DTI Management reports that Vivid Seats recently contacted over 80 ticket brokers through emails and phone calls, offering best pricing to those brokers who would abandon DTI’s ticket management platform.
DTI, a ticket inventory management platform and leading supplier of live event tickets to online resale marketplaces, states that the problem began when Vivid Seats demanded they provide a 7% pricing discount. “They are trying to force us and brokers to cave in, or lose access to their platform,” states DTI CEO Curtis Cheng. According to Moody’s Investor Service, Vivid Seats is the third largest online secondary ticket exchange.
DTI, which recently received a $75 million investment from CVC Capital Partners, “does pretty decent business with Vivid, around 18% of their sales. That amounts to more than $9 million a month,” states Cheng. “Even though they may be the third or fourth largest exchange, there are 1800 sites doing the same thing. We will protect and defend ourselves from Vivid’s bullying tactic. But, who is going to protect those smaller brokers?”
TicketNews reached out to Vivid Seats earlier today for comment but has not received a response by press time. We will update readers as this story develops.