In its 30 years of existence, the ticketing giant has gained a virtually monopolistic hold on the ticket vending industry. These are the milestones in Ticketmaster's history.
Created by grassyroots on May 5, 2008
Last updated: 03/03/10 at 03:53 PM
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A Calif. district court judge rules that Ticketmaster's business practices do not violate U.S. anti-trust laws.
In an effort to stanch the drainage of revenue from its break with Live Nation, Ticketmaster buys Ticketsnow, the country's second largest online scalper (the first being eBay's StubHub).
The company plans to share revenue from its new division with clients that own venues or promote events, though no details have been finalized, according to Ticketmaster.
The size of the secondary tickets market is estimated at $2.5 to $5 billion a year in the U.S.
Live Nation and its sub, House of Blues, makes up about 20% (or $200 million) of Ticketmaster's annual sales.
The jam bands wants to sell tickets directly to its fans, but Ticketmaster has exclusive contracts with most major U.S. venues.
The case is settled out of court.
photo courtesy www.stringcheeseincident.com
Lawsuit brought by concertgoers alleges that Ticketmaster has exclusive contracts with almost every major concert promoter and 63% of concert venues, according to CNN.
Supreme court throws out case without comment. Under court precedent, damages for price fixing can be sought only by someone who directly bought something from a seller -- in this case, concert venues.
Shares of Ticketmaster, which had merged with Citysearch 3 months prior, rocketed 243% from an initial public offering price of $14 to open at $48 per share.
IAC now wholly owns Ticketmaster.
Ticketmaster's current parent IAC, then known as HSN (Home Shopping Network), acquires a controlling share of the company from Paul Allen.
First internet tickets sold for Seattle Mariners games.
At the height of the Pearl Jam crusade, the New York Times published a long profile on the company.
With an estimated 37% of ticketing market share, the company's main competitors were Dillard's (Phoenix, AZ) and Protix (Madison, WI).
Billionaire Paul Allen, who was a major investor in AOL, reported buys the company for $325 million.
The industry speculates that Allen may exploit the link between Ticketmaster's computerized ticketing and the tens of millions of personal computers that can tap into it through America Online to browse and buy tickets, according to the New York Times.
In 1993, approximately 40% of tickets were sold over the phone, the rest from retail outlets. The company launches barcode ticketing in 1994.
photo courtesy Forbes.com
Ticketmaster acquires rival, Ticketron, for an undisclosed amount and gains some big accounts, including California Angels, New York Mets, Buffalo Bills, Pacific Amphitheater and several Broadway theaters in New York City.
Ticketmaster revenues climb to $650 in 1990. The year's highest grossing tour? New Kids on the Block with $74 million, according to Pollstar. photo courtesy of www.nkotb.com
photo courtesy northwestern.edu
Former corporate lawyer credited with attracting the attention of Jay Pritzker and Paul Allen becomes CEO of Ticketmaster. Rosen moves the company to Los Angeles to take advantage of rock concert deals.
"If we do have a lot of market share, guess what?" he asked. "We earned it! And if we earned it, it's something to be proud of. Proud of!"
photo courtesy Ticketnews.com
The struggling $1 million-per-year upstart got its big break with a major-league baseball franchise whose new owner was appalled to find that his team did not have computerized ticketing. At the beginning of each baseball season, tickets to every seat for every game were printed, stored in the stadium, then delivered to box offices and ticket outlets as game dates approached. The system was horribly inefficient, and wasteful as well, as most of the tickets printed up were never sold.
Ticketmaster was founded by three Arizona State University students: Albert Leffler, Peter Gadwa and Gordon Gunn. Leffler, who studied performing arts, had been working at the school's Grady Gammage Auditorium. The computerized ticketing industry is dominated by the $100-million-per-year giant Ticketron, which was founded in 1968.