ILMC 30 SL
eps Super Leaderboard 2017
LN Source SL
Ticketmaster ILMC 30 SL
x

The latest industry news to your inbox.

news

World’s largest etailer to launch live ticket biz

Has Alibaba Group, the $14bn Chinese ecommerce giant, just out-Amazoned Amazon with the launch of event ticketing operation Tao Piao Piao?

By Jon Chapple on 18 May 2016

Jack Ma, Alibaba Group, бизнес и мотивация

Alibaba Group CEO Jack Ma


image © Бизнес и Мотивация

Alibaba Group, the world’s largest ecommerce company, is moving into concert ticket sales with the expansion of its US$2 billion Alibaba Pictures ticketing business.

Taobao Dianying, Alibaba Pictures’ film-ticketing subsidiary, has been rebranded ‘Tao Piao Piao’ (roughly “hunting for tickets”) and has partnered with China’s largest entertainment ticket seller, Damai.cn, to allow Damai customers to purchase tickets through its Tao Piao Piao and Alipay mobile apps.

The news comes on the back of Alibaba Pictures raising CN¥1.7 billion ($260 million) in series-A financing, which, according to a Hong Kong Stock Exchange filing on Sunday, values the company at over ¥13.7bn ($2.09bn).

In June 2015 it sold $1.57bn worth of shares to fund its expansion into new sectors (although investors were actually buying shares in a Caymanian shell corporation, as the PRC forbids foreign ownership of Chinese companies).

The entry of Alibaba into the concert ticketing market comes amid the launch of similar ventures by fellow tech giants Amazon, Facebook and Sky

Alibaba Pictures handles ticketing for more than 5,000 cinemas in China – 95% of the country’s total box office – according to Alibaba-backed news site Alizila, with daily ticket sales peaking at around three million on the best day, up a hundredfold (from 30,000) on just over a year ago.

The entry of Alibaba, which has a market capitalisation of over $196bn and offices in China, Hong Kong, Taiwan, the US, the UK and India, into the concert ticketing market comes amid the launch of similar ventures by fellow ecommerce giant Amazon, Rupert Murdoch-owned broadcaster Sky and social network Facebook (which has partnered with Ticketmaster and Eventbrite to allow tickets to be sold via its web and mobile platforms).

According to research company IBISWorld, the worldwide market for online ticketing for live events is worth over $4bn and experienced average annual growth of 3.4% from 2010 to 2015. Juniper Research estimates, meanwhile, that 23 billion live event and transport tickets will be sold globally using mobile apps by 2020.

Live Nation revealed in its financial results for the first quarter of 2016 that market leader Ticketmaster sold over 17 million tickets globally in February – its most-ever in a single month.

More news

Alibaba ent. investment continues with new booking... Alibaba Pictures will soon have a talent agency and "variety show" production company to complement its artist management and ticketing businesses,...new filings reveal
Alibaba kicks live plans into gear with Damai buy The world's largest retailer, whose revenues dwarf Walmart, Amazon and eBay combined, has kickstarted its bid for ticketing domination by buying...market leader Damai.cn
Alibaba swoops for TicketNew The Chinese e-commerce giant is rumoured to be making a play for Madras-based TicketNew, potentially heralding a sea change in the Indian primary...ticketing market
Tao Piao Piao exec held on bribery charges Kong Qi, GM of Alibaba Pictures' fledgling event ticketing business, has been arrested on suspicion of accepting millions of yuan in bribes
Alibaba to launch artist management operation The company, a joint venture between Alibaba Pictures (Tao Piao Piao) and 'China's YouTube', Youku, will chiefly provide talent for the two companies'...video output