>> Amazon, a company that's built its business on disrupting major industries, is now setting its sights on the lucrative ticketing business. Four sources telling Reuters, exclusively, that the e-commerce juggernaut is in talks with US venue owners to partner up on selling tickets online for concerts and sporting events across the country.
Reuters correspondent Jessica Toonkel broke the story.>> It could be pretty bad for Ticketmaster. I mean, up until now, Ticketmaster is the 800-pound gorilla in the ticketing space in the United States. Most venue owners have exclusive arrangements with Ticketmaster. So, now, Amazon is going to everyone saying, we wanna partner with you.
We wanna be the person selling your tickets. Toonkel says special access to tickets could be another means to lure more customers to its subscription service, Amazon Prime.>> Amazon sees a huge opportunity here, cuz, on one hand, you have a lot of venue operators that are not thrilled with Ticketmaster, don't like their interface, don't like the way that they can't cross-sell their merchandise.
And then, on the other hand, you have customers that are sick of paying fees to buy tickets to the concerts and shows that they want to attend. So if Amazon can go in there and satisfy both those markets, then that's a win-win. Amazon has had conversations to partner with Ticketmaster as a potential way to get into ticketing in the US, but sources tell Toonkel that those conversations stalled over who would control customer data.
Now Amazon appears to be going it alone, but getting a foothold in the ticketing business would likely be an expensive proposition. Ticketmaster, in many cases, pays the venues for the right to sell tickets and manage the box office, and the venue owners are loathe to give up that revenue.