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Ticketmaster and the Business of Scalping

Thursday, November 21, 2013   (0 Comments)

Music Business Journal (10/13) Servantes, Dan

Ticketmaster has found a way to harness the secondary ticketing market and compete even more aggressively with StubHub through the TM+ system, which permits the reselling of tickets directly on Ticketmaster's website. Ticketmaster has maintained a 10 percent market share of the secondary market since 2010, while StubHub owns a more than 30 percent share of that market. Ticketmaster began pushing paperless ticketing last year in an attempt to combat StubHub and the secondary ticket market, and the open competition represented by TM+ will likely cause this fight to escalate. TM+ has been used for more than 300 events so far, and it shares certain similarities with StubHub services: they both resell tickets and permit sellers to sell above face value, take a 10 percent cut of the buyer and seller fees from each transaction, and profit from brokers exploiting the primary ticket market. However, tickets cannot be sold for less than face value on TM+, which raises concern among brokers that Ticketmaster will dominate pricing in the live events industry. In addition, Ticketmaster will allow customers to see the price of tickets being resold next to the face value price, and the resale of paperless tickets will be permitted as well.

 

 

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