Hubbard has never run a global business with 3,000 employees, 11,000 clients, and $1.2 billion in annual revenue. Suppliers across the globe are opting for various measures to stay competitive in the emerging market. Clients control their events and set ticket prices, and Ticketmaster sells tickets that the clients make available to them. Ticketmaster has acquired 17 organizations. Ticketmaster is available on Google Chrome (download latest), Microsoft Edge (download latest), and Mozilla Firefox. 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. This website uses cookies to improve your experience while you navigate through the website. Ticketmaster: Contact Details and Business Profile The rapid adoption of smartphones and tablets in countries such as Qatar, Turkey, and UAE is anticipated to drive market growth. Sony Music Posts $10B in Annual Revenue as Profits Jump 25% Live Nation Entertainment Revenue 2010-2022 | LYV | MacroTrends PDF. In 2010, it merged with Live Nation under the name Live Nation Entertainment.[2]. Over here, at SignHouse, we're producing more of what you just read. ", In June 2018, Ticketmaster notified 40,000 U.K. customers that it had identified a hack caused by malicious software on a third-party customer support product it contracted. Zippia gives an in-depth look into the details of Ticketmaster, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Ticketmaster. 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. Addition or alteration to country, regional, and segment scope. [82] Smith priced tickets for the Cure's concerts for as low as $20, but Ticketmaster charged fees that equalled more than the price of the base ticket. Find out why thousands of people are moving to SignHouse for their digital signatures! "[63] One month later, a group of customers filed a class action lawsuit against Ticketmaster. Ticketmaster's peak revenue was $16.7B in 2022. The average employee at Ticketmaster makes $36,195 per year. 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. Live Nation Entertainment annual revenue for 2020 was $1.861B, a 83.88% decline from 2019. There is intense competition among online ticket providers to secure the rights for selling these tickets from concerned parent bodies. We use some essential cookies to make our services work. "[54] That same year, musician Bruce Springsteen complained of a conflict of interest between Ticketmaster and TicketsNow after fans were directed to TicketsNow once tickets to his concert sold out on Ticketmaster.com. TICKETMASTER UK LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity . Complimentary 10 hours free analyst time for market review, 3. Ticketmaster revenue is $16.7B annually. Ticketmaster is funded by Upfront Ventures. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. 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.. Booking for an event overseas in different countries uses different sites. Its first ticketed concert was Electric Light Orchestra, held at the University of New Mexico. Official Platinum Seats are premium tickets to concerts and other events made available by artists and Event Organizers through Ticketmaster. . Ticketmaster.com's four pages are typically seen by visitors during each visit. The table above shows us once again how Ticketmaster's users are mostly in the United States and Canada. Get documents signed as fast (and simple) as possible. 9% of Ticketmaster employees are Black or African American. Free trial, before you make a purchase decision. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. Anonymous cookie used to facilitate the 'PixelYourSite' plugin which manages our analytical services. They also offered refunds for the full cost of the tickets. [48][49] Chuck Philips, a reporter who covered the issue,[50][51][52][53] was told by sources close to the case that the investigation was closed due to a combination of a shortage of resources and the case being difficult and having uncertain prospects. Ticketmaster is a California-based ticket marketplace that allows individuals to buy and sell tickets for concerts, sports, theater and family events. Annual Revenue $1.0-5.0B Agree? The Asia Pacific region is expected to witness significant growth over the forecast period, due to increasing penetration of internet and smart devices. 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. Ticketmaster Company Profile - Office Locations, Competitors Event organizers across the globe are forming new ways to offer exclusive passes for catching attention of audiences growing appetite for customization. