Venue and team owners want specific customer info to help them develop the right approach to marketing to their most lucrative customer demographics, but Reuters says Amazon has been reluctant to share said data in a prospective ticket sales partnership. Amazon has been in discussions about potentially entering the event ticket sales market, according to Reuters.
The possibilities for Amazon Prime members to get exclusive ticket deals feels like a natural move since everything Amazon does is about getting customers to sign up for a Prime account... Shares of Live Nation are up 48% in the year to date, while Amazon shares are up nearly 28% and Ebay shares are up almost 18%.
But Ticketmaster, owned by Live Nation, has a seemingly unbreakable grip on the box office at numerous largest and most popular venues. Would-be challengers have struggled to compete in the face of Ticketmaster's strong relationships with the operators of major USA sports stadiums, arenas, concert halls and other venues.
Amazon has held talks directly with the owners of major venues in the United States about potentially entering the business of ticket sales, according to a report from Reuters.
Neither Amazon nor Live Nation commented to Reuters on the matter. Live Nation's Ticketmaster is the juggernaut in the live event ticketing landscape.
Amazon has offered to write sponsorship checks worth millions of dollars to the venues, one of the sources said.
That figure does not include revenue from reselling tickets, which BTIG estimates at $250m.
Amazon was initially in talks with Ticketmaster regarding a potential partnership in the industry, but they disagreed on the issue of who would control customer data, according to a source. Earlier this year, it agreed to pay about $50 million to the U.S. National Football League to livestream this season's 10 Thursday night games, sources have told Reuters [IDnL2N1HD01B].