketmaster; Tickpick; Fandango; AOL Inc.; Atom Tickets LLC; Fandango; Movietickets.com; Big Cinemas; Cinemark Holdings Inc.; BookMyShow.com; Vue Entertainment; Mtime; and Kyazoonga. ticketmaster.com is ranked #1 in the eCommerce & Shopping > Tickets category and #317 Globally according to March 2023 data. Increased proliferation of the Internet and the growing trend of usingmobile applications for booking movies, sports, and live event tickets online are expected to impact growth. Get our 2-minute email updates that we send to 1,000s of people. Its headquarters is located at Beverly Hills, California, USA. The company believed this would help circumvent brokers and scalpers. Anonymous cookie used to facilitate the 'PixelYourSite' plugin which manages our analytical services. Ticketmaster made $85 million in fees, from customers who took about eight months on average to cancel their enrollment in the program. Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. It provides ticketing services for concerts, sports, arts, theatre, family, and other events. Of this revenue generated in 2022, over 2.2 billion U.S. dollars came from ticketing revenue and close to 13.5 billion U.S. dollars was generated through concerts. Digital projection combined with satellite delivery allows exhibitors to expand their product offerings, including the presentation of 3-D content and alternative entertainment. [15] Also in January, Ticketmaster acquired the UK-based secondary ticket marketplace, Getmein.com. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. This cookie is set by GDPR Cookie Consent plugin. The majority of visitors are between the ages of 25 and 34. $3.2 Billion in Event-Related Deferred Revenue, Up 2x (vs Q2 2019) Fan Attendance at Operated Venues Grew 13% (vs Q2 2019) to Over 14 Million, with Almost 30 New Venues in Pipeline . [73][74] In a related case, Ticketmaster filed suit against its liability insurance carrier, Illinois Union Insurance Company, a subsidiary of ACE Limited, in 2010 for failing to aid in its defense in the 2003 suit. Supplemental Operational and Financial Information. Ticketmaster is the official ticketing partner of the NHL, NFL, NBA, USTA, PGA Tours, a number of MLB and MLS teams, and artists and venues around the world. This website is secure and your personal details are safe. [87], Fans and customers online widely criticized Ticketmaster for a flawed ticketing model that obstructed them from purchasing tickets. In the U.S., for instance, Fandango, Movietickets.com, and Atom vie to secure the largest customer base by establishing tie-ups with leading cinema halls and offering attractive discounts to customers. Ticketmaster employees are most likely to be members of the democratic party. [57], In 2020, the Department of Justice fined Ticketmaster $3 million for violating a consent decree resulting from the Live Nation merger. BookMyShow, a prominent player in India, reportedly carries out over 35,000 transactions in a day and sells over 95,000 tickets in the country. It does not store any personal data. [121], Ticketmaster has partnerships with venues, professional sports leagues, musical acts and theatre tours[122][123][124] and target corporation in the United States and internationally. [14], In January 2008, Ticketmaster acquired Paciolan Inc., a developer of ticketing system applications and hosted ticketing systems, after litigation over the potential breach of antitrust laws. The consent decree is extended through 2025 and is required to enforce its own compliance with the decree with a penalty of $1 million for any future violations. The world of eCommerce for entertainment will be connecting, in-person at our 11th annual TheTicketingBusiness Forum on 18-19 April in Manchester, UK. TICKETMASTER UK LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity . Official Platinum Seats are premium tickets to concerts and other events made available by artists and Event Organizers through Ticketmaster. The new system is touted to give artists a higher share of the revenues that would otherwise be coming through resale ticket sales. Ticketmaster sells nearly 500 million tickets per year for a wide range of concerts, events, and games, and their websites receive over a billion visits per year. The audience of Ticketmaster.com is made up of 49.68% women and 50.32% men. Necessary cookies are absolutely essential for the website to function properly. