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Renita Jabonski: Event promoter Live Nation used to turn to Ticketmaster to sell its tickets. But the partnership hit a snag this year. Live Nation’s new deal with a German ticket company could mean lower ticket prices for consumers. Marketplace’s Janet Babin reports from North Carolina Public Radio.
Janet Babin: Beginning in 2009, Live Nation will team up with CTS Eventim to sell tickets to its events.
The German firm will provide the technology and infrastructure platform, but it’ll let Live Nation connect with its customers. In most cases, people won’t even know CTS is involved in the ticket transaction.
Peter Gaston with Spin Magazine says that gives Live Nation a huge advantage it couldn’t achieve with its old partner, Ticketmaster:
Peter Gaston: Live Nation’s going to own all of its customer data. So whereas before, Ticketmaster owned all the relationships with the people actually buying the tickets, now Live Nation can build a relationship with those customers.
That database will help Live Nation to better market its shows and concerts.
The new arrangement might even save consumers some money. Gaston says Live Nation will probably pay lower fees and service charges to the new ticketing company.
I’m Janet Babin for Marketplace.
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