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Ticketmaster
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Ticketmaster
Type
Subsidiary IAC/InterActiveCorp
Founded
1976 in Arizona by Albert Leffler, Peter Gadwa, Gordon Gunn & Charles H Hamby Jr.
Headquarters
West Hollywood, California, USA
Key people
Sean Moriarty CEO, Terry Barnes Chairman, Susan Bracey EVP and CFO, Ed Weiss General Counsel, Brian Pike Chief Technology Officer
Industry
Live Entertainment
Products
Ticketing technology, Ticket Sales, Ticket Resales, Marketing, Distribution of event tickets and information, support of venue renovation
Revenue
In 2007, Ticketmaster sold more than 142 million tickets valued at $8 billion.
Employees
6,678
Parent
IAC/InterActiveCorp
Website
www.ticketmaster.com
Ticketmaster is a ticket sales and distribution company based in West Hollywood, California, USA, with operations in many countries around the world. Typically, Ticketmaster's clients (arenas, stadiums, and theatres) control their events, and Ticketmaster simply acts as an agent, selling the tickets that the clients make available to them.
One of the first ticketing companies to sell tickets on the Internet, Ticketmaster now sells a large percentage of its tickets online, some via phone, and a percentage through its many ticket outlets.
Ticketmaster has recently devoted significant resources to counter fraud. Other technology includes barcoded tickets, which offers the ability for counterfeit tickets to be refused at the point of entrance.
Ticketmaster's market share remains over 50% of total sales for tickets in the United States. Despite the ready availability of web-based ticketing software, Ticketmaster continued to see revenue growth in 2006 & 2007.
Major League Baseball's acquisition of rival Tickets.com in 2005 marks the most significant organization moving away from using Ticketmaster's services.
Ticketmaster is currently owned by IAC/InterActiveCorp, but on November 5, 2007, IAC announced plans to spin Ticketmaster off into a publicly held, independent entity.
Ticketmaster recently acquired a UK ticket exchange site, Getmein.com. Getmein is a ticket exchange site that allows sellers to list the tickets at whatever price they choose. It claims to have over 500,000 tickets listed at any one time and independent research has shown the majority of these to be priced at least 100% above the original face value.
In early 2008 Ticketmaster completed the acquisition of Paciolan Inc.. Paciolan is a developer of ticketing system applications and hosted ticketing systems.
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