Ticketmaster Entertainment, Inc. was established in 1976 and is the world’s largest ticket company, generating revenues of well over $1 billion annually. In 2008, the company acquired Front Line Management Group, world’s leading artist management company, and changed its name to Ticketmaster Entertainment to better reflect its evolution into a “live entertainment ticketing and marketing company.” Ticketmaster Entertainment, Inc. is the parent company, and Ticketmaster is the operating business. Ticketmaster Entertainment is headquartered in West Hollywood, CA, and its stock trades on NASDAQ under the symbol “TKTM.”
The company operates in 20 markets around the world, and not only provides primary ticket sales, it also offers secondary ticket sales through its own TicketExchange and TicketsNow subsidiary.
In addition, the company has marketing and distribution through its Web site, www.ticketmaster.com, an immensely popular e-commerce site, and it has about 6,700 retail outlets, and provides exclusive ticketing solutions and other services for more than 10,000 clients, including arenas, stadiums, professional and college sports teams, theaters and performing arts venues, among others. Ticketmaster sells more than 140 million tickets annually.
In 2009, the company lost its largest client, Live Nation, which struck out on its own to launch its own primary ticketing business.
Live Nation bought itself additional time with creditors with an extension of its credit agreement from the end of September of this year all the way through the end of December 2021. The move allows the entertainment giant to focus on keeping operations afloat in the period of little... Read more
Live Nation Entertainment owner Liberty Media got approval from the Department of Justice to dramatically increase its stake in iHeartMedia, over the objection of anti-monopoly advocates. Liberty, which already controls Sirius XM and Pandora in addition to its 33 percent stake in Live Nation and Ticketmaster, got approval to... Read more
Major League Baseball and all of its teams joined its ticketing partners including Ticketmaster and StubHub in asking the U.S. District Court in Los Angeles to put discovery on hold in a class action lawsuit over refunds related to games cancelled due to the coronavirus pandemic. The lawsuit, filed... Read more
Fans who purchased resale tickets to Hamilton in Baltimore will see some of their money back from Ticketmaster, after the ticketing giant reached a settlement with Maryland’s attorney general announced late last week. The settlement ends a lawsuit brought by Brian Frosh’s office against the California-based entertainment giant which... Read more
Ticketmaster’s General Counsel Karen Klein has left her position at the ticketing giant amid the widespread cancellation of events due to the coronavirus pandemic. Klein, who also served as the executive vice president, joined the company in 2019. During her role, Klein led Ticketmaster’s legal, government affairs, public policy,... Read more
As the live event industry remains halted amid the coronavirus pandemic, venues and promoters are looking at ways to still keep the spirit of concerts alive through drive-in movie theater shows. Now, New Jersey is hopping on the bandwagon for its first drive-in show this summer. A new drive-in... Read more
K-Pop sensation BTS were forced to postpone their Map of the Soul: 7 world tour amid the coronavirus pandemic. Amid Ticketmaster’s new refund policy, fans are lashing out as they are now forced to choose between requesting a refund during a 30-day window or waiting for new dates and... Read more
In recent weeks, Ticketmaster has seen its refund process draw backlash from consumers and lawmakers alike. Now, one of the seller’s partner venues is speaking out against the “unacceptable” practice of withholding refunds from fans. Florida’s St. Augustine Amphitheatre is looking to refund fans that purchased tickets for the... Read more
In order to stay afloat amid the coronavirus pandemic, live entertainment behemoth Live Nation announced that it has furloughed 20 percent of its staff in cost-cutting measures. According to Billboard, the company revealed a $600 million cost-cutting package, which will affect 2,100 of Live Nation’s 10,500 employees. Back in... Read more
Weeks after urging Ticketmaster to revise its refund policy in a scathing letter, U.S. Representatives Bill Pascrell (D-NJ) and Katie Porter (D-CA) say that more action is needed. The pair issued another letter singling out the country’s largest ticket seller for its practices during a global pandemic in which... Read more