Ray Waddell from Billboard magazine reports event mega-promoter Live Nation will bring its ticketing operation in-house when their contract with Ticketmaster expires at the end of 2008. Live Nation will enter a partnership with CTS Eventim starting in 2009, which CEO Michael Rapino says may add $25-million annually to Live Nation’s operating income. Rapino says, “For the first time ever Live Nation will control our most important asset, the concert ticket.” He expects to sell 20-million tickets annually just through Live Nation’s website.
Live Nation can also now leverage ticketing services business outside of Live Nation events. But, I wouldn’t hold your breath for lower ticket prices anytime soon — now, Live Nation gets to keep all the service charges.
The CTSE/LN deal is reportedly for ten years, starting in 2009.
Filed under: Uncategorized | Tagged: Concerts, events, Live Nation, Ticketmaster, tickets
