TicketNetwork

Last updated
TicketNetwork
Private
Industry Live Entertainment
Founded2002
Headquarters,
USA
Key people
Don Vaccaro (CEO)
ProductsTicket technology, ticket exchange
Website www.ticketnetwork.com

TicketNetwork is an online marketplace that provides an outlet for buyers and sellers of tickets to live entertainment events. The company was founded in 2002 by ticket broker Don Vaccaro and software developer Doug Kruse. [1] It operates several retail sites and partners with large name brand travel and media companies.

Contents

In 2015, TicketNetwork signed an exclusive agreement with ATBS to provide Private Label Websites to their Private Label Affiliates. [2]

Operations

TicketNetwork operates under a model similar to eBay, where tickets are listed on the company's marketplace, but transactions are handled by the individual seller. Buyers are charged a service fee for tickets purchased, plus a delivery fee, depending on the method of delivery, location, and time until the event. [3] Once the tickets are available, the seller ships them directly to the buyer. Sellers are able to list and manage tickets on the marketplace via the TicketNetwork Point of Sale software.

Properties

TicketNetwork operates several retail websites such as TicketNetwork.com and TicketLiquidator.com. It also sponsors an annual trade show called Ticket Summit, which attracts resellers and other ticket industry figures. [4] Additionally, the company operates the Better Ticketing Association, a website containing information and resources for the ticket resale industry. TicketNetwork also sells the tickets uploaded to their marketplace with their Private Label Program which has created controversy. [5]

Green Initiative

TicketNetwork's campus features several amenities tied to the company's "Green Initiative." A community garden covers substantial acreage of the company headquarters campus in Connecticut. It produces fruit, vegetables, and herbs that are regularly made available for staff to take home, as well as being used in the company cafeteria. There is also an animal sanctuary on the campus, which is home to several llamas, goats, gees, chickens, and pigs as of spring 2020. [6]

In the spring of 2019, construction was completed on a 1.4MW solar system on the roof of the headquarters building. [7] The array, which features 4,365 solar panels, is one of the largest of its kind in Connecticut and produces energy offsetting an estimated 68% of the building's electrical use.

Covid-19 Pandemic Response

In the wake of the sudden shutdown of live events during the COVID-19 pandemic, TicketNetwork rapidly enacted cost-cutting measures in order to ensure the company's continued operation through the crisis. Customers holding tickets to cancelled events were given the option of vouchers good towards future event purchases, and senior staff members unanimously agreed to a pay cut, allowing the business to avoid large layoffs despite the precipitous drop-off in sales revenue. [8]

Controversies

The ability for any seller to list tickets at any time has resulted in litigation. In 2009 New Jersey's then-Attorney General Anne Milgram filed a lawsuit against several parties, including TicketNetwork, for allegedly selling and advertising tickets before they were available from the venue. [9] The suit was filed by Milgram following reports that primary seller Ticketmaster redirected customers to its TicketsNow website after Bruce Springsteen tickets sold out on Ticketmaster's main website. The case was dismissed in August 2010 after Judge Patricia K. Costello ruled that under federal law TicketNetwork was not liable for incorrect information about the availability of tickets because it was not the seller. [10]

In July 2011 TicketNetwork received a $4.5 million and $1.8 million loan as part of the State of Connecticut's First Five Program, in exchange for hiring at least 200 people over two years time. TicketNetwork also received a $250,000 grant for the training of engineers. [11] TicketNetwork was removed from this program after its then CEO, Don Vaccaro, was arrested in February 2012 after behaving inappropriately while intoxicated. After completing an accelerated rehabilitation program, the charges were dropped. [12] [13] The National Action Network admitted that they investigated and interviewed the witnesses to the event within 2 months of the incident. All the four witnesses, all African Americans, confirmed that there was no racial slur uttered. [14] After that, they reached out to Vaccaro to help.

In July 2019, TicketNetwork (along with Ticket Galaxy) reached a $1.55M settlement to resolve a lawsuit with the Attorney General of New York for "misleading tens of thousands of customers into purchasing speculative tickets for concerts and other live events". [15] The lawsuit was prompted by a WNBC investigation in October 2018 into issues with sales of Broadway tickets. [16]

See also

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References

  1. Bergman, Becky (March 28, 2011). "At TicketNetwork, the value is in the connection". Hartford Business Journal Online. Retrieved 2011-04-14.
  2. "TicketNetwork Private Label Announces Exclusive Agreement With ATBS". Yahoo Finance. Retrieved 2015-06-17.
  3. Moroz, Yelena. "How to Find Sold-Out Tickets Online". RealSimple Magazine online. Retrieved 2011-04-14.
  4. Sisario, Ben. "Ticket Resellers Step Out of the Shadows". New York Times. Retrieved 2011-10-24.
  5. "TicketNetwork Settles Deceptive Marketing Complaint". New York Times. Retrieved 2014-07-24.
  6. "TicketNetwork Sanctuary Gives Animals Free Passes On New Lives". South Windsor, CT Patch. 2019-10-10. Retrieved 2020-04-11.
  7. "TicketNetwork® Rooftop Solar System, Learn more about TicketNetwork®". corporate.ticketnetwork.com. Retrieved 2020-04-11.
  8. "TicketNetwork Trying To Keep Staffers Despite Plummeting Market". South Windsor, CT Patch. 2020-04-10. Retrieved 2020-04-11.
  9. McGlone, Peggy. "New Jersey Attorney General Anne Milgram sues ticket resellers for tactics with Bruce Springsteen show". New Jersey Star-Ledger. Retrieved 2011-10-24.
  10. "Judge throws out N.J. lawsuit against Bruce Springsteen ticket resellers". New Jersey Star-Ledger. Retrieved 2011-10-24.
  11. Lee, Mara. "TicketNetwork Is Second Company To Claim 'First Five' Incentives". Hartford Courant. Retrieved 2011-12-05.
  12. Kane, Brad. "Vaccaro taking leave from TicketNetwork". Hartford Business Journal. Retrieved 2012-02-28.
  13. Dempsey, Christine (29 May 2012). "Former TicketNetwork CEO Vaccaro Denies Making Slurs". Hartford Courant. Retrieved 26 March 2013.
  14. Steward, Ameera (16 April 2020). "A Ticket to Philanthropy with Don Vaccaro". Carolina Panorama.
  15. Taylor Mims (11 July 2019). "Ticket Resale Companies to Pay $1.55 Million For Selling Tickets They Never Owned". Billboard. Retrieved 11 July 2019.
  16. "I-Team: Ticket Website Settles 'Short Selling' Lawsuit with NY State". NBC New York. 11 July 2019. Retrieved 11 July 2019.