Ticketek to launch price-capped ticket exchange
TEG, the parent company of leading Australasian ticket agency Ticketek, has announced the launch of Ticketek Marketplace, a price-capped ticket exchange for Australian consumers.
Ticketek Marketplace, set to go live later this month, will serve as an online portal to resell tickets previously purchased from Ticketek, with a single Ticketek user ID and login applying across both it and Ticketek’s primary platform.
The Ticketek announcement follows the launch of several similar solutions by its European cousins, including See Tickets’ Fan-to-Fan, CTS Eventim’s FanSALE, AXS’s Marketplace and, most recently, Ticketmaster’s upcoming replacement for Get Me In! and Seatwave.
Like FanSALE and AXS Marketplace, Ticketek Marketplace will cap resale prices at a maximum of 10% above face value.
“Many sports and entertainment fans have fallen victim of resale scalping practices based on highly inflated ticket prices, misleading marketing, a lack of transparency and often outright fraud,” says TEG CEO Geoff Jones (pictured).
“The launch of Ticketek Marketplace is another important step in protecting fans and ensuring the integrity of ticket transactions”
“TEG believes that fans want a secondary ticket marketplace they can trust, where the authenticity of tickets is guaranteed and where the prices are fair. Ticketek Marketplace delivers these requirements to fans.
“The launch of Ticketek Marketplace is another important step in protecting fans and ensuring the integrity of ticket transactions.”
According to the International Ticketing Yearbook 2018, Ticketek is, with Ticketmaster Australia, one of the ‘big two’ primary ticketing platforms in Australasia. TEG also owns promoters TEG Live and TEG Dainty, Qudos Bank Arena in Sydney and data firm TEG Analytics.
“We are delighted to offer a service for all events and fans through the launch of Ticketek Marketplace,” comments Ticketek Australia MD Cameron Hoy. “This is a consumer-led, price-capped and ethical ticket exchange service for fans with a genuine need to buy or sell on the secondary market.
“Over several years Ticketek has worked with industry bodies, venue partners, promoters and governments to educate fans about the dangers of resale scalpers. We commend the steps taken by state governments to legislate against these unscrupulous operators.”
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Vivendi takes on Twickets after strong 2016
Vivendi grew income from ticketing by nearly 12% in 2016, increasing revenues to €52 million in a strong year for its three ticketing businesses.
Vivendi Ticketing – a division, comprising See Tickets (UK), See Tickets US and France’s Digitick, of the French conglomerate’s Vivendi Village subsidiary – saw a “significant” improvement in income from operations, increasing 11.8% on 2015.
Vivendi Village, which also incorporates live event producer Vivendi Talents&Live and Vivendi’s music venues, including the Olympia in Paris and four new venues in Africa, grew turnover 10.9% – although its income fell from +€10m to -€7m, negatively affected by the €4m acquisition of Flavorus from SFX and the launch of original mobile video platform Studio+.
Following Vivendi Ticketing CEO Rob Wilmshurst’s appearance at last week’s UK ticket abuse inquiry, the company has also announced the launch of Fan2Fan, its first ticket resale platform.
“It is time to build trust and pricing certainty into the secondary market”
Described as a “legitimate, price-controlled […] system for fans”, Fan2Fan is an ‘ethical’ ticket exchange in the mould of Twickets, Vibe Tickets and Scarlet Mist. It will enable those with unwanted tickets to shows listed on See Tickets UK to resell them for no more than 5% of the original price.
“It is time to build trust and pricing certainty into the secondary market,” comments Wilmshurst. “The Fan2Fan platform is being developed with the support of the artist community, and it will make the market fairer and more ethical. I’m optimistic that our regulated platform for reselling and buying tickets will have a positive effect on the entertainment ticketing industry.”
FanFair Alliance’s Adam Webb adds: “Fan2Fan is a welcome addition to the market. See Tickets is a supporter of the FanFair Alliance, and this is yet another example of a ticketing company demonstrating leadership by promoting face value exchange instead of resale profiteering.”