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. [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. Ticketmaster also owns and operates TicketWeb, a ticketing website geared towards independent venues. This is an essential cookie for the website live chat box to function properly. Ticketmaster Delivers Another Record Quarter - AOI Up 86%, Transacted GTV Up 76% . Everybody starts on a free plan, and you can stick to it forever. [118][119] The email also said "You will have until 12:00 on 27th April to claim your tickets. Explore purchase options. //]]>. Then, there's Canada with a share of 5.28% of all tickets. This has elevated the demand for online ticketing in the country. [26] In 2017, TicketWeb, Ticketmaster's self-service ticketing platform, acquired Strobe Labs, a marketing platform that allows users to market to fans through social media. Ticketmaster employees are most likely to be members of the democratic party. [122][128], Ticketmaster has been the ticketing provider for the National Football League (NFL), National Hockey League (NHL) and the National Basketball Association (NBA). [109][110] The suit seeks $300 in punitive damages per customer and compensatory damages covering the difference between the "Official Platinum" ticket prices and the regular cost for the seats. 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. 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. [36][42], In 2013, the jam band The String Cheese Incident gave fans money to purchase 400 tickets to one of its shows in order to resell them on its own site with fewer fees. The company believed this would help circumvent brokers and scalpers. [55][56] In 2018, the United States Department of Justice began reviewing complaints by AEG that claimed the company had engaged in anti-competitive practices. [35] In addition to the face value price, venues and Ticketmaster add fees to pay for their services. [32], The company reported nearly 500 million tickets sold for 400,000 events in 2018. Additionally, offering seating preference to viewers, providing mobile tickets in the form of a barcode, and portraying a view of the screen/stage/ground from viewers preferred seat are some of the features offered to enhance customer experience and their position in the market. Live Nation Entertainment annual revenue for 2021 was $6.268B, a 236.8% increase from 2020. Their most recent investment was on Sep 12, 2008, when Active Network raised $92.3M. Copyright 2023 Xperiology. RFID tags are useful in multi day events, it includes customer information which is displayed at the time of security check. 1.12 million customers were eligible to claim up to a $30 refund. [61], In September 2018, the Toronto Star reported that Ticketmaster was not enforcing ticket limit rules on its resale platform, TradeDesk. [62] Ticketmaster denied the allegations, saying it would examine its resale policies on TradeDesk, and that it "never allows ticket scalpers to buy tickets ahead of fans. 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. Economists worried these laws would harm competition, but Moriarty expressed the need to reduce corrupt scalpers and counterfeit tickets. For the purpose of this study, Grand View Research has segmented the global online event ticketing market report on the basis of platform, event type, and region: Platform Outlook (USD Million, 2014 - 2025), Event Type Outlook (USD Million, 2014 - 2025), Regional Outlook (USD Million, 2014 - 2025). North American . 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. [60][61] In the mid-2000s, Ticketmaster engaged in primary market auctions that reduced the rents involved in secondary market scalping however, Ticketmaster ended these primary market auctions, opting instead to enter into the secondary market. Michael Rapino, president and chief executive of Live Nation, said: Ticketmaster continues to lead the ticketing industry, both operationally and in digital ticketing. Key companies in the industry are forming partnerships with financial institutions, such as digital wallet service providers and banks, for providing additional offers to customers, thereby leading to increased traffic and financial transactions on websites. It provides ticketing services for concerts, sports, arts, theatre, family, and other events. Rigorous promotion and advertising activities undertaken by online ticketing services play a pivotal role in increasing the sale of tickets through their channels. (100% free). In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. Operating Free Cash Flow Up 3.9x to $1.8 Billion, Adjusted Free Cash Flow Up 94% to $967 Million, Converting 69% of AOI. Launched in 2013, TheTicketingBusinessNews is owned and delivered by Xperiology the UK-based events, publishing and marketing agency dedicated to sports, arts and entertainment. Organizers are adding new categories to their events for attracting more customers. However, in 2020 the company. On average, employees at Ticketmaster stay with the company for 3.1 years. Ch Daniel is the co-founder of SignHouse and chairman of the CHGroup. StubHub's Competitors, Revenue, Number of Employees, Funding - Owler window.