UK firm gets into ticket resale biz

TEXT OF STORY

Doug Krizner: Last week, we told you about a deal between the online ticket reseller StubHub and Major League Baseball. Today, word a London-based Internet company is getting into a similar act with American football. Stephen Beard reports.


Stephen Beard: Former StubHub boss Eric Baker has struck a deal with the Cleveland Browns. His European Website Viagogo will be the team's exclusive secondary ticketing site.

Like StubHub, it allows fans to buy unwanted tickets to live events. Baker has struck deals with leading British soccer clubs like Manchester United and Chelsea. He's had less success winning the approval of British concert promoters, however.

Paul Stokes of the New Musical Express says ticket Websites are dominated by scalpers:

Paul Stokes: People are literally selling tickets thirty seconds after they've bought them. They've got no intention of going to the concert or festival in question. It's merely to exploit fans' love of music to try and get a higher price for it.

Eric Baker today announced that he has raised $30 million to finance his new Website's expansion in the U.S., to take on his old company StubHub.

In London, this is Stephen Beard for Marketplace.

About the author

Stephen Beard is the European bureau chief and provides daily coverage of Europe’s business and economic developments for the entire Marketplace portfolio.

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