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Seeking to reassure investors following its loss of a major contract in Germany to rival CTS Eventim, Ticketmaster has gone on a public relations blitz to talk up its push into the Chinese ticket market.
Ticketmaster's stock, which trades on the Nasdaq under the symbol TKTM, closed at an even $24 today, August 27, down more than 3 percent, or 77 cents, from Tuesday's closing price. The drop came after news circulated that CTS had landed a lucrative contract with AEG to provide ticketing operations in the burgeoning German market where AEG is set to open a state-of-the-art venue in Berlin called O2 World.
"Female-owned TicketFeeder nominated in outstanding new broker category"
Tempe, AZ (PRWEB) August 27, 2008 - Tammy Thibodeau, founder of Tempe-based TicketFeeder, a new retail outlet for premium event tickets to concerts, sporting events and theater performances, has been recognized by the National Association of Ticket Brokers (NATB) in the "Outstanding New Broker" category. The nominees are required to exhibit the NATB's highest level of ethics in the marketplace, friendship, participation and cooperation to colleagues and to the industry.
TicketFeeder was also recognized in the category of "Outstanding Innovative Website." Qualifications include excellence in interactive design, creativity, usability and functionality on the Internet. TicketFeeder is the only female-owned company recognized at the NATB's annual convention earlier this month. In addition to running TicketFeeder,
In a move that could be considered a slight to one of its business partners, heavyweight promoter AEG recently announced it had chosen to partner with German ticketing giant CTS Eventim, instead of Ticketmaster, for the ticketing operations in several venues in Germany. Among the AEG venues that CTS will have under its ticketing platform include the the new state-of-the-art O2 World in Berlin.
While not necessarily a setback for Ticketmaster, news of the deal could put a crimp in the company's plans to expand its presence in international markets, as outlined a few weeks ago by President and CEO Sean Moriarty.
Fresh on the heels of the company's problems relating to alleged fraud with Olympics tickets, UK-based Xclusive Leisure & Hospitality is now reportedly in further trouble over thousands of unfulfilled orders for tickets to the recent Reading, Leeds and V festivals.
More than 4,300 fans who bought tickets to the popular festivals and the Olympics through the company's Web sites were stiffed, according to BBC News, which has prompted a blizzard of complaints against the company.
TicketNews has released its exclusive venues rankings for the week ending Sunday, August 24. For the ninth week running, Yankee Stadium finished in the number one position in our rankings. With a power score of 3.08, the stadium maintains its lead over all rivals, a lead which has lasted all summer long. As Dallas Cowboys' ticket sales keep the team in the number two slot in TicketNews' Top Sports Events rankings, Texas Stadium moves up one slot to the same number two position this week, continuing its rapid ascent from number six just two weeks ago. The Cowboys' home stadium comes in with a power score of 2.83.
Madison Square Garden (MSG) moves up one spot this week to the number three position, with a power score of 2.68. Robust sales for artists such as Madonna and Celene Dion are driving MSG's upward mobility, and planned renovations to the complex should only make this a more attractive venue for performers and fans alike.
"Morten Lund, investor behind Skype, kickstarts LiveStub.com"
Chicago, IL August 25 - Morten Lund, the Danish investor who helped to propel the VoIP communications service Skype to worldwide success, has turned his sights on the business of reselling tickets by putting his financial muscle behind LiveStub.com, a new web site designed to revolutionize the secondary ticket industry.
When Levi Bergovoy launched LiveStub with Michael Hershfield in January, the duo wanted to simplify the secondary ticket market for both buyers and sellers. Other ticket resale sites tack on additional fees of up to 25 percent that cut into sellers’ profits and raise costs for buyers. LiveStub allows users to post their listings for free, cutting out what Hershfield calls "glorified middlemen."
AEG Live, which already has a considerable presence in the San Diego, CA area, has added another venue to its stable of facilities. The 800-seat, city owned Poway Center for the Performing Arts (POW!) in Poway, CA, near San Diego, and AEG have become partners for the venue’s upcoming season.
Under the partnership, AEG will assist venue’s POW! Foundation in booking performers for its 2008/2009 Professional Performance Series. A September 15 concert with Judy Collins and Leo Kottke kicks off the new partnership. Tickets are priced at $45 and $65.
Despite the secondary ticket market becoming a more popular choice for many people, there are still many others who are afraid to use any of the online ticket reselling Web sites. The independent non-profit organization Consumer Reports released a report on how buyers can find a great tickets online. (See video below)
Many people think that ticket reselling is still an illegal practice, but Consumer Reports is quick to point out that online ticket sites like StubHub, RazorGator and TicketsNow are "quite legitimate."
Live Nation has strengthened its presence in Mexico and Brazil by forming a five-year exclusive distribution deal with CIE (Corporación Interamericana de Entretenimiento SAB de C.V.) and T4F (Time For Fun). Brazil and Mexico are the fifth and 11th most populated countries in the world; CIE is the third largest concert promoter in the world, according to Billboard statistics. CIE holds an investment in Time for Fun, which also promotes in Argentina and Chile, and CIE and T4F collectively operate in more than 25 venues in Latin and South America.
As of 1pm, the stock was trading at $23.55 on volume of more than 2.43 million shares. The stock hovered in the $23 range throughout much of the day, and opened at $20.20. Its high today was $24.50.