Ticketmaster Obtains TicketsNow

By Doug Caverly - Tue, 01/15/2008 - 10:39

eBay's StubHub says "uh-oh"

Late last week, IAC's Ticketmaster completed its acquisition of a software provider called Paciolan. Today, Ticketmaster is on the move again with a $265 million deal to buy TicketsNow.

TicketsNow is a ticket reseller, and in that field, comes in second only to eBay's StubHub; Chief Executive Cheryl Rosner said her company sold $202 million in tickets during 2006. Ticketmaster Obtains TicketsNow

2007 figures remain unavailable, but it looks as if TicketsNow is destined to remain on an upward trend. Ethan Smith reports, "Ticketmaster President and Chief Executive Sean Moriarty said the company plans to share revenue from its new division with clients that own venues or promote events," and that'll certainly be a popular way of handling things among potential customers.

This is a fairly tumultuous time for IAC, however, with a switch at the top level of Ask.com taking place less than a week ago. Looking farther back, a year-long view of IAC's stock is downright depressing, and in the near future, there's the impending five-way split of the corporation.

The TicketsNow acquisition won't be a cure-all, then, yet it should help bring in a few more dollars.

News Tags: Deals, IAC, Ticketmaster, TicketsNow

About the author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.

5 Comments

By Ticket Classifieds (WPN reader) - Sun, 05/17/2009 - 22:28

Ticket Classifieds

TicketMaster truly has a monopoly in the ticket market with the purchase of TicketsNow. With the Bruce Springsteen controversy do we need any more evidence?

By Used Buick Century (WPN reader) - Thu, 04/09/2009 - 06:08

2007 figures remain

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By Tailgate Tickets (WPN reader) - Tue, 05/13/2008 - 20:25

Scalping

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http://www.nypost.com/seven/01212008/news/nationalnews/tix_takeover_scalps_fans_636787.htm

By alex (WPN reader) - Wed, 01/16/2008 - 13:55

Response to Ticketmaster / Ticketsnow merger

Miami based Tickets of America President CEO Michael J Lipman is encouraged by publicly traded companies such as Ebay and IAC’s ability to foresee the opportunities in the billion dollar secondary resell market and believes they will pave the way for future merger and acquisitions. The acquisition of Ticketsnow is a surprising move for Ticketmaster since the majority of tickets posted on Ticketsnow’s website are ticket brokers’ inventory, may of whom will now pull the plug by not listing them anymore as a result of this partnership. Ticketsnow’s business model caters to brokers and the majority of the web hits are from fellow brokers, not from fans listing inventory. Ticketmaster, a dominant primary market ticket seller, actively encourages teams and concert promoters to buy and then sell their tickets on Ticketmaster’s secondary market exchange. As a result of losing several legislative battles in states such as New York and being investigated in states such as Missouri, Ticketmaster’s “Ticketexchange” and “auctions” have failed in the public eye. Ticketmaster must use the Ticketsnow brand name to market premium seats to events such as Hannah Montana to the secondary market which will inflate the prices. The law of supply and demand dictates the price of tickets on the secondary market, consumers reselling their tickets on the Internet are a contributing factor for what the market price is, reputable companies such as www.ticketsofamerica.com , Ebay, and Stubhub encourage fans to buy/sell at market prices which often times causes prices to sell at less than face value. Ticketmaster, Promoters, Sports Teams, and Venue partners often hold back the supply of tickets which artificially inflates the prices by hyping the scarcity of supply and deceiving the public by saying “sold out.” This is not in the best interest of the consumer and prices are never going to be less than face value or at true market price.