__mirage2 = {petok:"OIlyItzY6v9IlPgiuldRvuqrphTBo17ERGcGXSXaXi8-1800-0"}; [7][8], In November 1993, Microsoft co-founder Paul Allen acquired an 80% stake for more than $325 million. [17], IAC spun off Ticketmaster as its own company in the summer of 2008. Revenue Up 44% to $16.7 Billion 125% Operating Income Up 125% to $732 Million 49% AOI Up 49% to Over $1.4 Billion $1.8B Operating Free Cash Flow Up 3.9x to $1.8 Billion $967M Adjusted Free Cash Flow Up 94% to $967 Million, Converting 69% of AOI *Compared to 2019 For complete information regarding our financials, see our periodic filings Ticketmaster Entertainment, Inc. Audited Consolidated Financial - SEC [16] And finally, in that same January, Ticketmaster acquired TicketsNow, a ticket reseller in the United States, for $265 million. Ticketmaster is subject to numerous controversies and lawsuits, alleging violations of various laws. [102][103] Live Nation cited several letters of support within its testimony, including one from American country singer Garth Brooks. [41], Fee amounts vary between events and are dependent on the venue, available delivery methods, and preferences of the artist. [113] Tickets for the contest's final sold out in 36 minutes, with the remaining available shows selling out around an hour later. [85] In less than an hour of availability, the ticketing platform's servers were "unable to answer", with users "either completely logged out or in a queue 2,000-plus people strong that appeared frozen." [48], In a 2009 article by the CBC, Ticketmaster argued that legislation was needed in Ontario to protect fans from scalpers and unauthorized ticket brokers saying, "You and I both know there is a thriving ticket-broker industry so the law is really a fiction We very strongly feel the law needs to be modernized to reflect the reality of internet commerce. In 2022, Ticketmaster reported an incredible success, with revenue of $12.3 billion - a staggering increase from the $6.3 billion reported in 2021. It does not store any personal data. Thousands of email sent out to people stating "Congratulations, you have been successful in the ballot for a pair of standing tickets". Key events covered under the scope of the online event ticketing market include movies, sports, music concerts, stand-up comedy shows, theater, dance, and opera shows. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 3.59%, resulting in a projected market volume of US$82.61bn by 2027. The increasing trend of using the Internet for bookings and reservations is expected to significantly bolster the market. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. [97] Due to the criticism, Ticketmaster Mexico released a statement through their social networks apologizing and saying that "the inconveniences in the accesses were a consequence of the presentation of an unprecedented number of fake tickets, which caused an out of the ordinary agglomeration of people and an intermittent operation of our system". You can see that with each new investment, there has been more money rasied at Ticketmaster. [107][108], In March 2023, fans of Canadian rapper Drake also filed a class action lawsuit against Ticketmaster in the Superior Court of Quebec, alleging intentional deception and fraud. However you may visit Settings to provide a controlled consent. Discounted price for multiple reports across domains, 2. Pay at Ticketmaster is significantly lower than some of its highest paying competitors, like Meta, Airbnb, and LinkedIn, which pay $155,739, $145,035, and $135,189, respectively. Ticketmasters Monthly Active Users (MAU) is 113.6 million. 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. Annual Reports :: Live Nation Entertainment (LYV) Ticketmaster Help, "How are ticket prices and fees determined?". The cookie is used to store the user consent for the cookies in the category "Performance". Risk Factors" of the company's most recent Annual Report filed on Form . India is a lucrative market for movie-ticketing service providers as new movie releases result in long queues at theaters for advanced bookings. Get the full ticketmaster.com Analytics and market share drilldown here . "[65] The company acknowledged it has "facilitated the quiet transfer of concert tickets directly into the hands of resellers through the years, though only at the request of the artists involved. Please fill out the form below for a free PDF report sample & Supplemental Operational and Financial Information. 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. Hey! In addition to the required payment, Ticketmaster signed a consent agreement to ensure its advertising policies abide by Canadian law. "[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. ticketmaster.com Market Share, Revenue and Traffic Analytics - Similarweb The cookies is used to store the user consent for the cookies in the category "Necessary". The ratio of male-female Ticketmaster users is almost perfectly balanced. 100%-off invitations: access paid products for $0, Statistics &Research for Tech Companies, Ticketmaster Revenue and Growth Statistics (2023). Terms of Use. [57], In 2020, the Department of Justice fined Ticketmaster $3 million for violating a consent decree resulting from the Live Nation merger. Market Data powered by QuoteMedia. [45], In 2022, Ticketmaster was experimenting with a demand-based, dynamic pricing which would vary the ticket price based upon demand. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. online ticket marketplace where fans can buy and sell tickets to sports, concerts, and Show more Global Rank # 2,592 647 Country Rank # 527 109 United States Category Rank # 5 2 eCommerce & Shopping > Tickets (In United States) Connect this website Total Visits 23.0M Bounce Rate 53.10% Pages per Visit 3.29 Avg Visit Duration 00:02:42 Company [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. Their stock opened with $14.50 in its Nov 19, 1996 IPO. