Homepage / Technology / Amazon in talks to offer event ticketing in US: Reuters, citing sources
'Bitcoin cash' soars to record high above $900 as 'mining' profits jump This start-up added robots to help battle Amazon and Costco, but didn't have to cut any jobs Finnish police say arrested four other Moroccan men over links to stabbings Spanish police searching for van driver in Barcelona attack Wal-Mart has an idea for a floating warehouse that could make deliveries via drones 'Bitcoin cash' surges 40% in single day as investors bet on its faster processing speeds Memo suggests one way the right could politically attack Google and Facebook This Chinese video game popular with young people is raking in cash Hollywood's hacking pains are bigger than movie leaks Facebook’s Craigslist competitor will start selling tickets and other merchandise Goldman: There is a ‘50% chance’ of a government shutdown Josh Brown: Steve Bannon exit won't fundamentally change the story in stocks Mark Zuckerberg will take two months paternity leave starting later this year Forced to choose between football and YouTube career, college player picks YouTube Tech investor: Under Trump, business leaders have become the moral compass Goldman: These 10 stocks most-loved by hedge funds are crushing the market Chicken Soup for the Soul stock debuts on Nasdaq after crowdsourced IPO Google will introduce the next version of Android on Monday Fired engineer on being a conservative at Google: 'It's like being gay in the 1950s’ In pictures: Deadly terrorist attacks in Barcelona and Cambrils, Spain S&P 500 stocks notch two quarters of double-digit profit gains for first time in six years Art Cashin: Dow would drop up to 1,000 points if multiple Trump advisors were to resign Wall Street strategist Tom Lee sees bitcoin surging to $6,000 next year, $25,000 by 2022 Blackstone's Byron Wien: Market's 'underlying fundamentals' will outweigh a stalled Trump agenda Nike, Nvidia and other failing stocks could be signaling market shift everyone trying to forecast Cloudflare CEO: We cut service to a neo-Nazi site after it became 'a massive distraction' As US stocks get slammed, these markets are primed for growth Inside the crumbling relationship between Uber and a top investor Several people stabbed in Finnish city of Turku: Police Wall Street mystery solved: $100 million wrong-way bet behind Goldman's trading whiff The corporation Mark Zuckerberg founded to solve big problems is growing fast like a tech start-up The co-creator of Android says A.I. is the next major operating system Why the co-creator of Android thinks his small new phone company has an edge over Samsung and Apple Stock market valuations have surged to a decade high, according to BofAML Android founder Andy Rubin's new smartphone is way better than I thought it would be This dad used to be a forklift driver—now his blog brings in $17 million a year Brexit brings UK tourism boost but weak pound hurts food imports Spain terror attacks 'totally different' to other deadly incidents in Europe Cars emerge as a preferred 'weapon of choice' for terrorists, former NYPD commissioner says Blue Apron's problems still 'several quarters' away from being fixed: Analyst Data can shape psychological behavior and solve unhealthy habits, says fitness app CEO Early movers: FL, HIBB, DE, EL, CPN, THC, CSSE, GPS, ROST & more 'Trump trade' can be a market headwind Foot Locker plunges nearly 20% after sales fall way short of Street; Nike, Under Armour drop Two charts point to big trouble for tech stocks A brave trade: Why one technical analyst is betting on retail stocks The investment philosophy popularized by Warren Buffett may be about to make a comeback Infosys CEO Sikka quits, citing ‘unrelenting, baseless/malicious and increasingly personal attacks’ No matter what happens with North Korea, it's going to hurt this currency: Nomura Alibaba stock could boom by up to 34% as it takes a page from the Amazon playbook China's new problem: 'Frenzy' of consumer lending creates debt 'explosion' Infosys CEO Vishal Sikka resigns, cites recent "drumbeat of distractions" Barcelona terror attacks: what we know Ousted Uber CEO Kalanick: Investor lawsuit a 'public and personal attack' Trump's NAFTA talks have major implications for countries on the other side of the world Wisconsin bill giving $3 billion incentives to Foxconn advances Catalan police say they have killed perpetrators of 'terrorist attack' in town south of Barcelona White House jitters and Barcelona terror attack expected to weigh on Asian shares I fled the country because of fears I'd be detained, says grandson of Singapore's founder iOS 11 has a ‘cop button’ to temporarily disable Touch ID Cramer Remix: This sell-off isn’t done, things could get uglier Apple has an idea for car sensors that could drastically reduce crashes Cramer reveals the one retailer going after Amazon's Achilles heel Box CEO speaks out against Trump, says 'principles override' his company's government clients Cramer rationalizes the sell-off — and says it's not happening because of Trump Obi-Wan Kenobi is reportedly getting his own standalone Star Wars film Egypt's first bitcoin exchange to begin trading this month After-hours buzz: ROST, GPS, AMAT & more DC drama is causing ‘big headaches’ for stocks and the dollar, and it could get worse This is the real reason investors are fearful, Art Cashin says Cracks appearing on the surface of the market's stunning bull run Bitcoin bond launch brings digital currency step closer to 'world of high finance' YouTube TV expands to 14 new markets, partners with Sinclair stations Facebook tests adding news stories customized to users' interests SEC officials' holdings, legal work, pose potential conflicts Apple and Aetna met last week to talk about the Apple Watch—here's what they discussed This may be the year that investors put Alibaba on the same level as Facebook, Amazon How Google parent Alphabet exercises massive influence over start-ups in Silicon Valley Why it took tech companies so long to address extremist content Citi: Oil prices likely stuck between $40 and $60 for next 5 years with some shocks along way Mark Zuckerberg: Facebook will remove 'any post that promotes or celebrates hate crimes' 4 key questions that will shape Uber’s financial fate Cloudflare CEO admits that removing neo-Nazi site because he's in a 'bad mood' is a slippery slope Van crashes into pedestrians in Barcelona's city center, injuring multiple people Here's how Silicon Valley is responding to the Charlottesville rally, and Trump's comments on it Amazon be warned, the online 'war' is on with Wal-Mart, analyst says This start-up aims to replace 40,000 worth of man hours with one click Cisco's Robbins: CEOs on Trump panels followed their conscience and now it's time to move on Computer-game tournaments go mainstream A trade dispute threatens America’s booming solar industry The Trump administration is investigating Chinese trade practices China modernises its monetary policy The Catholic church becomes an impact investor Bitcoin's market value tops that of Netflix Looking for bubbles? Try bitcoin and this below-the-radar trouble spot US jobless claims fall to near six-month low Your first trade for Thursday, August 17 A Gary Cohn resignation would 'crash the markets,' management guru Jeffrey Sonnenfeld says Here's new evidence minimum wage hikes result in workers being replaced by robots Buy Target because it has a ‘viable’ strategy to compete with Amazon: Analyst

