Ticketmaster
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| Subsidiary | |
| Industry | Live Entertainment |
| Founded | 1976 Arizona, U.S. |
| Founder | Albert Leffler Peter Gadwa Jerry Nelson |
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Key people
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Michael Rapino (CEO) Jared Smith (President of Ticketmaster North America) Mark Yovich (President of Ticketmaster International) Kip Levin (Executive VP of Product) Jody Mulkey (CTO) |
| Products | Ticketing technology, Ticket Sales, Ticket Resales, Marketing, Distribution of event tickets and information, support of venue renovation |
| Revenue | Sold 142 million+ tickets valued at $8 billion in 2007 |
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Number of employees
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6,678 |
| Parent |
Live Nation Entertainment (2010–present) |
| Subsidiaries | Paciolan |
| Website | www.ticketmaster.com |
Ticketmaster Entertainment, Inc. is an American ticket sales (primary ticket outlet) and distribution company based in West Hollywood, California, with operations in many countries around the world. In 2010 it merged with Live Nation (events promoter) to become Live Nation Entertainment. As a primary ticket outlet, most US ticket sales for US venues are fulfilled at Ticketmaster's two main fulfillment centers located in Charleston, West Virginia, and Pharr, Texas. Typically, Ticketmaster's clients (promoters) control their events, and Ticketmaster acts as an agent, selling the tickets that the clients make available to them.
On 10 January 2008, Ticketmaster completed the acquisition of Paciolan Inc., a developer of ticketing system applications and hosted ticketing systems, after litigation over the potential breach of antitrust laws. Ticketmaster sold Paciolan to Comcast-Spectacor in 2010. In January 2009, Ticketmaster acquired a UK ticket exchange site, Getmein.com. Getmein is a ticket exchange site that allows sellers to list the tickets at whatever price they choose.
On 10 February 2009, Ticketmaster and Live Nation, the largest concert promoter, officially announced their merger deal. After almost a year of review, the two companies merged on 25 January 2010, under the name Live Nation Entertainment (: LYV).
Much of the price for a ticket advertised by Ticketmaster is earmarked for its own service fees. Some consumers find these markups excessive, because there are many instances where no alternative purchase method is offered that would allow avoidance of the fees. This business practice, along with a dearth of competitors, has led many to view Ticketmaster as monopolistic. Alternative ticketing companies have emerged, but, due to Ticketmaster's exclusive agreements with a large percentage of venues, the company does not need to lower service fees. In some instances customers may be able to buy tickets directly from the venue, which may add its own service charges.
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