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Author: Subject: The real reason why you could not get Beacon tickets for the 20th, and 21st

A Peach Supreme





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  posted on 1/16/2009 at 05:53 PM
TicketMaster Buys Online Scalper TicketsNow For $265 Million
by Erick Schonfeld on January 15, 2008
Just in time for the Super Bowl and ahead of IAC’s breakup, Ticketmaster has struck a deal to acquire online ticket scalper TicketsNow for $265 million. This follows eBay’s acquisition of StubHub for $310 million last year. TicketsNow is the second-largest online ticket scalper after StubHub, having sold $200 million worth of tickets in 2006. Sources tell us Ticketmaster first looked at RazorGator for about the same price, but that deal fell through during due diligence. Once they took a look at the books, they passed. The $265 million paid for TicketsNow, we are told by another knowledgeable industry source, is 35 times EBITDA and about 5X revenues (of $60 million).
Many of the tickets that scalpers, er, brokers, sell on these secondary marketplaces are initially purchased from the Ticketmasters of the world. So the markup is a missed opportunity for Ticketmaster, whose own TicketExchange has shown lackluster performance.
The TicketsNow deal shows how hot the secondary event ticket market is becoming, and Ticketmaster’s entry will likely help legitimize the sector (see our previous coverage on some of the problems with the industry).
The WSJ, which broke the story, reports:
Ticketmaster President and Chief Executive Sean Moriarty said the company plans to share revenue from its new division with clients that own venues or promote events, although he said details on how the money would be distributed aren’t final. He said the move highlights a shift in the way ticket resellers are perceived, both by the public and by concert-industry participants. Where resellers once were viewed as shady scalpers, now, thanks largely to the Internet, they are becoming more respectable.
“Clients who five years ago were not willing to allow a ticket to be resold now want a piece of it,” Mr. Moriarty said. The size of the secondary ticket market is hard to judge, but estimates range from $2.5 billion to $5 billion a year in the U.S.
That’s a nice growth market for a business that is about to be spun off as its own stock.
According to comScore, TicketsNow had 1.5 million unique visitors in December, about the same it did a year ago, while StubHub attracted 3.4 million and has been growing nicely under eBay’s wing (although it took a major hit in November).
TicketsNow
Website: ticketsnow.com
Location: Rolling Meadows, Illinois, United States
Acquired: January 1, 2008 by Ticketmaster for $265M in Cash
With over 1.5 million unique visitors as reported by comScore in December 2007, TicketsNow.com is the #2 player in the online ticket reselling business. TicketNow’s main competition comes from eBay’s StubHub and… Learn More
RazorGator
Website: razorgator.com
Location: Los Angeles, California, United States
Funding: $48.8M
RazorGator is the 3rd largest player in the online ticket reselling business behind eBay’s StubHub and Ticketmaster’s TicketsNow according to December 2007 comScore data. The… Learn More
Information provided by CrunchBase



[Edited on 1/17/2009 by Mulehead1]

 

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A Peach Supreme



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  posted on 1/16/2009 at 05:55 PM
isn't that nice
 

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  posted on 1/16/2009 at 05:56 PM
Just in time indeed

 

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  posted on 1/16/2009 at 06:01 PM
Not to burst your bubble, but the date of your article is 1/15 of 2008 and the ticketmaster has had the links to ticketsnow since last year.This is not new news.
 

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  posted on 1/16/2009 at 06:02 PM
It looks like Jan 08, not 09 to me. As someone said in another thread, Tickets Now is like Stub Hub where tix are bought and sold by 3d parties.

I just looked at Tickets Now for 3-21 and the tickets were pretty marginal. Don't you think if TM was skimming tix to scalp that they would take the better seats? I don't know what the problem was this am, but maybe it was a function of the AMEX presale getting a big allocation and the simple matter of there being 5 less shows.

 

A Peach Supreme



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  posted on 1/16/2009 at 06:04 PM
quote:
Not to burst your bubble, but the date of your article is 1/15 of 2008 and the ticketmaster has had the links to ticketsnow since last year.This is not new news.

Duhhh...I searched to see if both were owned by Ticketmaster. I remember the sale was coming. I didn't even notice the date. I'm still writing 08 on my checks.

 

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  posted on 1/16/2009 at 06:14 PM
U meant well Mulehead1 LOL!
 

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  posted on 1/16/2009 at 06:30 PM
Might not be the reason for lack of tickets during today's general sale, but i sure did get a kick out of this statement in the article:

"Where resellers once were viewed as shady scalpers, now, thanks largely to the Internet, they are becoming more respectable."

