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.
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
When Ticketmaster quietly updated its refund policy last month, the ticketing giant received harsh backlash from fans. Now, the company has opted to allow refund requests, but fans are still not satisfied. Originally, fans were able to receive refunds “if your event is postponed, rescheduled, or cancelled,” however, early... Read more
A pair of consumers have filed a class action lawsuit in California against Live Nation Entertainment and Ticketmaster alleging the entertainment behemoth operates in violation of antitrust laws. The lawsuit was filed in U.S. District Court in the Central District of California on behalf of Olivia Van Iderstine and... Read more
As the live event industry is halted, online platforms are rising to the occasion in order to keep the spirit of concerts alive. Artists have been taking to YouTube, Facebook, Instagram, Twitter, and Twitch to perform livestreams – acting as a new norm in the industry. Live Nation even... Read more
Hundreds have been furloughed as part of cost-cutting measures put into place by Ticketmaster, surprising many who had been assured the company was trying hard to avoid cutting staff on multiple calls, according to Billboard. Multiple offices across North America will be impacted by the cuts to the Live... Read more
Following harsh backlash from fans, Live Nation updated its ticket-refund policies for cancelled or postponed events amid the coronavirus pandemic. Originally, the company – along with its subsidiary Ticketmaster – said it would only refund ticketholders for events that were cancelled or rescheduled, not postponed, within a 30-day window.... Read more
Ticketmaster has continued to come under fire as the ongoing pandemic has impacted much of its business. Despite widespread concert postponements and cancellations, Canadian consumers still had access to tickets for impacted events as sales listings had not been removed from the Ticketmaster-owned Ticketweb, among other portals. A slew... Read more