This is an essential cookie for the website live chat box to function properly. 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. Over 20,000 tickets may be processed in real-time per minute across all of our sales platforms thanks to the Ticketmaster system. Ticketmaster Entertainment, Inc. is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world. Compared with the previous year, the company reported a Turnover decrease of -162.25%, which is an equivalent of 12.6 million. It looks a bit crazy, doesn't it? Furthermore, the proliferation in technology is transforming the overall industry dynamics. [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. All rights reserved. [46], In May 1994, the grunge band Pearl Jam filed a complaint with the U.S. Department of Justice claiming Ticketmaster had cut the group out of venue bookings in a dispute over fees. 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). Customers can compare prices, service features, and after-sale service facilities, further boosting adoption. [96] Because of this, Ticketmaster received a great amount of criticism because many of the attendees who were denied entry were accused of having counterfeit or cloned tickets, even though those attendees presented proof of payment or their ticket had not even been previously scanned. The witnesses prosecuting Ticketmaster included Jerry Mickelson, the president of JAM Creative Productions; and Jack Groetzinger, co-founder of SeatGeek. Tickets are sold through Ticketmaster at a rate of roughly 18 times per second, with a face value of $202 on average. Ticketmaster is the world's largest ticket marketplace and the global market leader in live event ticketing products and services. Ticketmaster annual revenue for 2021 was $6.3B, a 236.8% growth from 2020. 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. 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. Ticketmaster is a company selling tickets to various events all round the world. (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. You also have the option to opt-out of these cookies. She concluded that she is taking the necessary measures to resolve the issue and resume the sale. For instance, they offer food at highly discounted prices at the event locations in a bid to remain competitive. 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. [88] Several US lawmakers took notice of the issue. Earnings Webcast. Increasing viewership of sports has consequently boosted online ticket sales for sporting events. Ticketmaster, which is owned by the entertainment giant, has seen operating income rise by 15% and AOI by 11%. This has elevated the demand for online ticketing in the country. [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. 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. 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. 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? Ticketmaster's peak quarterly revenue was $6.2B in 2022(q3). This cookie is set by GDPR Cookie Consent plugin. As of February 2023, the company's market cap has grown to $18.23 billion; a 16% increase in just two months. Ticketmaster has a revenue model that makes money in just one way; by collecting a percentage of all tickets sold on their platform. After two rounds of ticket balloting remaining spare tickets were sent out to people who originally put their name down. US congresswoman Alexandria Ocasio-Cortez tweeted that Ticketmaster is a monopoly and that it must be unmerged from Live Nation Entertainment. [47] The investigation was closed without action in 1995, though the Justice Department stated it would continue to monitor the developments in the ticket industry. Find out why thousands of people are moving to SignHouse for their digital signatures! [106] He went on to release a live album, entitled All My Homies Hate Ticketmaster. Cloned and invalid tickets in Bad Bunny concert. Rigorous promotion and advertising activities undertaken by online ticketing services play a pivotal role in increasing the sale of tickets through their channels. [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. 100%-off invitations to access paid products for $0, value-packed emails + more. No purchase commitment. Avail customized purchase options to meet your exact research needs. The band said they were protesting Ticketmaster's ticket fees, while Ticketmaster argued that the band was taking revenue from venues and promoters. The cookie is used to store the user consent for the cookies in the category "Performance". Global Online Event Ticketing Market Size Report, 2025. Mobile booking is perceived as a simpler task compared to traditional online booking via computers. Ticketmaster has emerged as the most profitable ticket distribution company. Ltd.; Cinemark Holdings Inc.; Cineplex Inc.; Kyazoonga; Fandango; Inox Leisure Ltd.; MovieTickets.Com; EasyMovies; Mtime; RazorGator; StubHub; Ticketmaster Entertainment; Ticket, please. [43][44], As of 2016, ticket resale was Ticketmaster's fastest growing business. Use this image Source: Zippia, Economic Liberties Ticketmaster Market Capitalization [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. [27] In 2018, Ticketmaster acquired UPGRADED, a company which converts physical tickets into digital ones, utilising blockchain. [12] In 2003, IAC repurchased the remaining Ticketmaster stock that it had previously sold off. Hubbard has never run a global business with 3,000 employees, 11,000 clients, and $1.2 billion in annual revenue. 29% of Ticketmaster employees are Hispanic or Latino. They also offered refunds for the full cost of the tickets. [112] Prior to the ticket booking platform going live, many users complained that the Ticketmaster website had crashed with a 500 error. Their most recent acquisition was ThaiTicketMajor on Jul 21, 2022. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. A large media company with 6,678 employees and an annual revenue of $16.7B, Ticketmaster is headquartered in West Hollywood, CA. Ticketmaster's clients include venues, artists and promoters. [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. Ticketmaster Delivers Another Record Quarter - AOI Up 86%, Transacted GTV Up 76% . Complimentary 10 hours free analyst time for market review, 3. Supplemental Operational and Financial Information, First Quarter 2023 Live Nation Entertainment Earnings Conference Call. This cookie is used to recognize the visitors using live chat at different times inorder to optimize the chat-box functionality. 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. Ticketmaster's market capitalization has significantly grown since December 2022, when it was valued at $15.74 billion. The new trend is adopted by event organizers for providing convenience and premium experiences to customers. Ticketmaster employees are most likely to be members of the democratic party. Ticketmaster is registered under the ticker NASDAQ:TKTM . 100%-off invitations: access paid products for $0, Statistics &Research for Tech Companies, Ticketmaster Revenue and Growth Statistics (2023). [45], In 2022, Ticketmaster was experimenting with a demand-based, dynamic pricing which would vary the ticket price based upon demand. 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. Electronic signature software built specifically for you. Annual return made up to 13 November 2015 with full list of shareholders Statement of capital on 2015-11-23 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. [33], In November 2020, Ticketmaster announced it will check the COVID-19 vaccination status of ticket buyers before issuing passes when live events return in 2021. However, it does not generate profit the way many people believe! Thousands of email sent out to people stating "Congratulations, you have been successful in the ballot for a pair of standing tickets". The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. Ticketmaster has 6,678 employees, and the revenue per employee ratio is $2,497,941. Copyright 2023 Xperiology. Live Nation Entertainment annual revenue for 2021 was $6.268B, a 236.8% increase from 2020. Rosen drove investment into the company and led the switch to computerized ticketing. Engaging audiences through Reddit may reveal new opportunities. (100% free). [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. Free business intelligence platform with subscription, 4.

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