Respectable to whom?
Not the majority of people trying to attend an event.....

 
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Peach Head



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  posted on 1/16/2009 at 06:41 PM
ok...so presale (both AMEX and Peach Corps) seats weren't so great. Figured I would hang in for general sale today. At the split second the "find tickets" came on the TM page for March 21...I was in, and for the next 38 minutes, re-tried and re-tried and never ONCE had the option of buying 2 seats anywhere for any price. How the hell can they be "sold out" at 10 seconds after 10am? Just to see what happened, I clicked on 3/14 and even a Tues. or Thurs., and TM still couldn't give me 2 seats. Called TM to complain...of course they said that it is difficult to get tickets to popular concerts...
I feel totally scammed!!!!
---Lette
p.s. on the up side...Gregg's concert at the Wellmont, Montclair, NJ was pure enjoyment. I loved it all!

 

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  posted on 1/16/2009 at 08:18 PM
Which further explains why, when searching for tickets on-line and being advised none are available, we have the easy(sic) option of linking from that very page to TicketsNow for inflated pricing for all locations...I know about Pearl Jam's failed crusade against TM, but one would think an allied effort on the part of some prestigious artists would be able to right this all too obvious wrong...is it too much to ask for the artists to at least question these tactics if not devise alternate means of sale...of course that begs the question of where all the profits on these ticket prices go??????????
 

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  posted on 1/16/2009 at 08:23 PM
On the bright side, it looks like the ABB sold out of tickets faster than Bruce Springsteen.

 

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  posted on 1/16/2009 at 08:42 PM
Great post Mule' ....it is irrelevant 'when' the TICKETMASTER folks went into the scalping business...the point is ...they ARE.

In addition, DOVETAIL has the balls to ask the real question. Seems highly unlikely that the "Artists'' and the ''Promoters"...and the "Site Owners (Beacon)" are not aware of the practice and one could only surmise that they ALL benefit. I have copy/pasted my post from the other thread....it is relevant. I do so only to reiterate my point...

________

Guys & gals....

I haven't read all 4 pages of posts--up to this moment--but have scanned several. I hate to pose a rather obvious question that NO one seems willing to address....but has it occured to anyone that perhaps this IS the deal the 'band' has negotiated??? I argue with myself in regards to 'capitalism' and the idea that this IS the 40th Anniversary and the 'band' should have a right to make all the money they can. Yet, I remember the 'battlecry' of years gone by about the "Band of the People". I think that has sadly become a myth.

Quite frankly, I am also upset with the 'gameplan' of selling the public on the idea of "Superstars'' attending .....Clapton, Scaggs, Franklin, BETTS?.....then 10 shows are listed. We've all rushed out and bought tix for the first 10 shows...NOW SOLD OUT!. Now sure as sh*ttn....there will be "Due to Demand--5 more shows ADDED!". Betcha Clapton comes to one of those shows and we who have made plans to travel to NYC from all over the country during the first 10 nites get stuck with the 'bass player from Mott the Hoople" as our 'special guest' on the 21st. I hope I'm wrong but I smell something funky and it ain't Aaron Neville. Then--WOW--we'll have to rush back to our homes and purchase the MOOGIS thing so we'll get to see "CLapton". What a GREAT marketing plan!!!

Nevertheless....I'm coming with a smile on my face to hear some good tunes albeit in the nosebleeds and most importantly hang out with my friends from all over the world. I'll cheer when the 'bass player from Mott the Hoople' is introduced and describe how 'great it was!". But if there' is a '41st year'.....I have a feeling I'm going to be a bit more choosy and remember how it 'used to be'.

Pardon me being a bit cynical....ironically, I'm in 'business' and I know how it works. I've also been accused before of being 'brutally honest'. I hope I'm wrong but I doubt it....


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  posted on 1/16/2009 at 08:50 PM

 

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  posted on 1/16/2009 at 09:04 PM
To quote Pogo "We met the enemy, and he is us".

When "we" started to pay scalpers 5, 10 times the face of a ticket "we" lost. Doesn't matter who's doing, doesn't matter who's paying it. "We" lost. Only way to win, is to stop buying tickets. I stopped for 25 years, but I started Jonesing some live music, and I'm back. Just a few more shows before I'm too old and feeble to climb those baicony steps.

 

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  posted on 1/16/2009 at 09:28 PM
With the economy the way it is right now, expect to see these tickets linger for a long time and eventually drop in price. The "stupid" money just isn't there right now, even in NY. I think if folks are patient then you should be able to score some deals as the date of the shows approach. Of course, if you give in to these inflated prices and pay them then don't complain because that only makes you part of the problem. Someone mentioned in another thread about the reaction to being shut out because "no one is entitled to a ticket, not even me". True, but I think you are at the very least entitled to a fair shot at a ticket, which I don't think people were. And there is something seriously wrong with that.
 

