Amazon wants to expand its ventures into the world of ticketing.
In comments first published by Reuters and quickly repeated Thursday afternoon, Amazon reportedly wants to partner with venues across the United States (at least for now) to offer ticket selling services. This bold move would make it a competitor of Ticketmaster, the nation’s largest ticket seller.
Amazon already sells tickets to concerts and sporting events in the UK, the article notes, with some success.
“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,” Reuter notes. “The Seattle-based company sees the US 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.”
Giving the Bezos tree yet more branches
Reuters also speculates this could help encourage customers to sign up for Amazon’s Prime service if it gave special access to tickets, for example. Or, switching to the band and sports side, it could provide a really big, easy avenue for selling more merch, directly via Amazon’s site.
If successful, it would prove a powerful tool against Ticketmaster’s seeming monopoly in the ticket-selling and venue partnership business in the US.
The news had an immediate effect on the share price for Live Nation, Ticketmaster’s parent company. “Live Nation’s shares, which had been up more than 12 percent earlier on Thursday after the company’s quarterly results (were released) pared gains following the Reuters report and briefly turned negative,” Reuters later reported. “The shares recovered to close up 5.6 percent in the stock’s busiest trading day by volume since 2014. Amazon’s shares closed down 2.6 percent.”
There’s also rumblings that Amazon has been in talks with at least one professional sports league and eBay, which owns ticket reseller site StubHub.
It doesn’t hurt that Amazon and its owner, Jeff Bezos, are at the center of a multifaceted empire, with involvement in space exploration, literature, smart home technology, journalism and a handful of other ventures.