[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%." Official Platinum Seats are premium tickets to concerts and other events made available by artists and Event Organizers through Ticketmaster. Ticketmaster's Competitors, Revenue, Number of Employees - Owler [41], Fee amounts vary between events and are dependent on the venue, available delivery methods, and preferences of the artist. 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. Ticketmaster, the global leader in live event ticketing, today announced a part acquisition of Thai Ticket Major (TTM), headquartered in Bangkok, Thailand. The company believed this would help circumvent brokers and scalpers. [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. [27] In 2018, Ticketmaster acquired UPGRADED, a company which converts physical tickets into digital ones, utilising blockchain. The company stated that customers who bought tickets between February and June 2018 may have had data compromised. 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 funded by Upfront Ventures. Investor Relations :: Live Nation Entertainment (LYV) ", "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. Several companies have started using the Internet for cutting marketing costs to stay ahead in a highly competitive market. It looks a bit crazy, doesn't it? [43][44], As of 2016, ticket resale was Ticketmaster's fastest growing business. Ticketmaster's revenue growth from 2010 to 2022 is 229.43%. [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. Live Nation Entertainment - revenue 2022 | Statista Employees 1.0-5.0K Agree? Ticketmaster.com Visitors use the platform for three minutes and 18 seconds on average. Get documents signed as fast (and simple) as possible. Annual return made up to 13 November 2015 with full list of shareholders Statement of capital on 2015-11-23 [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. The company's ticket sales are fulfilled digitally or at its two main fulfillment centers located in Charleston, West Virginia, and Pharr, Texas for both primary and secondary markets. Ticketmaster is the world's largest ticket marketplace and the global market leader in live event ticketing products and services. The table above shows us once again how Ticketmaster's users are mostly in the United States and Canada. Ticketmaster Help, "How are ticket prices and fees determined?". Ticketmaster Delivers Another Record Quarter - AOI Up 86%, Transacted GTV Up 76% . [5] Under Rosen, the company moved into publishing and set up a travel agency and acquired rival Ticketron in 1991, making it the market leader. Copyright 2023 Xperiology. This cookie is set by GDPR Cookie Consent plugin. Anonymous cookie used to facilitate the 'PixelYourSite' plugin which manages our analytical services. Rigorous promotion and advertising activities undertaken by online ticketing services play a pivotal role in increasing the sale of tickets through their channels. Ticketweb, Get Me In!, Seatwave, Ticketmaster Sport, and Universe are additional Ticketmaster businesses that are active in the United Kingdom. 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 average employee at Ticketmaster makes $36,195 per year. Ticketmaster annual revenue for 2021 was $6.3B, a 236.8% growth from 2020. The number of employees ranges from 5.0K to 10K. Thank you! The employee data is based on information from people who have self-reported their past or current employments at Ticketmaster. 100%-off invitations: access paid products for $0, Statistics &Research for Tech Companies, Ticketmaster Revenue and Growth Statistics (2023). 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. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. The platform charges a fee on tickets purchased and resold on the platform. 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.. In 2022, Ticketmaster reported an incredible success, with revenue of $12.3 billion - a staggering increase from the $6.3 billion reported in 2021. Discounted price for multiple reports across domains, 2. Increasing viewership of sports has consequently boosted online ticket sales for sporting events. The Asia Pacific region is expected to witness significant growth over the forecast period, due to increasing penetration of internet and smart devices. Global Online Event Ticketing Market Size Report, 2025. As of April 2018, the Department of Justice had not released comments on its investigation. They also focus on forming tie-ups with banks and mobile wallet providers to lure customers into buying tickets from their portals. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. All rights reserved. [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. 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 [CDATA[ [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." "[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. Furthermore, it includes linked bank account which provide cashless transactions. 