Amazon is looking to expand its $424 billion retail empire by selling tickets to events in its megastore in the US, reports Reuters.
Amazon is looking to expand its retail empire by selling tickets to events in its megastore in the US, reports Reuters. That could be huge for the $424 billion company, and a huge blow to longstanding incumbent Ticketmaster. reports Reuters
The venture would include passes to entertainment and sporting events, and the company is said to be interested in reselling tickets on the secondary market – à la StubHub – as well. Amazon is keen enough on the idea that it’s considering spending millions of dollars in sponsorship that it’ d pay to venues.
The retail giant has previously sold tickets to shows in London’s West End theater district. There’s definitely money to be made selling tickets in the US – last year, Ticketmaster brought in $1.6 billion in revenue from initial ticket sales.
Reuters’ sources say that the expansion is all about serving Amazon’s Prime subscribers, who pay a premium for free and fast shipping, as well as access to streaming entertainment services. The company presently has 85 million Prime customers in the US alone, and being able to offer them tickets could translate into big bucks. 85 million Prime customers in the US alone
Amazon had reportedly talked with Ticketmaster about teaming up to sell passes, but those discussions stalled over the issue of who would be in control of customer data. If the two firms can’ t make things work, Amazon will have to tackle the enormously difficult task of negotiating deals and building relationships with venue owners – something Ticketmaster has mastered over a long period of time.
If it succeeds, Amazon could additionally sell merchandise alongside event tickets. But unless it manages to strike a deal with Ticketmaster, it could be a long while before people can buy tickets to shows along with their household essentials on the platform. Amazon World
Sit back and let the hottest tech news come to you by the magic of electronic mail.
Prefer to get the news as it happens? Follow us on social media.
1.76M followers
1M likes
Got two minutes to spare? We’d love to know a bit more about our readers. Start! Start!
All data collected in the survey is anonymous.
