DTI says ticket marketplace Vivid has contacted more than 80 of its clients in a bid to make them abandon its inventory-management platform.
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The ticket distributor has severed ties with the "bullying" secondary site – but secured new lower fees from StubHub and TicketNetwork
By IQ on 28 Nov 2016
DTI Management has pulled its entire ticket inventory from Vivid Seats following last week’s public spat between the two companies.
In a letter to its customers, DTI – an inventory management/distribution platform for ticket resellers – apologised for the “sudden removal of your inventory”, but revealed it has negotiated lower fees for tickets listed on two other resale sites, which CEO Curtis Cheng says should “not only make up for any lost sales momentum [from cutting ties with Vivid Seats], but allow it to increase”.
Fees for DTI clients selling on StubHub are now 2% – well below the site’s standard 10% rate – and 4% on TicketNetwork.
“Rest assured this inconvenience was not in vain”
“Rest assured that this inconvenience was not in vain,” wrote Cheng (pictured) in the letter, seen by Amplify, “as it has allowed for DTI to work with our portfolio of marketplaces to make many positive and rapidly evolving changes that we believe will not only make up for any lost sales momentum but allow it to increase.”
CVC Capital Partners, the London-based private-equity firm which in September agreed to sell its controlling interest in Formula 1 to Liberty Media Group, recently invested $75m in DTI, which it hopes to turn into “the global leader in live entertainment ticket distribution”.
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