Like similar solutions in the UK and Europe, Ticketek Marketplace will cap prices at +10% of face value and give fans "a secondary ticket marketplace they can trust"
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The deal will bolster TEG's credentials as a Live Nation Australia rival by bringing Dainty Group, Ticketek and TEG Live under one roof
By Jon Chapple on 04 Jul 2016
Paul Dainty, one of Australia’s most accomplished concert promoters, has sold his Dainty Group business to Sydney-based ticketing, touring and data analytics firm TEG for an undisclosed sum.
In a statement, TEG – formerly Nine Live – says the deal will combine Dainty’s “history and unparalleled experience in bringing some of the world’s biggest acts and productions to Australia” and TEG’s “superior capabilities in ticketing and promotion” to “offer fans and stakeholders access to the best and most compelling music, sporting and entertainment events in Australia”.
TEG is the parent company of Ticketek, Australasia’s largest entertainment and sports ticket agency, self-service platform Eventopia, promotion business TEG Live and data firm TEG Analytics, and also owns the AEG Ogden-operated 21,000-capacity Sydney SuperDome arena (recently rebranded as the Qudos Bank Arena). Ticketek claims to sell over 23 million tickets more than 20,000 events a year.
“Joining the TEG group is a great opportunity for us to be part of a fully integrated entertainment and touring business,” says British-born executive chairman Dainty. “Over the last 40 years we have had the opportunity to bring some of the world’s biggest names to Australia – Eminem, Hugh Jackman, The Rolling Stones, Prince, Bon Jovi, Michael Bublé, Katy Perry, Paul McCartney, Neil Diamond, Oprah, Lionel Richie, George Michael, WWE and Billy Crystal to name a few – plus a range of theatrical productions such as Jersey Boys and Singin’ in the Rain. We look forward to building on this list and continuing our ongoing artist relationships as part of the TEG group.”
“We are very excited about the potential for TEG-Dainty, and TEG as a whole, now that we have one of the world’s leading promoters at the heart of our business”
The merger creates an integrated live entertainment business (a “one-stop shop”, says TEG) to rival Live Nation Australia, formed in 2012 when Live Nation snapped up formerly independent promoter Michael Coppel Presents.
“Bringing the Dainty Group team into the TEG family is the culmination of a very considered process that was focussed on harnessing the best of both companies under the TEG-Dainty banner,” says TEG CEO Geoff Jones. “Paul Dainty has been recognised globally by peers as both influential and innovative in the live entertainment space. We are very excited about the potential for TEG-Dainty, and TEG as a whole, now that we have one of the world’s leading promoters at the heart of our business.”
Paul Cashmere of Noise11.com reports that TEG-Dainty was at one point in the running to take over Soundwave but was “scared off when [it] saw the books”.
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