TicketsNow is being acquired by TicketMaster
As with any new year, speculations arise about what next business will be acquired to strenghten another company's product offering. There is always speculations and then there is the actual transactions that take place. One major blockbuster was when eBay acquired Stubhub and now there is another blockbuster in the works which will make this aftermarket ticket company an even more exciting industry-changing alliance.
TicketsNow has entered into an agreement to be acquired by Ticketmaster.
Their consolidated strengths will create great opportunities to sell more tickets and each company the tools to achieve long-term growth and success. Combining TicketsNow's strong resale network with Ticketmaster's distribution capabilities will enable TicketsNow to set a new standard for resale by providing unsurpassed reliability, security, and convenience.
The transaction is expected to close in the first quarter of of 2008, and upon closing TicketsNow will be an independently operated, wholly owned subsidiary of Ticketmaster. The current executive team will remain in place and continue to lead TicketsNow's operations offices in Rolling Meadows and Crystal Lake, Illinois.
Ticketmaster has been trying to get a foothold on the ticket aftermarket for a long time but it's ticket auctions and aftermarket operation hasn't had great success. People that sell tickets at Ticketmaster's reseller market would often see there tickets go unsold or sell at a lower premium than they wanted.
There are only a few ticket resellers that have a strong name in the marketplace of selling hard to get, sold out and front row tickets. Once these premium tickets are sold at face value, there are several factors that make these ticket prices skyrocket like hot cakes. The location of the seats and who the performer is, sometimes its the date of the event - broadway shows sell for a higher price near the holidays. But tickets for the Rolling Stones, Aerosmith and Hannah Montana can double in price in the aftermarket once the show is sold out.
TicketsNow has entered into an agreement to be acquired by Ticketmaster.
Their consolidated strengths will create great opportunities to sell more tickets and each company the tools to achieve long-term growth and success. Combining TicketsNow's strong resale network with Ticketmaster's distribution capabilities will enable TicketsNow to set a new standard for resale by providing unsurpassed reliability, security, and convenience.
The transaction is expected to close in the first quarter of of 2008, and upon closing TicketsNow will be an independently operated, wholly owned subsidiary of Ticketmaster. The current executive team will remain in place and continue to lead TicketsNow's operations offices in Rolling Meadows and Crystal Lake, Illinois.
Ticketmaster has been trying to get a foothold on the ticket aftermarket for a long time but it's ticket auctions and aftermarket operation hasn't had great success. People that sell tickets at Ticketmaster's reseller market would often see there tickets go unsold or sell at a lower premium than they wanted.
There are only a few ticket resellers that have a strong name in the marketplace of selling hard to get, sold out and front row tickets. Once these premium tickets are sold at face value, there are several factors that make these ticket prices skyrocket like hot cakes. The location of the seats and who the performer is, sometimes its the date of the event - broadway shows sell for a higher price near the holidays. But tickets for the Rolling Stones, Aerosmith and Hannah Montana can double in price in the aftermarket once the show is sold out.
posted by Web Author at 10:24 AM
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