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. Ticketmaster: Rocking The Most Hated Brand In America - Fast Company The acquisition is scheduled to complete in Q3 (subject to customary closing conditions being satisfied). Yes, Ticketmaster is bringing its advanced digital ticketing technology to South Africa, with headquarters in Cape Town. The U.S. is estimated to witness significant growth over the next few years due to the greater presence of the tech-savvy population in the country with growing disposable incomes. You can change your cookie settings at any time. [95], On December 9, 2022, the day of Bad Bunny's first concert of his World's Hottest Tour in Mexico City, an unprecedented number of tickets were cancelled, affecting a considerable group of concertgoers, whose tickets were confiscated and destroyed. Industry eCommerce & Shopping > Tickets. Working At Ticketmaster: Employee Reviews and Culture Ticketmaster's revenue growth from 2010 to 2022 is 229.43%. [36], Typically, fees added to a ticket's face value have included:[37][38][39], As the Los Angeles Times has explained, "the 'service fee' is intentionally kept separate from the list price for two reasons: to make the base price of a ticket appear more affordable, and to create the impression that only Ticketmaster pockets that fee. In 2022, Ticketmaster sold most tickets in the US, with 84.33% of the tickets. 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. The new system is touted to give artists a higher share of the revenues that would otherwise be coming through resale ticket sales. 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. The introduction of RFID tags built in to wristbands allow customers for ticketless entry and cashless event purchases. The fees from ticket sales can account for a large percentage of overall ticket costs and have received scrutiny from regulators, customers, and musicians for its fees. 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. Includes data on revenue, valuation, investments, acquisitions, number of employees, and more. The collapse of record album sales after the year 2000 means that as of the 2020s, 95 percent of artist income comes from concert tours. [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 - Overview, News & Competitors | ZoomInfo.com However, prepaid smart cards are another emerging trend which reduces queue at vendor stands, provides entry, and simplified merchandise transactions. Ticketmaster has had 2 exits. Our support available to help you 24 hours a day, five days a week. Ticketmaster.com receives 115.9 million monthly unique visitors on average. 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. Let's now look at the key data about Ticketmaster Entertainment! [30], In 2016, Ticketmaster released a statement in favor of the Better Online Ticket Sales Act (BOTS Act), which banned the use of ticket bots to buy large amounts of tickets online and resell them at inflated prices. Cloned and invalid tickets in Bad Bunny concert. online dashboard trial. Moreover, Hollywood is a highly-touted entertainment industry in the U.S., due to which there is a higher demand for convenient modes of purchasing tickets. Contact Who is Ticketmaster Headquarters 9348 Civic Center Dr, Beverly Hills, California, 90210, United States Phone Number (310) 867-7000 Website www.ticketmaster.com Revenue $2.4B Industry Retail General Retail Ticketmaster's Social Media Is this data correct? Customers can compare prices, service features, and after-sale service facilities, further boosting adoption. [115][116][117], Ticketmaster was heavily criticised for their handling of the tickets for Coronation Concert of Charles III and Camilla. Replay. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The cookie is used to store the user consent for the cookies in the category "Other. Live Nation has reported revenue growth of 7% to $11.5bn in 2019, with a 10% rise in ticket sales year-on-year to 38 million. By keeping a price cap in place, you're really just driving the [resale] business into the shadows. [98] However, PROFECO ordered that those affected not only be refunded the full cost of the ticket, but an additional 20%. Funding $2.7M Acquisitions 5 News Latest News Dec 14, 2022 Pressbee Congressman Bill Pascrel, who had previously petitioned US Attorney General Merrick Garland in support of "strong antitrust enforcement by the Biden Administration" and criticized the merger of Ticketmaster and Live Nation, stated that he attempted to purchase tickets but was placed on the waitlist. Ticketmaster is the world's largest ticket marketplace and the global market leader in live event ticketing products and services. Use this image Source: Zippia, Economic Liberties Ticketmaster Market Capitalization 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. We value your investment and offer free customization with every report to fulfil your exact research needs.
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