Ticketmaster announced it is acquiring part of Thai Ticket Major (TTM) in a transaction expected to close in the third quarter of 2022. The deal comes close on the heels of Ticketmaster’s parent company Live Nation expanding into Thailand with its own acquisition of the Concerts and Entertainment division of TERO earlier this month.
“Thailand’s live entertainment industry has seen immense growth over the past few years,” says Ticketmaster President Mark Yovich in the press release announcing the deal. “As we join with Thai Ticket Major, Ticketmaster will enhance the nation’s ticketing experience, bringing event organisers, venues and fans across the country an unrivalled level of service and experience.”
The move shows a continued expansion into Asia for Live Nation and its subsidiary, which established Ticketmaster Taiwan and Singapore in 2020. Live Nation also recently expanded into the Philippines, buying out the largest promoter in that country earlier in 2021.
With most western artists routing tours through the city of Bangkok – which has more than 14 million residents within its metropolitan area – and the country has a strong regional market. Acts including K-Pop and Japanese touring stars do well across the country, which features several world class venues. Ticketmaster is expected to implement digital ticketing as part of its rollout in the country, though an estimated 23 percent of the population are without smartphones as of 2020, according to Statista.
Komkrit Sirirat will continue to lead the local operation, where he serves as Managing Director of Thai Ticket Major.
“Delivering a market leading ticketing solution has been at the heart of TTM for the last 23 years, so it was the natural next step for us to join the world’s leading ticketing company, Ticketmaster,” says Brian Marcar, Managing Director of Tero Entertainment, which founded TTM in 1999. “Being part of Ticketmaster gives us the opportunity to elevate our ticketing solutions for Thailand’s premier venues and event creators as this market grows into one of the world’s premier live entertainment destinations.”
The full release announcement from Live Nation is available here.
Last Updated on July 21, 2022 by Dave Clark