Ticketmaster launches new reselling marketplace

Ticketmaster+launches+new+reselling+marketplace

fastcompany.com

Tobi Friedman, Eastside Staff

Ticketmaster’s new market place allows users to safely purchase tickets that are not being sold at face value. The secondary ticket market is valued at 4 billion dollars, which shows that Ticketmaster is a big company in the industry.

Ticketmaster’s first attempt at having a market place failed in 2009 because the website automatically directed users to the market place instead of looking at tickets for face value. These tickets were sold at four times more than the face value price. However, this issue is now resolved with the new reselling marketplace that Ticketmaster has launched.

Secondary ticket selling has been an issue because scalpers usually buy tickets in bulk, and so when they sell the tickets the majority of the money goes back to the scalper. It is not ethically correct for people to buy tickets in bulk, because it hurts the ticket industry.

To reduce the amount of people that buy tickets through StubHub for more than face value, Ticketmaster decided to use paperless tickets in 2012. Paperless ticketing is when the buyer uses his or her credit card as a ticket, which makes sure that the original buyer of the tickets is the one that goes to the event. They did this so tickets could not be exchanged outside of Ticketmaster.

Ticketmaster’s market place has unique features that will help it to do better than StubHub. For example, buyers will be able to see the face value next to the resell price so they will know the difference of price between the ticket that they are buying and the original amount of the ticket. They can also see unsold tickets in the seating area that they are looking to purchase tickets. Also, the marketplace will not allow tickets to be sold under face value. All of these factors make Ticketmaster stronger than StubHub, therefore hurting Stubhub’s business.