Amazon Wants to Sell Tickets to Your Next Concert, Sporting Event

Amazon Wants to Sell Tickets to Your Next Concert, Sporting Event

As part of these discussions, Amazon is looking into partnerships with US venues in order to directly sell tickets to consumers. The commerce giant has eyed the space, which is largely dominated by Live Nation's Ticketmaster in the US, and found it a space for plenty of potential opportunity, according to the outlet's sources. As Reuters notes, discussions with Ticketmaster and venues have reportedly stalled over customer data concerns.

Live Nation's shares, which had been up more than 12 percent earlier on Thursday after the company's quarterly results, pared gains following the Reuters report and briefly turned negative.

Especially within the concert and events market, Amazon could have substantial room to challenge competitors like Ticketmaster, which have generally suffered from a less-than-stellar reputation among buyers who dislike service charges and other common fees.

Four sources told the Reuters news agency that Amazon was in talks to offer event ticketing in America, seeing the market as ripe for a new entrant.

Live Nation, which owns Ticketmaster, declined to comment on the news and Amazon failed to return a request for comment. In just the past few months, reports of Amazon getting into real estate, meal kit delivery, and other verticals have sent shares of companies like Zillow and Blue Apron down.

More news: How major United States stock market indexes fared Wednesday

Ticketing would likely make money for Amazon, which has a patchy record of profitability.

"If you love seeing live shows, and are interested in creating the industry's best ticket purchasing experience, then join us, and help bring better live entertainment to the world", one job posting reads.

Where Amazon might have difficulty moving forward in this potential endeavor is around 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. "The reason they are spending multiple billions of dollars a year on programming is to get more Prime subscribers and engage more consumers".

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