Ticket Industry News
For the first time in its six-year history, TicketNetwork's ticket inventory has surpassed the $1 billion mark, and approaches a total of almost $1.3 billion, the company announced today.
The company's ticket exchange software product is used by thousands of brokers around the world who buy and sell tickets in real-time via TicketNetwork's brokers, partners, customers and subsidiaries.
Despite a series of moves designed to grow the company and shore up its core entertainment business, Tix Corp. has seen its stock price plummet to less than 50 percent of what it was about a year ago, as the company struggles to acclimate its various parts.
Even before Monday's mad sell off of stocks on Wall Street, Tix Corp. was finding itself in a tough spot. On September 11, 2007, the company's stock, which currently trades on Nasdaq under the symbol TIXC, closed at $7 per share. As of yesterday, September 15, 2008, the stock closed trading at $2.75, well under half the value a year ago. Tix Corp.'s stock opened at $2.60 today, and over the past year it was trading in the $7 range. (See table below)
For ticket brokers part of being in the ticket resale business is tracking and finding ticket drops, or when previously unavailable tickets become available from the primary seller. Ticket Drop Checker is the newest tool to help brokers find these ticket drops, and help increase their bottom line.
Launched in mid-August, the site allows for users to monitor between 25 to 500 different events, with subscription prices ranging from $79.95 to $1,095.95 per month. Tony Buonopane, president of Ticket Drop Checker, told TicketNews that he created the site because there were not enough dependable ticket drop tools on the market.
TicketNews has released its exclusive venues rankings for the week ending Sunday, September 14, and Madison Square Garden (MSG) arrives in the number one slot this week. Boosted by sales for top performers like Tina Turner, AC/DC and Madonna, MSG is at the head of the class with a power score of 3.90. Texas Stadium drops from number one last week to number two with a power score of 2.74, as Dallas Cowboys fans keep their team atop the TicketNews’ Top Sports Events rankings for the second straight week. Giants Stadium, the second football venue in this week’s top three sites, comes in at number three this week, power scoring a 2.41. The stadium is enjoying robust ticket sales for both of its home teams, the New York Jets and New York Giants.
The Gershwin Theatre pops up two slots to number four this week, as “Wicked” holds tight to number one in Ticketnews’ Top Broadway Events and Top Theater Events rankings. This week, the Gershwin finishes with a power score of 2.26.
Add another name to the list of ticketing executives who are outing promoters as occasional scalpers.
In a recent conversation with bohemian.com writer Gabe Meline, which Meline blogged about, InTicketing.com founder and CEO Stephen Weisz apparently said the music promoters are directly involved in scalping, or reselling, tickets for the artists they represent.
Faced with mounting competition from rival Live Nation, Ticketmaster needs to find ways to improve its relationships with venues and promoters, and also improve the customer experience for ticket buyers, according to a prominent Wall Street analyst who covers the ticketing sector.
In a wide-ranging interview with TicketNews, Scott Devitt, Managing Director, Internet Consumer Services for Stifel, Nicolaus & Company, Inc., outlined several moves the company should make to continue its dominance in the ticket industry, and he also gave some advice to Live Nation on where it should look for growth.
The announcement this week that Live Nation inked a five-year ticketing deal with venue operator giant SMG sent shockwaves through the ticket industry, and had some financial analysts saying that Ticketmaster could be in trouble if it doesn't reassert itself quickly and decisively.
At the end of yesterday, Thursday, September 11, Ticketmaster's shares, which trade under the symbol TKTM, closed at $15.45, down $3.32 from the previous day's close. As of 1pm EST today, shares had fallen further to $14.86. By contrast, Live Nation's stock, which trades under the symbol LYV, closed at $16.90 yesterday, up $1.03 from the previous day. It has since gone down a bit and was trading at $16.57 as of 1pm.
When a fan is looking for tickets to their favorite event, they are almost always looking to find the best price. For ticket sellers, they want to sell their tickets at a fair price in order to make a profit. Zigabid.com offers both buyers and sellers that option, through negotiating.
Launched September 9, the site allows for buyers and sellers to communicate in order to make offers on tickets and find an agreeable price. The company told the Los Angeles Times that they are the only ticket site that allows both parties to bargain on the price.
In a major blow to rival Ticketmaster, Live Nation has signed a ticketing deal with venue operations giant SMG that calls for Live Nation to sell tickets for SMG's North American facilities over five years.
The deal begins in 2009 when Live Nation officially launches its new ticketing operation, and it marks another disappointment for Ticketmaster, which last month lost a lucrative ticketing deal in Germany to Live Nation ticketing partner CTS Eventim. CTS is supplying Live Nation with the backbone for its ticketing operation.
AEG has stepped up its position in San Diego, CA as AEG Facilities, Inc. has entered into a joint venture with Arena Group 2000, L.P. to partner on the management, booking and operations of the San Diego Sports Arena, a city owned, 35-year old facility. The pact calls for the two organizations to partner in the creation of a new entity, which will equally share control and responsibility of the existing operating sublease for the arena which runs thru 2018.
In San Diego, AEG already books Qualcomm Stadium, 4th & B, the San Diego Sports Arena, Valley View Casino and the Poway Center for the Performing Arts (POW!).