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Ticketmaster benefits from record month of on-sales - TheTicketingBusiness News All the latest entertainment ticketing ecosystem news from around the globe and up-to-the-minute media coverage from all the leading voices in the ticketing business industry, all in one place - curated and edited by TheTicketingBusiness team at Xperiology. [35] Some economists and activist groups have claimed that high ticket prices are due to a lack of competition within the music industry. Plaintiffs claimed that the on-sale for the It's All a Blur Tour, a co-headlining concert tour by Drake and 21 Savage, "intentionally misleads consumers for [Ticketmaster's] own financial gain" by concealing information about additional show dates to drive demand and ticket prices. This cookie is set by GDPR Cookie Consent plugin. The online event ticketing market size was valued at USD 54.26 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% during the forecast period. For instance, they offer food at highly discounted prices at the event locations in a bid to remain competitive. Booking for an event overseas in different countries uses different sites. Ticketmaster Entertainment, Inc. is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world. Ticketmaster is a California-based ticket marketplace that allows individuals to buy and sell tickets for concerts, sports, theater and family events. [23] Live Nation CEO Michael Rapino was named CEO of the new company. You can change your cookie settings at any time. Michael Rapino, president and chief executive of Live Nation, said: Ticketmaster continues to lead the ticketing industry, both operationally and in digital ticketing. [24], One year after merging, Live Nation settled a previous class action lawsuit against Ticketmaster which alleged that the company had misled plaintiffs in its descriptions of delivery and processing fees. Ticketmaster Operating Metrics | Craft.co The service providers are re-designing their websites along with developing mobile applications to offer user-friendly booking experience. The movie ticketing segment is also characterized by a high degree of competition among service providers. [80][81] In March 2023, Robert Smith criticized the model and announced that the Cure would not be allowing Ticketmaster to sell dynamically-priced or platinum tickets for the band's upcoming North American tour. Ticketmaster makes $45.7M in a day. Ticketmaster has made 5 investments. [40] Utilizing such subterfuge to extract additional revenue from fans without arousing direct backlash towards themselves has become increasingly important for artists. This has elevated the demand for online ticketing in the country. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. Ticketmasters Monthly Active Users (MAU) is 113.6 million. The growing advancement in data analysis and gathering, and wireless technology is significantly impacting events globally. Complimentary 10 hours free analyst time for market review, 3. Economists worried these laws would harm competition, but Moriarty expressed the need to reduce corrupt scalpers and counterfeit tickets. Live Nation Entertainment Reports First Quarter 2022 Results Customers can compare prices, service features, and after-sale service facilities, further boosting adoption. Irving Azoff, Ticketmaster CEO at the time, released an apology and stated that the TicketsNow link would no longer be shown for Springsteen's concerts. Furthermore, the proliferation in technology is transforming the overall industry dynamics. [75], In June 2019, Canada's Competition Bureau fined Ticketmaster $4.5 million dollars ($3.44 million US dollars) as part of a settlement after it was discovered that Ticketmaster "topped advertised costs by more than 20% -- and sometimes as much as 65%." The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. It also noted that its international ticketing business drove growth in fee-bearing tickets and gross transaction value (GTV), led by strong international concerts ticket sales. [13], In September 2006, Ticketmaster President Sean Moriarty told NPR that Ticketmaster had lobbied several states to enact laws that would limit the ticket resale market to authorized companies. [29] In 2009, Ticketmaster released a digital ticketing system that required customers to prove their identity prior to purchase. Ticketmaster has a total of 62 apps, including 31 iOS apps, and 31 Android apps. Berchtold, despite apologizing for the debacle, denied accusations of monopoly and fraud, but accepted that "there are several things we could have done betterincluding staggering the sales over a longer period of time and doing a better job setting fan expectations for getting tickets" and continued to blame "industrial-scale ticket scalping" and "unprecedented number of bots" in Swift's tour debacle. The Ticketmaster Nederland annual revenue was $5 million in 2021. [102][103] Live