Ticket Master

Who Owns Ticket Master

Top Takeaways

• Ticketmaster is a dominant player in the ticketing industry, under the ownership of Live Nation Entertainment.
  • Legal issues and controversies have surrounded this company, particularly concerning its merger and alleged monopoly practices.
  • Understanding the structure and nuances of Ticketmaster’s ownership can help consumers navigate ticket purchasing with a better grasp of industry dynamics.

Table of Contents

• Introduction
• History of Ticketmaster
• Current Ownership
• Controversies and Legal Challenges
• Impact on Consumers
• FAQ

Introduction

Ticketmaster is a household name when it comes to purchasing tickets for concerts, sports events, and other live performances. It’s essential to explore who owns Ticketmaster to understand its influence on the ticketing market and the broader entertainment industry.

History of Ticketmaster

Ticketmaster was founded in 1976 by Peter Gadwa, Albert Leffler, and Gordon Gunn. The company quickly grew, revolutionizing ticket sales by offering computerized ticketing services. Here’s a brief timeline of significant events:

• 1976: Ticketmaster was established in Arizona.
• 1981: It moved its headquarters to Los Angeles.
• 1991: The company became the exclusive ticketing agent for The Walt Disney Company’s theme parks and properties.
• 2009: Merged with ticketing rival Live Nation to form Live Nation Entertainment.

Current Ownership

Ticketmaster is currently owned by Live Nation Entertainment, a merger that was finalized in 2010. This merge was a significant event in the entertainment industry, combining the world’s largest concert promoter with the leading ticketing platform.

• Live Nation Entertainment: Formed from the merger of Live Nation and Ticketmaster.
• Key Figures:
  • CEO: Michael Rapino
  • Chairman: Greg Maffei
• Market Reach:
  • Operations in over 40 countries
  • Manages more than 500 million tickets annually

For an in-depth examination of Live Nation’s overall structure, check out Who Owns Live Nation Entertainment.

Controversies and Legal Challenges

The merger and subsequent operations of Ticketmaster under Live Nation have been met with significant legal scrutiny and controversy.

• 2009 Merger: Critics argued that the merger would create a monopoly, limiting competition and potentially raising prices.
• Antitrust Lawsuits: Various legal battles have ensued, with stakeholders accusing the company of using its market dominance to unfairly disadvantage competitors.

For more information on this, refer to Ticketmaster’s ownership details.

Impact on Consumers

The monopolistic position of Ticketmaster has both positive and negative impacts on consumers.

• Advantages:
  • Wide range of events available in one place.
  • Reliable and secure ticket purchasing options.
• Disadvantages:
  • Higher service fees and ticket prices.
  • Limited competition leading to fewer alternatives for consumers.

For consumer insights, visit external resources such as Consumer Reports and The Guardian.

FAQ

1. Who originally founded Ticketmaster?
– Ticketmaster was founded by Peter Gadwa, Albert Leffler, and Gordon Gunn in 1976.

2. When did Ticketmaster merge with Live Nation?
– The merger between Ticketmaster and Live Nation was finalized in 2010.

3. What is Live Nation Entertainment?
– Live Nation Entertainment is the parent company formed from the merger of Live Nation and Ticketmaster, now a giant in the ticketing and concert promotion industry.

4. What are the main criticisms of Ticketmaster?
– Ticketmaster has been criticized for high service fees, monopolistic practices, and its significant influence in the ticketing market, which limits competition.

5. How can consumers benefit from using Ticketmaster?
– Consumers can benefit from a vast selection of events and the reliability of purchasing from a well-established and secure platform.

6. Where is Ticketmaster headquartered?
– Ticketmaster’s headquarters are in Beverly Hills, California.

7. Are there legal implications associated with Ticketmaster’s practices?
– Yes, Ticketmaster has faced numerous legal challenges and antitrust lawsuits related to its market practices and merger with Live Nation.

By understanding who owns Ticketmaster and the complexities of its operations, consumers can make more informed decisions when purchasing tickets for their favorite events. For further exploration of ownership in various industries, check out Who Owns.