WEST HOLLYWOOD, CA (CelebrityAccess MediaWire) — Ticketmaster has completed its previously announced acquisition of TicketsNow, the number-two Web-based marketplace for music, sports and other live entertainment event tickets. The acquisition makes Ticketmaster a leading company in the resale category and lines the company up to take on their major competitor in the secondary ticket market, StubHub.
"The combination of Ticketmaster and TicketsNow will redefine the event ticket resale category," said Sean Moriarty, President and CEO of Ticketmaster. "We are going to provide fans more options and the most secure, reliable and convenient way to buy tickets to the events they want to attend at a price they are willing to pay."
While the deal was lauded by Ticketmaster, it has been more controversial among other secondary ticket vendors. Ticketmaster has long been the dominant player in event ticketing but changes in the market such as the exploding secondary ticket biz (scalping as the used to call it) and the trend towards vertical integration of the live market, most visibly represented by Ticketmaster's parting with Live Nation earlier this year. Live Nation has become a dominant player in live entertainment and their decision to cease their ticketing deal with TM and bring ticketing operations in-house seems to have precipated an agonizing re-appraisal of the whole scene for TM.
The deal was reportedly closely vetted by governor regulators to safeguard the public against possible anti-trust aspects but in earnest, little public comment has been made as to how what the long-term effects of having such a strong industry player as Ticketmaster being a major player in both the primary and secondary ticket market will be.
The secondary ticket market is still largely governed by "market forces", IE, tickets can be sold for whatever the consumer is willing to pay. How long will it be until Ticketmaster removes the primary market from the game entirely and lets ticket speculators run the show entirely? – CelebrityAccess Staff Writers