Nation cited several letters of support within its testimony, including one from American country singer Garth Brooks. The ratio of male-female Ticketmaster users is almost perfectly balanced. Earnings Webcast. [43][44], As of 2016, ticket resale was Ticketmaster's fastest growing business. The online event ticketing market size was valued at USD54.26 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% during the forecast period. Prominent services providers are increasingly developing user-friendly apps for Android and iOS to facilitate hassle-free ticket purchases. Fans Say It's Their Hunger Games", "AOC demands Ticketmaster be dismantled after Taylor Swift ticket sale chaos", "Tennessee AG Investigating Antitrust Violations in Taylor Swift Ticket Presale", "Tennessee, North Carolina AGs Investigating Taylor Swift Ticket Presale", "Justice Department Said to Investigate Ticketmaster's Parent Company", "Taylor Swift slams 'outside entity' over ticket fiasco: 'I'm not going to make excuses for anyone', "Taylor Swift: 'Swifties' sue Ticketmaster over tour sale problems", "Hundreds of Tickets Canceled for Bad Bunny Concert in Mexico", "Final de la gira de Bad Bunny en Mxico opacada por boletaje falso; Ticketmaster ofrece reembolsos", "#AvisoImportante con respecto al concierto de @sanbenito (#BadBunny) en el @EstadioAzteca", "Ticketmaster deber reembolsar y dar 20% extra a fans de Bad Bunny afectados: Profeco", "Ticketmaster gets grilled: 6 takeaways from hearing over Taylor Swift concert fiasco", "Ticketmaster Plans to Blame Scalpers for Taylor Swift Debacle at Senate Hearing", "Taylor Swift concert fiasco leads to US Senate grilling for Ticketmaster", "Ticketmaster apologises for Taylor Swift tour sales fiasco", "DC organization protests against Ticketmaster and Live Nation outside US Capitol", "With Ticketmaster Lawsuit's First Hearing, Swifties Take to the Streets", "Zach Bryan drops surprise album 'All My Homies Hate Ticketmaster,' vows to combat high ticket prices", "Zach Bryan Wants to Burn Ticketmaster to the Ground", "Drake fans are the latest to hit Ticketmaster with a lawsuit following 'It's All A Blur' tour sale", "Ticketmaster facing lawsuit over Drake pricing now, too", "Drake fan files class-action lawsuit against Ticketmaster over inflated "Official Platinum" prices", "Eurovision 2023: Tickets for Liverpool sell out after huge demand", "Eurovision tickets website crashes moments before sale begins", "Eurovision final 2023 tickets sell out in 36 minutes", "Tickets: Eurovision Song Contest Grand Final - Live Show, Liverpool | Sat, 13 May 2023, 20:00 | Ticketmaster UK", "Eurovision tickets reselling for up to 12,000 as fans hunt for ways to attend contest", "Tickets for all 9 shows at this year's Eurovision Song Contest have now SOLD OUT", "Anger as fans say Coronation Concert ballot 'misleading', "Coronation Concert chaos after tickets sell out in minutes angering ballot holders", "Ticketmaster To Use Next-Generation Venue Software For The NFL", "Scottish Comic Beats Taylor Swift, Ed Sheeran in Ticketmaster UK Fan Vote For 'Ticket of the Year', "Ticketmaster Will Once Again Be the Official Ticketing Partner of SMG's UK Venues", "Taylor Swift announces massive 2018 'Reputation' tour", "Exclusive: Trans-Siberian Orchestra announces 20th-anniversary winter tour", "How to Buy Tickets to Broadway's Harry Potter and the Cursed Child Parts One and Two", "NFL, Ticketmaster renew partnership for at least $200M", "Guarding The Gates: NHL Signs Multiyear Extension Of Deal With Ticketmaster", "NBA Renews Ticketmaster Deal for Two Years", "StubHub Inks NFL Deal for Digital Tickets, Ticketmaster Integration", "New Tech Offerings This Year At The US Open", "Rogers Cup goes digital with Ticketmaster", "Wyndham Championship announces deal with Ticketmaster, new tier pricing", Scam Alert: Entertainment Rewards and Ticketmaster Consumerist, Hollywood Casino Amphitheatre (Maryland Heights, Missouri), Hollywood Casino Amphitheatre (Tinley Park, Illinois), TCU Amphitheater at White River State Park, https://en.wikipedia.org/w/index.php?title=Ticketmaster&oldid=1152102324, Entertainment companies based in California, Companies based in Los Angeles County, California, Entertainment companies established in 1976, CS1 Mexican Spanish-language sources (es-mx), Short description is different from Wikidata, Articles tagged with the inline citation overkill template from January 2023, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 28 April 2023, at 06:28. Increasing viewership of sports has consequently boosted online ticket sales for sporting events. Ticketmaster covers numerous events in various industries. In 2022, Ticketmaster