ticketmaster annual revenue

"[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. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. Complimentary 10 hours free analyst time for market review, 3. [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%." Live Nation Entertainment annual revenue for 2020 was $1.861B, a 83.88% decline from 2019. Ticketmaster Entertainment, Inc. is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world. We value your investment and offer free customization with every report to fulfil your exact research needs. Earnings Webcast. Furthermore, the hassle-free process of online booking and transaction increases convenience for both consumers and service providers. Stubhub's estimated annual revenue is currently $232.2M per year. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. 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. 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. Thank you! To connect with Ticketmaster employee register on SignalHire. [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. She concluded that she is taking the necessary measures to resolve the issue and resume the sale. [104] Free Britney America, a D.C. organization that was part of the Free Britney movement, protested outside the U.S. Capitol during the hearing "in support of ending Ticketmaster-Live Nation's monopoly over the live event and ticketing industry. On average, employees at Ticketmaster stay with the company for 3.1 years. Use this image Source: Zippia, Economic Liberties Ticketmaster Market Capitalization Engaging audiences through Reddit may reveal new opportunities. Something went wrong while submitting the form. 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. [5][6], In 1982, Fred Rosen was appointed CEO of Ticketmaster and moved the company to Los Angeles to be closer to the live entertainment industry. "[78] The allegations were first reported in 2017 when a former CrowdSurge top executive hired by Ticketmaster hacked into his former employer's database. As of April 2018, the Department of Justice had not released comments on its investigation. You can change your cookie settings at any time. The platform charges a fee on tickets purchased and resold on the platform. YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data. [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. Its first ticketed concert was Electric Light Orchestra, held at the University of New Mexico. [59] Economists characterize the secondary market in tickets as socially wasteful rent-seeking. 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. [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. [11] In May 2000, Ticketmaster Online-CitySearch acquired TicketWeb Inc., a ticket vendor that sold tickets online and over the phone. Ticketmaster.com gets most of its social media traffic from YouTube, followed by Facebook and Twitter (Desktop). [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." This cookie is set by GDPR Cookie Consent plugin. The ratio of male-female Ticketmaster users is almost perfectly balanced. Movies, music concerts, sports events, and stand-up comedy can be considered the backbone of the entertainment industry. Ticketmaster's peak revenue was $16.7B in 2022. 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 is registered under the ticker NASDAQ:TKTM . Ticketmaster Help, "How are ticket prices and fees determined?". [12] In 2003, IAC repurchased the remaining Ticketmaster stock that it had previously sold off. These cookies will be stored in your browser only with your consent. Additionally, select-your-own-seat, print-at-home-tickets and view from seat are some of the enhanced feature offered by the suppliers to enhance customer experience and thus increase their market share. Operating Free Cash Flow Up 3.9x to $1.8 Billion, Adjusted Free Cash Flow Up 94% to $967 Million, Converting 69% of AOI. It added average ticket prices for its amphitheatre and arena shows are up double-digits since 2017, while sales of dynamically-priced Platinum tickets were up 66% for the year across 3,000 shows. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). [28], Ticketmaster sells tickets that its clients make available to them. Clears Ticketmaster-Live Nation Merger", "Despite Multiple Consent Decree Violations, Live Nation Gets Slap on Wrist from DOJ", "Live Nation to Pay $22.3 Million to Settle Class Action Suit Against Ticketmaster", "Ticketmaster Acquires Festival Ticketer Front Gate", "Ticketmaster buys marketing platform to help clubs engage with fans", "Ticketmaster Acquires Blockchain Ticketing Solution UPGRADED", "Ticketmaster tries to cut out scalpers again Business Retail NBCNews.com", "President Obama Signs Anti-Scalping Bill Into Law", "Ticketmaster Says Bot Army Bought 30,000 'Hamilton' Tickets", "Live Nation Posts Another Record Year, Revenue Up 11%", "Ticketmaster To Verify COVID Vaccination Status Of Fans Before Issuing Concert Passes", "Ticketmaster and Servants: Bands Get Cut of Service Fee", "The Economics Of Ticketmaster: Planet Money", "Ticketmaster's new blog: 'We get it -- you don't like service fees', "String Cheese Incident Takes On Ticketmaster", "Hating Ticketmaster long predates the Taylor Swift fiasco", "Ticketmaster's Dark History: A 40-year saga of kickbacks, threats, political maneuvering, and the humiliation of Pearl Jam", "Angry About Tickets? Free upgrade to enterprise license (allows to share across all company locations), 5. [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. Over 2 million tickets were sold on Ticketmaster for Taylor Swift's The Eras Tour, which was the most tickets ever sold for an artist in a single day. Rosen drove investment into the company and led the switch to computerized ticketing. View contact profiles from Ticketmaster Popular Searches Ticketmaster The band said they were protesting Ticketmaster's ticket fees, while Ticketmaster argued that the band was taking revenue from venues and promoters. Vendors are also focusing on providing combination deals to patrons. Thousands of email sent out to people stating "Congratulations, you have been successful in the ballot for a pair of standing tickets". Service providers offer various deals and discounts along with special incentives such as pre-sales and additional discounts. 