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Amazon might take on Ticketmaster with concert and sports ticket sales
11 August 2017, 04:14 | Melissa Porter
Marcio Jose Sanchez AP
Ticketmaster, owned by Live Nation Entertainment Inc (LYV), is the exclusive provider of primary tickets for several top venues in the US, the report said.
Ticketmaster's lock on tickets for many huge concerts and sports games may be in jeopardy, as Amazon looks to muscle in on the lucrative ticketing business, according to a new report.
"Would-be challengers have struggled to compete in the face of Ticketmaster's strong relationships with the operators of major USA sports stadiums, arenas, concert halls and other venues", according to Reuters, which said it based its report on four sources it didn't name.
But at the moment, it's unclear if Amazon's current interest in the industry will lead anywhere significant.
Bringing Amazon into the mix would help venue owners sell more tickets, presumably because any additional fees wouldn't be as high.
It would also challenge Ticketmaster, which has a strong grip on the market.
Interestingly, Amazon is said to have held talks with Ticketmaster about possibly teaming up on ticket sales, but questions of which company would control customer data left discussions cold. The company already operates Amazon Tickets overseas, but hasn't launched that business at home in the United States yet. Amazon has also talked to leagues about potential StubHub-style secondary market ticket resales, too, the report claims.
Part of the reason for this potential resistance comes from Amazon's likely reason for looking into the ticket sales market.
Amazon has offered to write sponsorship checks worth millions of dollars to the venues, one of the sources said.
Access to tickets could be another means to lure members to the Amazon Prime shopping club. Earlier this summer, Amazon bought grocery chain Whole Foods for an estimated $13.7 billion and past initiatives have included the growth of Amazon Prime Video into a viable competitor to Netflix.
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