The NC ticketing services firm has followed up its purchase of ExtremeTix and TicketBiscuit with the acquisition of software developer Interactive Ticketing
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On Location Experiences has bought Qcue, a software developer that helps right holders optimise ticket pricing based on market demand
By IQ on 28 Jul 2021
WME parent company Endeavor has acquired Qcue, a software developer for dynamic ticket pricing in the live events industry.
Terms of the deal, which was made through Endeavor’s experiential events firm On Location Experiences (acquired in early 2020), have not been disclosed.
According to The Hollywood Reporter, Qcue’s technology, which helps rights holders optimise ticket pricing and maximise sales based on market demand, will be integrated into On Location’s suite of hospitality offerings.
On Location offers corporate clients and others fans access to marquee events like the Olympic and Paralympic Games, Super Bowl, NCAA Final Four and New York Fashion Week. Its overall list of 150 entities also includes artists and festivals, such as Coachella and Bonnaroo, as well as unique experiences owned by On Location.
Qcue, founded in 2007, provides sports teams and entertainment outfits with ticket pricing, analytics, data visualisation, inventory management and efficiency tools.
“[The deal will bring] top-of-the-line dynamic pricing technology and a stellar team of ticketing experts in-house”
Its clients include Major League Baseball teams, college athletic departments and Australian Football League teams. The company will continue to operate out of its headquarters in Austin after the deal has closed.
In announcing the deal, On Location estimated that Qcue has made more than 35 million price changes, generating more than $300 million in incremental revenue for its partners.
“We are thrilled to join forces with Qcue, bringing top-of-the-line dynamic pricing technology and a stellar team of ticketing experts in-house,” On Location CFO Jon Lavallee said in a press release. “Together, we will optimise On Location’s approach to ticketing and pass that benefit on to our valued partners.”
Along with On Location, Endeavor also owns the IMG sports agency and the Ultimate Fighting Championship (UFC).
The company posted a small profit of US$2.4 million in the first quarter of 2021 – the firm’s first since becoming a public company in April.
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