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. New and enhanced programming alternatives is expected to expand the industrys customer base and increase patronage for exhibitors. Over 20,000 tickets may be processed in real-time per minute across all of our sales platforms thanks to the Ticketmaster system. Ticketmaster employees are most likely to be members of the democratic party. At the same time, the Gross-Profit went down by . This cookie is set by GDPR Cookie Consent plugin. The introduction of RFID tags built in to wristbands allow customers for ticketless entry and cashless event purchases. See for yourself. Official Platinum Seats are premium tickets to concerts and other events made available by artists and Event Organizers through Ticketmaster. [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. 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. For all of our events, Ticketmaster collaborates with more than 1,500 affiliate partners to increase ticket sales. The annual revenue of Ticketmaster varies between 1.0B and 5.0B. [29] In 2009, Ticketmaster released a digital ticketing system that required customers to prove their identity prior to purchase. Then, there's Canada with a share of 5.28% of all tickets. After two rounds of ticket balloting remaining spare tickets were sent out to people who originally put their name down. It does not store any personal data. [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. Ticketmaster's revenue growth from 2010 to 2022 is 229.43%. The companies offer various discounts and offers along with special incentives like additional pre-sales discounts. [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. Mobile devices have gained popularity as the preferred device for purchasing tickets, which can be largely attributed to declining prices of Internet packs, coupled with growing penetration of high-speed 3G and 4G connectivity among masses. [113] Tickets for the contest's final sold out in 36 minutes, with the remaining available shows selling out around an hour later. 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. The cookie is used to store the user consent for the cookies in the category "Analytics". The Event Tickets segment is expected to show a revenue . Ticketmaster's clients include venues, artists and promoters. Includes data on revenue, valuation, investments, acquisitions, number of employees, and more. 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. Ticketmaster is available on Google Chrome (download latest), Microsoft Edge (download latest), and Mozilla Firefox. Tickets are sold through Ticketmaster at a rate of roughly 18 times per second, with a face value of $202 on average. [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. Ticketmaster revenue is $16.7B annually. 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. Ticketmaster is funded by Upfront Ventures. [CDATA[ [16] And finally, in that same January, Ticketmaster acquired TicketsNow, a ticket reseller in the United States, for $265 million. It provides ticketing services for concerts, sports, arts, theatre, family, and other events. However, in 2020 the company. The number of employees ranges from 5.0K to 10K. The procurator of Office of the Federal Prosecutor for the Consumer, described on Twitter that the agency had already requested a report from Ticketmaster Mexico on what happened at the Estadio Azteca and asked affected consumers to formalize their complaints under the terms of the law. 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. Ticket purchases through smartphones and tablets are expected to witness a CAGR of over 7.0% over the course of the forecast period. [83], On November 15, 2022, the first day of pre-sale of tickets to verified fans for the US leg of the Eras Tour (2023) by American singer-songwriter Taylor Swift,[84] Ticketmaster's official website crashed following "historically unprecedented demand with millions showing up", halting the pre-sale. 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. 2000 San Francisco California San Francisco Bay Area Private Subsidiary of viagogo Entertainment, Inc. Software, Internet & Computer Services Online Marketplace 7372 7373 NAICS listing http://www.stubhub.com/ Est. His tactics have earned him some foes, but even critics admit he has transformed the industry. The new system is touted to give artists a higher share of the revenues that would otherwise be coming through resale ticket sales. The senators questioned Berchtold over Ticketmaster's monopolistic practices, policies, ticket costs, lack of transparency, lack of defense against bots, and insensitivity to music artists. Its headquarters is located at Beverly Hills, California, USA. Customers can compare prices, service features, and after-sale service facilities, further boosting adoption. This cookie is set by GDPR Cookie Consent plugin. [23], In May 2013, Ticketmaster agreed to pay up to $23 million for enrolling customers into a rewards program that charged $9 per month. 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. Ticketmaster has acquired 17 organizations. Furthermore, the proliferation in technology is transforming the overall industry dynamics. [35] Some economists and activist groups have claimed that high ticket prices are due to a lack of competition within the music industry. 2023 Live Nation Worldwide, Inc. All rights reserved. We also use third-party cookies that help us analyze and understand how you use this website. Ticketmaster Delivers Another Record Quarter - AOI Up 86%, Transacted GTV Up 76% . Their stock opened with $14.50 in its Nov 19, 1996 IPO. Ticketmaster annual revenue for 2022 was $16.7B, a 166.11% growth from 2021. They are re-designing their websites and developing mobile applications and enhanced online event ticketing software to offer a user-friendly booking experience. window.__mirage2 = {petok:"OIlyItzY6v9IlPgiuldRvuqrphTBo17ERGcGXSXaXi8-1800-0"}; 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. 29% of Ticketmaster employees are Hispanic or Latino. 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. 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. This goes for all countries in which the website is available. Ticketmaster has over 10 million Android app downloads. [10] That same year, the company merged with CitySearch and was renamed Ticketmaster Online-CitySearch. Since 1995, Ticketmaster has controlled more than 80% of the market for primary tickets to significant concerts. 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. [9][7], In 1998, USA Networks Inc., later named InterActiveCorp (IAC), purchased a majority stake in Ticketmaster. [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. 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. [106] He went on to release a live album, entitled All My Homies Hate Ticketmaster. The growing advancement in data analysis and gathering, and wireless technology is significantly impacting events globally. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. //

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