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. The movie ticketing segment is also characterized by a high degree of competition among service providers. Its first ticketed concert was Electric Light Orchestra, held at the University of New Mexico. Ticketmaster Revenue: Annual, Quarterly, and Historic - Zippia [20], In February 2009, Ticketmaster entered into an agreement to merge with event promoter Live Nation to form Live Nation Entertainment. Ticketmaster immediately published a statement saying they are working to fix the issues "as the site was unprepared to accommodate the sheer force of hundreds of thousands of Swift fans",[86] and subsequently reported that "hundreds of thousands of tickets" had already been sold and rescheduled the remaining onsales to a different time, including the Capital One onsale to November 16. [118][119] The email also said "You will have until 12:00 on 27th April to claim your tickets. Addition or alteration to country, regional, and segment scope. Various technological advancements have changed the way consumers buy services and products. [18] Later in 2008, Ticketmaster acquired Front Line Management, an artist management firm that worked with artists such as Aerosmith, Christina Aguilera and Jimmy Buffett. Annual Revenue $1.0-5.0B Agree? [132] Ticketmaster has also partnered with the United States Tennis Association,[133] Tennis Canada,[134] and the PGA Tour.[135]. [23] Live Nation CEO Michael Rapino was named CEO of the new company. Ticketmaster - Overview, News & Competitors | ZoomInfo.com Supplemental Operational and Financial Information. The cookie is used to store the user consent for the cookies in the category "Analytics". [35] In addition to the face value price, venues and Ticketmaster add fees to pay for their services. There are Ticketmaster locations in Stoke-On-Trent, Manchester, Glasgow, and London.Ticketmaster sells tickets to approximately 70,000 events annually. Ticketmaster benefits from record month of on-sales YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. 2023 Live Nation Worldwide, Inc. All rights reserved. Ticketmaster is registered under the ticker NASDAQ:TKTM . Ticketmaster Operating Metrics | Craft.co YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. The first valuation was in 2009, at just under $1 billion. If you do not claim your tickets by this date then they will be re-allocated", as a result many people had already booked hotels or the day off work in anticipation that they had already gotten the tickets. None of the information on this page has been provided or approved by Ticketmaster. Economists worried these laws would harm competition, but Moriarty expressed the need to reduce corrupt scalpers and counterfeit tickets. [7] By 1985 the company had operations in the U.S., Canada and Europe. These tickets are equipped with barcodes or QR codes, which are scanned by attendants to ensure authenticity. Thousands of email sent out to people stating "Congratulations, you have been successful in the ballot for a pair of standing tickets". This goes for all countries in which the website is available. [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. We use some essential cookies to make our services work. Ticketmaster has 6,678 employees, and the revenue per employee ratio is $2,497,941. 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. [106] He went on to release a live album, entitled All My Homies Hate Ticketmaster. [93], Swift released a statement on November 18, 2022, via her Instagram story; she asserted that she is protective of her fans and wanted to assure a quality experience for them, but found it difficult to "trust an outside entity with these relationships and loyalties". [76], In December 2020, Ticketmaster "entered into a plea agreement with federal prosecutors" and agreed to pay a $10 million fine after being charged with illegally accessing computer systems of a competitor. The report will account for Covid19 as a key market contributor. She concluded that she is taking the necessary measures to resolve the issue and resume the sale. Income Statement :: Live Nation Entertainment (LYV) After Smith expressed his outrage, Ticketmaster refunded a portion of the fees to the purchasers. Such services save time and are a cost-effective way of buying movie and event tickets. Find out why thousands of people are moving to SignHouse for their digital signatures! For the three months ended March 31, 2022, net cash provided by operating activities was $1.2 billion and free cash flow adjusted was $89.1 million. In a single month, Ticketmaster normally makes close to $1.4B in revenue. Heres the offer: we might start charging for access to this research (it takes 10s of people to produce this), but if you sign up now, youll have access for $0. This continued expansion in Asia . [45], In 2022, Ticketmaster was experimenting with a demand-based, dynamic pricing which would vary the ticket price based upon demand. In 2022, Ticketmaster sold most tickets in the US, with 84.33% of the tickets. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. "[63] One month later, a group of customers filed a class action lawsuit against Ticketmaster. //Live Nation reports revenue growth in 2019 to $11.5bn Avail customized purchase options to meet your exact research needs. [10] That same year, the company merged with CitySearch and was renamed Ticketmaster Online-CitySearch. The band said they were protesting Ticketmaster's ticket fees, while Ticketmaster argued that the band was taking revenue from venues and promoters. RFID tags are useful in multi day events, it includes customer information which is displayed at the time of security check. 