Technology

Amazon in talks to offer event ticketing in US: Reuters, citing sources

Amazon is seeking to partner with U.S. venue owners to sell event tickets, four sources have told Reuters, a move that could loosen Ticketmaster’s powerful grip on the lucrative ticketing business.

Shares of Live Nation were up about 5 percent following the report. Amazon shares were down 2.5%

If Amazon moves ahead, it would represent the latest attempt by the world’s largest online retailer to use its massive customer base, tech savvy and bargaining power to shake up a big market.

The Seattle-based company sees the U.S. ticketing market as ripe for attack. Consumers dislike ticket fees, and venue owners, sports leagues and teams want more distributors for their tickets as they seek to boost sales.

Access to tickets could be another means to lure members to the Amazon Prime shopping club. For music acts and sports teams, selling tickets through Amazon could help sell their merchandise.

Currently Ticketmaster, owned by Live Nation, is the exclusive seller of primary tickets for many top venues in the United States. Would-be challengers have struggled to compete in the face of Ticketmaster’s strong relationships with the operators of major U.S. sports stadiums, arenas, concert halls and other venues.

Amazon has had success with ticketing in Britain, where it has been selling seats to West End shows since 2015, even outselling Ticketmaster for some events, according to one of the sources, who owns venues in that country. It is less common for venues in Britain to have an exclusive ticket provider.

Live Nation declined to comment. Amazon did not return a request for comment.

Amazon has had conversations to partner with Ticketmaster as a potential way to get into ticketing in the United States, but those conversations have stalled over who would control customer data, according to sources with knowledge of the conversations.

Ticketing would likely make money for Amazon, which has a patchy record of profitability. Ticketmaster generated $1.6 billion in revenue from initial sales of tickets to events in 2016, according to estimates by research firm BTIG. That figure does not include revenue from the reselling of tickets, which BTIG estimates at $250 million.

Amazon has approached at least one league about selling tickets on the secondary market as well, one of the sources said, a business like eBay StubHub.

Getting a foothold in the ticketing business would likely be an expensive proposition. Ticketmaster in many cases pays the venues for the right to sell tickets and manage the box office, and venue owners are loath to give up that revenue even when it means high ticketing fees for consumers.

Amazon has offered to write sponsorship checks worth millions of dollars to the venues, one of the sources said. But it has yet to budge on customer data. Owners want to know who is buying their tickets so they can tailor social media campaigns and book the right acts in the right places.

Amazon has made a number of moves to get more customers to its website and subscribe to Prime. Earlier this year, it agreed to pay about $50 million to the U.S. National Football League to livestream this season’s 10 Thursday night games, sources have told Reuters.

“It’s all about Prime,” said Brandon Ross, an analyst at BTIG. “The reason they are spending multiple billions of dollars a year on programming is to get more Prime subscribers and engage more consumers.”

Source: Tech CNBC
Amazon in talks to offer event ticketing in US: Reuters, citing sources

Comments are closed.