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  posted on 1/16/2009 at 09:29 PM
Yes, I was surprised to see the Tickets Now banner on ticketmaster's web page - ie cause they are a scalper.

It's a pity when you are walking to the Beacon and get within 2 blocks on the night there are people everywhere trying to sell tickets - I take it they are TicketNow employees doing the daily offload.

It's all pretty full on.

On the bright side, I got to see The DTB for $45 and got front row tickets on day 3 of them being on sale and for an extra $10 a ticket to a Saturday show. T

That was for Adelaide Australia. We don't have scalping to the degree you have it in the US. Nowhere near. Only a few people putting up tickets on eBay at inflated prices and because there just isn't the population/market here for gigs, often the prices of the scalpers become less than the face value of the tickets.

The moral to the story is - The Allman Brothers should come and play in Australia so I can get front row.

 

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  posted on 1/16/2009 at 10:19 PM
quote:
Guys & gals....

I haven't read all 4 pages of posts--up to this moment--but have scanned several. I hate to pose a rather obvious question that NO one seems willing to address....but has it occured to anyone that perhaps this IS the deal the 'band' has negotiated??? I argue with myself in regards to 'capitalism' and the idea that this IS the 40th Anniversary and the 'band' should have a right to make all the money they can. Yet, I remember the 'battlecry' of years gone by about the "Band of the People". I think that has sadly become a myth.

Quite frankly, I am also upset with the 'gameplan' of selling the public on the idea of "Superstars'' attending .....Clapton, Scaggs, Franklin, BETTS?.....then 10 shows are listed. We've all rushed out and bought tix for the first 10 shows...NOW SOLD OUT!. Now sure as sh*ttn....there will be "Due to Demand--5 more shows ADDED!". Betcha Clapton comes to one of those shows and we who have made plans to travel to NYC from all over the country during the first 10 nites get stuck with the 'bass player from Mott the Hoople" as our 'special guest' on the 21st. I hope I'm wrong but I smell something funky and it ain't Aaron Neville. Then--WOW--we'll have to rush back to our homes and purchase the MOOGIS thing so we'll get to see "CLapton". What a GREAT marketing plan!!!

Nevertheless....I'm coming with a smile on my face to hear some good tunes albeit in the nosebleeds and most importantly hang out with my friends from all over the world. I'll cheer when the 'bass player from Mott the Hoople' is introduced and describe how 'great it was!". But if there' is a '41st year'.....I have a feeling I'm going to be a bit more choosy and remember how it 'used to be'.

Pardon me being a bit cynical....ironically, I'm in 'business' and I know how it works. I've also been accused before of being 'brutally honest'. I hope I'm wrong but I doubt it....



I agree something smells rather off. Ticketmaster and all that reap the benefit of scalping shall lose eventually expecially in thsi economy. Justice For All!!!

 

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  posted on 1/17/2009 at 12:11 AM
quote:
It looks like Jan 08, not 09 to me. As someone said in another thread, Tickets Now is like Stub Hub where tix are bought and sold by 3d parties.

I just looked at Tickets Now for 3-21 and the tickets were pretty marginal. Don't you think if TM was skimming tix to scalp that they would take the better seats? I don't know what the problem was this am, but maybe it was a function of the AMEX presale getting a big allocation and the simple matter of there being 5 less shows.


I still think they skimmed tons of tickets. Why announce a general sale if there are no tickets left for it. I saw very, very few people get any tickets at all today and most of those who did got singles. We will find out leading up to the shows if tickets all of a sudden start showing up back in Ticketba$tards system.

I have never ever seen this before with a general sale. Nobody getting tickets to any of the shows from the second they go on sale??? Scratching head??? Something definetly fishy about that.

 

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  posted on 1/17/2009 at 08:19 AM
quote:
Not to burst your bubble, but the date of your article is 1/15 of 2008 and the ticketmaster has had the links to ticketsnow since last year.This is not new news.


The date is not the point. The point is that this is a way of increasing ticket prices LITERALLY 500%. Who cares what the date is? We are getting screwed.

 

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  posted on 1/17/2009 at 08:23 AM
quote:
Great post Mule' ....it is irrelevant 'when' the TICKETMASTER folks went into the scalping business...the point is ...they ARE.