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. The witnesses prosecuting Ticketmaster included Jerry Mickelson, the president of JAM Creative Productions; and Jack Groetzinger, co-founder of SeatGeek. Ticketmaster's market capitalization has significantly grown since December 2022, when it was valued at $15.74 billion. Mobile movie ticketing services are expected to emerge as a key revenue-generating segment over the forecast period in North America, due to consumer convenience and accessibility associated with the purchase of movie tickets. HERE'S How Ticketmaster Makes Money [Full Business Model] - Wealthy Byte The company provides tickets through its retail outlets, as well as other retail partners, and online. (100% free). This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. US congresswoman Alexandria Ocasio-Cortez tweeted that Ticketmaster is a monopoly and that it must be unmerged from Live Nation Entertainment. 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. Vendors are also focusing on providing combination deals to patrons. Our support available to help you 24 hours a day, five days a week. Hubbard has never run a global business with 3,000 employees, 11,000 clients, and $1.2 billion in annual revenue. Sony Music Posts $10B in Annual Revenue as Profits Jump 25% [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.com visitors spent an average of 3 minutes, and 18 seconds booking tickets. Earnings Webcast. Ticketmaster's peak quarterly revenue was $6.2B in 2022(q3). The U.S. Senate Judiciary Committee examined the merger with a hearing in January 2023. 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. 1.12 million customers were eligible to claim up to a $30 refund. [29] In 2009, Ticketmaster released a digital ticketing system that required customers to prove their identity prior to purchase. Ticketmaster has over 10 million Android app downloads. 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. Sports events contributed to over 30.0% of the overall online ticket sales in 2016 and the segment is expected to retain its position as a key revenue generator. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Mobile booking is perceived as a simpler task compared to traditional online booking via computers. While offering preferred seating choices to patrons is usually an optional service for providers in the U.S., it is a basic necessity in markets such as India and China. [87], Fans and customers online widely criticized Ticketmaster for a flawed ticketing model that obstructed them from purchasing tickets. Ticketmaster has made 5 investments. Find top employees, contact details and business statistics at RocketReach. Global Online Event Ticketing Market Size Report, 2025 Booking for an event overseas in different countries uses different sites. There is intense competition among online ticket providers to secure the rights for selling these tickets from concerned parent bodies. Ticketmaster also owns and operates TicketWeb, a ticketing website geared towards independent venues. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. 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. [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. [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 company has also faced scrutiny from the United States Department of Justice for retaliation against venues violating its 2010 10-year consent decree from the Live Nation merger, which has been extended an additional five years from 2020 through 2025. Live Nation Entertainment Reports Second Quarter 2019 - Ticketmaster A significantly higher number of theaters and exhibitors have started accepting m-tickets and e-tickets to prevent wastage of paper. 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. Ticketmaster makes $45.7M in a day. [98] However, PROFECO ordered that those affected not only be refunded the full cost of the ticket, but an additional 20%. Event organizers across the globe are forming new ways to offer exclusive passes for catching attention of audiences growing appetite for customization. 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 Social media has positively impacted event marketing and promotions, as customers build communities and pages, and share their experiences worldwide. Ticketmaster.com gets most of its social media traffic from YouTube, followed by Facebook and Twitter (Desktop). Ticketmaster has a revenue model that makes money in just one way; by collecting a percentage of all tickets sold on their platform. Its headquarters is located at Beverly Hills, California, USA. They also offered refunds for the full cost of the tickets. By clicking Accept, you consent to the use of ALL the cookies. Rapino added: The strength of our business is continuing in 2020, with concert tickets sold through mid-February for 2020 shows up 10% to 38 million, and a pipeline of 4,700 confirmed arena, stadium and amphitheatre shows, up 30% from the same time last year. She said that she was "not going to make excuses for anyone because we asked [Ticketmaster], multiple times, if they could handle this kind of demand and we were assured they could." 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. ticketmaster.com is ranked #1 in the eCommerce & Shopping > Tickets category and #317 Globally according to March 2023 data.
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