Live Nation Inc.’s Chief Executive Michael Rapino said that by ending a long-term contract with Ticketmaster, the company will gain additional control over the distribution of tickets to its shows, confirming speculation that the company was moving to form its own ticket selling business.
Rapino added, while speaking at a conference in New York, that the world’s largest concert promoter should also enter the secondary-ticketing business, which is dominated by companies including StubHub and EBay.
“We have zero market share in it,” he said of the secondary ticket sales market. “We should be in that business and the artists want us to be in that business.”
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