A change in the Los Angeles Dodgers’ ticketing strategy has landed Houston-based Eventellect the largest secondary ticketing partnership, perhaps in history, according to industry sources. Terms of the deal have not been made public, but a source estimated the deal at close to a nine figure sum, making the partnership by far the most valuable known in the ticketing world, at least in terms of a single team.
The move has reportedly cost an army of ticket brokers their season ticket accounts, as the Dodgers moved to consolidate the secondary market to one provider – one estimate at the total number of tickets cancelled to make way for the partnership at 20,000, though that figure was not commented upon or confirmed by either party.
The deal was first announced in a story by the Sports Business Journal earlier this week (subscription required).
Los Angeles, which plays in the largest home ballpark in the Major Leagues with a capacity of 56,000 fans, made headlines during its run to the World Series last year, with reporters commenting frequently on the large number of broker-held seats at the venue, and how much revenue was going to those brokers as third parties.
The Dodgers-Eventellect deal follows a 2017 World Series that former Ticketmaster Chief Executive Nathan Hubbard called “probably the most lucrative event for ticket brokers ever.” A potent combination of Dodger Stadium’s large capacity and strong fan interest on ticket resale markets generated an estimated $15 million in profit to brokers for each World Series game in Los Angeles, money that didn’t make its way back to the Dodgers. During the World Series, Dodgers executives said they planned to review during the offseason how they engaged with ticket brokers.
After that review, the team elected raise its season ticket prices, and then partner with Eventellect, which will presumably control the lions’ share of those seats once held by numerous smaller operators. The SBJ story cited industry estimates of a third of the season-ticket base of more than 35,000 being previously held by brokers, which falls short of the 20,000 number TicketNews heard, but is certainly a significant number.
“We’re very excited about our relationship with the Dodgers as more teams look to transform their ticketing business,” Patrick Ryan, Eventellect co-founder told SBJ.
We’ll follow up with further details on this deal and what it means for the ticketing ecosystem – particularly in Major League Baseball, where teams have to fill thousands of seats over the span of a grueling 81-date home schedule – once we hear back from the Dodgers and Eventellect officials.
Last Updated on February 15, 2018