has an average Monthly Active User (MAU) of 113.6 million users. [59] Economists characterize the secondary market in tickets as socially wasteful rent-seeking. Ticketmaster Revenue and Growth Statistics (2023) | SignHouse Rigorous promotion and advertising activities undertaken by online ticketing services play a pivotal role in increasing the sale of tickets through their channels. The cookies is used to store the user consent for the cookies in the category "Necessary". Risk Factors" of the company's most recent Annual Report filed on Form . Free upgrade to enterprise license (allows to share across all company locations), 5. Live Nation Entertainment Reports Fourth Quarter & Full Year 2021 Clients control their events and set ticket prices, and Ticketmaster sells tickets that the clients make available to them. [32], The company reported nearly 500 million tickets sold for 400,000 events in 2018. YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data. Live Nation reports revenue growth in 2019 to $11.5bn [94], In December, a group of Swift's fans, called "Swifties," filed a lawsuit against Ticketmaster and its parent company Live Nation, accusing them of fraud, anti-trust violations, and price-fixing. Our support available to help you 24 hours a day, five days a week. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Income Statement :: Live Nation Entertainment (LYV) A large media company with 6,678 employees and an annual revenue of $16.7B, Ticketmaster is headquartered in West Hollywood, CA. [114] Following this, tickets were available on third-party resale platforms such as Viagogo, with a general admission standing ticket for the final, originally priced at 380, being sold for up to 11,800. Event organizers across the globe are forming new ways to offer exclusive passes for catching attention of audiences growing appetite for customization. In addition to the required payment, Ticketmaster signed a consent agreement to ensure its advertising policies abide by Canadian law. The first valuation was in 2009, at just under $1 billion. Wimbledon raises ticket prices for 2023 championships, See Tickets, Vivendi suffer reported data breach, Exit Festival links up with NFT-TiX as part of multi-year collaboration, Ticketmaster faces class action lawsuit over Drake tickets, Rammstein obtains restraining order against Viagogo, Ziggo Dome extends NFT ticketing plans with GUTS Tickets, President Biden calls for limits on concert and sporting ticket fees, US groups form Break Up Ticketmaster coalition, Lyte to acquire Event Genius assets as parent company Festicket set to fall into administration, Silver Lake looking into TEG exit options report, OVG to submit plans for UKs biggest arena, ICC Womens T20 World Cup opens with a bang, Fortuna calls on sponsors to support free fan entry to all home games, Tottenham players to refund fans after Newcastle thrashing, SeatGeek files confidential IPO paperwork, Festival attendees file Live Nation lawsuit following crowd surge, Haunted houses producing magic sales figures, Englands rugby league team partners Sportsbreaks, Ticketmaster Sport rolls out away ticketing digital solution, Electric Group renews with TM as Newcastle NX opens, Womens Rugby World Cup opens with Eden Park sell-out, Scottish Rugby embraces digital ticketing service with Tixserve, Backstage: Ed Sheeran, Depeche Mode and more. Ticketmaster may also be known as or be related to Ticketmaster, Ticketmaster Corporation, Ticketmaster Entertainment Inc and Ticketmaster Entertainment LLC. Their stock opened with $14.50 in its Nov 19, 1996 IPO. Copyright 2023 Xperiology. Ticketmaster is registered under the ticker NASDAQ:TKTM . Looking at 2020, I am confident in Ticketmasters ability to extend that leadership position globally as we add more customers, ticket more events and expand our digital ticketing footprint.. Investor Relations :: Live Nation Entertainment (LYV) "[90] Following investigations initiated by the Tennessee Attorney General[91] and the North Carolina Attorney General on the grounds of consumer rights violations,[92] the federal Department of Justice began an investigation into Live Nation Entertainment and Ticketmaster on November 18. Funding $2.7M Acquisitions 5 News Latest News Dec 14, 2022 Pressbee The top traffic source to ticketmaster.com is direct traffic, driving 37.49% of desktop visits last month, and search is the 2nd with 31.75% of traffic. Sony Music Posts $10B in Annual Revenue as Profits Jump 25% There are Ticketmaster locations in Stoke-On-Trent, Manchester, Glasgow, and London.Ticketmaster sells tickets to approximately 70,000 events annually.
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