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Ticketstreet Aims to Be the StubHub of Japan

Thursday, March 13, 2014   (0 Comments)
Tech in Asia (01/22/14) Wee, Willis

With concert ticket sales climbing in Japan, the Tokyo-based Ticketstreet secondary online ticket marketplace aims to exploit this trend. "Live concert tickets are hard to obtain so people are willing to buy at an extra price," notes Ticketstreet co-founder Kei Nishiyama. "Some folks buy extra tickets to trade." Ticketstreet prioritizes its users' safety and security, requiring them to register using their real identity with an authentic bank account. Ticketstreet also recently unveiled Anshin Plus, a feature that permits users to refund the full amount of the ticket price if the concert is postponed, cancelled, or if the purchased ticket is counterfeit. Ticketstreet reports that 31,000 sellers and 105,000 buyers currently use its platform, generating approximately $1 million worth of transactions a month. For every ticket sold, Ticketstreet takes 8 percent from the seller and if buyers opt for Anshin Plus protection, they would charge an additional 10 percent of the ticket price from the buyer. Nishiyama says the company plans to eventually branch out into China and Southeast Asia, while it also concentrates on consolidating its market share in Japan.

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