Amazon is seeking to partner with U.S. venue owners to sell event tickets, sources told Reuters, a move that could loosen Ticketmaster's powerful grip on the lucrative ticketing business. Fred Katayama reports.
Reuters has learned Amazon is looking to partner with U.S. venue owners to sell event tickets. The e-commerce giant is offering millions of dollars in sponsorship money. Amazon has also approached at least one league about selling tickets on the secondary market that includes players like eBay's StubHub. Reuters correspondent Jessica Toonkel covers the story for Reuters: (SOUNDBITE) JESSICA TOONKEL, CORRESPONDENT, REUTERS (ENGLISH) SAYING: "For Amazon, it's all about Amazon Prime. Amazon Prime is their subscription service for free shipping, you know, they want to attract more customers to Amazon Prime and then sell more things to Amazon Prime customers. So, if you can say to your Amazon Prime customers 'hey, you'll get the first take at these tickets,' that's a great driver to get these people to the service." Currently Ticketmaster is the exclusive seller of primary tickets for many top venues in the United States. It made $1.6 billion in revenue in 2016, according to estimates by research firm BTIG. A move by Amazon could loosen Ticketmaster's grip on the ticketing business.