Live Nation said today that its US$100 million investment in Ticketmaster's ticketing technology will reap "substantial" results over the next three years. The company believed that market share gains in secondary ticketing will overpower automated ticket 'bots'.
Chief Operating Officer of Live Nation Joe Bechtold said that Live Nation will be performing a "re-platforming" of Ticketmaster. The reason behind the change in structure is "to move it forward from its 1980s technology that it had when we did the merger in 2010" said Berchtold in a statement today in London.
The company received approval in the United States to merge with Ticketmaster in January 2010. The merger prompted Ticketmaster to become Live Nation's official ticketing partner.
The COO also told the press that Live Nation will be cutting back on costs by an automation of Ticketmaster's processes. This is part of the company's 'fan-friendly' strategy which Live Nation will emply, said Berchtold.
Part of this new strategy will be an app-based digital system where customers can share or resell their purchased tickets.
Join the Conversation