Ticket Industry News
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.
Illinois senator and presidential candidate Barack Obama and his campaign have had a tough past few days. CNN today released its average of national surveys showing the Republican candidate John McCain has chipped into Obama's lead trailing now by only one percentage point. To make matters worse, CBS4 out of Denver reported that his campaign was soliciting Democratic Party supporters to buy tickets to the senator's August 28 acceptance speech at Invesco Field, tickets which were free to the public. (See video below)
According to the report, people were directed to an unpublicized part of Obama's official Web site in order to purchase tickets for $1,000 apiece.
Entrepreneurial and small business magazine Inc. has named Ticket Software LLC, parent company of TicketNetwork, to its prestigious "Inc. 5000" list of innovative and fast-growing companies for 2008. Ticket Software was ranked 27th overall based on Gross Dollars of Growth, and third of leading software companies.
The company, founded in 2002, sells Point-of-Sale 8.0 software, one of the leading software products for ticket brokers, operates a marketplace exchange with an inventory of more than 5 million tickets worth more than $1 billion, and operates more than 3,000 Web sites that sell tickets. It has grown at a staggering rate of 4,737.3 percent to generate annual revenues of $83.8 million. In six years, the company has grown from a handful of employees to more than 160, and it occupies a 40-acre campus in upstate Connecticut.
The closing ceremony for the 2008 Olympic Games are just around the corner on Sunday, August 24, and some travelers are still trying to nab last-minute tickets for the competitions. But with recent crackdowns on ticket reselling, potential buyers may have trouble tracking down legitimate tickets and safe options for buying them.
Days before the games began, scam sites like beijingticketing.com and beijing-tickets2008.com were charged with making more than $50 million in fraudulent ticket sales. According to published reports, Chinese officials arrested 276 scalping suspects and confiscated more than 600 tickets within the last five days. Convicted scalpers could face upwards of 10 days in a Chinese detention facility -- a penalty that many brokers are avoiding by staying out of Beijing.
A California woman who ordered two tickets to a Jersey Boys performance from an online broker late last year not only never received her tickets but has yet to receive a refund. But her persistence is a lesson in how fans should handle customer service lapses, as she told TicketNews this week.
Tracy Taylor of Ventura ordered two tickets to the popular show in November, 2007, from Chicago, IL-based ticket broker TicketSpecialists.com, paying a total of $544 for them. The purchase was a Christmas gift for her parents, and the costs broke down as $230 a piece for the tickets, $69 in obtaining fees and $15 in two-day delivery charges. The show was scheduled for August 5, 2008, at the Ahmanson Theatre in Los Angeles, and the seats were located in the Mezzanine in Row L.
Seldom do you hear good news about a story of a ticket buyer who was scammed out of tickets and money. Most of the time, that buyer usually contacts his state legislator or calls an attorney. For a consumer who went by the name of "J.B.", all he wanted was his tickets.
"We ordered tickets for two home New York Yankees games Aug. 15 and 16 from StubHub (an online ticket broker) and sent out our payment," he said in a letter written to the 'Action Line' at the South Bend Tribune. "And it turns out it was all fraud."
He went on to explain that he was scammed out of tickets by someone posing as StubHub, using their copyrighted information. The Tribune contacted the secondary ticket company, to see what could be done to help.
"RazorGator.com Half-Price Summer Seller Sale has been Extended, Slashing Fees for Selling Tickets"
Los Angeles, CA (RazorGator) August 19, 2008 – RazorGator.com announced it will extend the Half-Price Summer Seller Sale and continue to slash commission fees through August 27, 2008.
As the leader in Hard-To-Getsm tickets for sports, entertainment and theatre events worldwide, RazorGator kicked off the industry first ‘Seller Sale’ on August 7, 2008, in conjunction with the launch of its’ new and improved Fan2Fan Ticket Exchange. Due to the favorable response from valued sellers, RazorGator will continue to offer commission fees of only 7.5% for all tickets sold, as long as they are listed during the sale period. Customers listing tickets on RazorGator will continue to earn more money on each ticket sold than on any competitor’s websites.
The City of Denver, which currently prohibits the resale of event tickets, is considering changing its anti-scalping law to allow for an unfettered market which would, according to the legislator pushing for the change, even the playing field between fans and ticket brokers.
While the State of Colorado allows for ticket resale, Denver does not based on Chapter 7, Article XII, 7-291-294 of the city's ordinances. But, as many municipalities and jurisdictions have found out, trying to enforce anti-scalping laws in the Internet Age is, at best, extremely difficult.
The online live music database JamBase, a Web site dedicated to connecting music fans with accurate and up-to-date concert information, will now be helping fans find tickets to see their favorite bands.
An extremely popular stop for live music fans, JamBase has been evolving since its inception ten years ago, continually adding new content to its Web site. Assisting music junkies find tickets to events will be the latest addition to a site that already includes news, artist interviews as well as album and live show reviews.
The lawsuit filed over the last-minute cancellation of an Aerosmith concert in Maui can move ahead as a class action case, according to the Second Circuit Court in Hawaii.
Attorney Brandee Faria, who is representing the concertgoers who were denied a chance to see the band, told TicketNews that the court agreed with her assessment that "it would be best for all 8700-plus class members' claims to be resolved in one lawsuit, thus it means that this case will either be resolved by trial or settlement with compensation for all 8700-plus class members."