In addition, DOVETAIL has the balls to ask the real question. Seems highly unlikely that the "Artists'' and the ''Promoters"...and the "Site Owners (Beacon)" are not aware of the practice and one could only surmise that they ALL benefit. I have copy/pasted my post from the other thread....it is relevant. I do so only to reiterate my point...

________

Guys & gals....

I haven't read all 4 pages of posts--up to this moment--but have scanned several. I hate to pose a rather obvious question that NO one seems willing to address....but has it occured to anyone that perhaps this IS the deal the 'band' has negotiated??? I argue with myself in regards to 'capitalism' and the idea that this IS the 40th Anniversary and the 'band' should have a right to make all the money they can. Yet, I remember the 'battlecry' of years gone by about the "Band of the People". I think that has sadly become a myth.

Quite frankly, I am also upset with the 'gameplan' of selling the public on the idea of "Superstars'' attending .....Clapton, Scaggs, Franklin, BETTS?.....then 10 shows are listed. We've all rushed out and bought tix for the first 10 shows...NOW SOLD OUT!. Now sure as sh*ttn....there will be "Due to Demand--5 more shows ADDED!". Betcha Clapton comes to one of those shows and we who have made plans to travel to NYC from all over the country during the first 10 nites get stuck with the 'bass player from Mott the Hoople" as our 'special guest' on the 21st. I hope I'm wrong but I smell something funky and it ain't Aaron Neville. Then--WOW--we'll have to rush back to our homes and purchase the MOOGIS thing so we'll get to see "CLapton". What a GREAT marketing plan!!!

Nevertheless....I'm coming with a smile on my face to hear some good tunes albeit in the nosebleeds and most importantly hang out with my friends from all over the world. I'll cheer when the 'bass player from Mott the Hoople' is introduced and describe how 'great it was!". But if there' is a '41st year'.....I have a feeling I'm going to be a bit more choosy and remember how it 'used to be'.

Pardon me being a bit cynical....ironically, I'm in 'business' and I know how it works. I've also been accused before of being 'brutally honest'. I hope I'm wrong but I doubt it....


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Great points. Scary. Hope it isn't all true.

 

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  posted on 1/17/2009 at 09:41 AM


On Ebay :

The price $2,860.00 is for 4 tickets in Section: ORCH Row: G..

Wow !

 

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  posted on 1/17/2009 at 10:02 AM
T-master, the Beacon (MSG) and even the band should be ashamed, and are all complicit in this mess. It's absurd that I participated in all three sales (our pre-sale, AMEX and the general sale) and could only get 2 seats together in the back of the orch for a Sat night. Yes, the band has control over this, they do not NEED to feed T-master/MSG and could opt for another venue instead of the venerable Beacon. We would all live, and be happy, with Nokia, or United, and the real fans would all be there. Hopefully the band will have more than two or three rehearsals and reward the fans for all this nonsense.
As an aside, T-master should be investigated to determine how their affiliate got all these tickets immediately following the general sale.

 

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  posted on 1/17/2009 at 10:29 AM
Good Post Macon.....

If there is a "41st at the Beacon", bet there will be 6 or 7 shows. They are killing the 'goose that laid the golden egg'. As I've implied, you know....I'm not ANGRY. Just sorta sad that we've all been snookered. Many are just figuring it out. Hate to inject a political analogy into this, but tho't the guys supported Obama....not George Bush.

 

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A Peach Supreme



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  posted on 1/17/2009 at 11:16 AM
this is truly some kind of scam by TM. i have been very lucky to score good seats for almost any show at a general sale. i have a fast internet provider and have it down pretty good as i am sure many other also have. this was the first time i can remember being shut out completely so something was wrong. lets face it the ABB is not as popular as clapton, U-2, Bruce, Billy Joel etc. I have always gotten tix to their shows. Perhaps the future is upon us and as scalping has become legalized everywhere and the Stubhubs and Ebays have gotten acceptance, this is where we now stand.

I for one never have and never will but an inflated ticket to any event, nor will i scalp a ticket above what I paid. I am willing to pay the face amount if I want to see a show, even if that face amount is very high (the Stones, McCartney etc), but it is against my principles to pay more. Fortunately I have seen many great shows and events and hope to see many more.

Getting ripped off and making slimy creatures wealthier than they already are is not my bag and never will be. I was lucky to score 2 good seats to a show during the presale and shut out in general sale. I will enjoy my one show unless others are added.

 

A Peach Supreme



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  posted on 1/17/2009 at 12:01 PM
I got tickets for 3/19, 3/20, and 3/21 during the pre-sale. Why didn't everyone do this? Or was I just lucky?
 
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