Amazon.com Inc (AMZN.O) 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.
[su_button target=”blank” background=”#4554f5″ size=”5″ wide=”yes” center=”yes” icon=”icon: star” icon_color=”#f8f9fa”]Click Here For Other Stories And Videos On South Florida Reporter[/su_button]
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 Entertainment Inc (LYV.N), 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.