WEST HOLLYWOOD, CA (VIP-NEWS) — For the three months ended June 30, 2008, Ticketmaster has reported total revenue of $382.3 million, up 30% over the prior year, according to a 10-Q quarterly report the ticketing company filed yesterday, September 24, 2008.
The quarterly report arrives approximately one month after Ticketmaster’s spin-off from parent company IAC. The ticketing company now operates as a free-standing, publicly traded company.
During the three-month period, Ticketmaster’s domestic revenue was up 31% ($261.5 million) over last year. The increase is due to a 9% increase in average revenue per ticket and a 5% increase in the number of tickets sold, according to the SEC filing.
Ticketmaster partly attributes the domestic rise in ticket sales to the 2008 acquisitions of ticketing companies TicketsNow and Paciolan. The 9% increase in average domestic revenue per ticket resulted from “higher convenience and processing fees due, in part, to annual contractual increases,” the report states.
Ticketmaster’s international revenue grew by 30% ($120.8 million) over the same period in 2007. The rise is due to a 13% increase in average revenue per ticket and a 9% increase in the number of tickets sold, primarily seen in Canada, China and Australia, according to the SEC filing.
The 10-Q quarterly report also states that Ticketmaster does not expect to renew its ticketing contracts with Live Nation (including its House of Blues business). The last contracts with Live Nation expire on March 1, 2010.
Live Nation represented approximately 18% of Ticketmaster’s combined revenue for the three months ended June 30, 2008, the SEC filing states. In January 2009, Live Nation Ticketing will launch as a full service, in-house ticketing company. According to billboard