A ticket exchange, also known as a secondary ticket outlet, is a market where tickets are bought and sold. Ticket exchanges allow people to buy and sell tickets online. Typically, ticket exchanges are used by individuals wanting to buy or resell tickets from other individuals rather than from the event the ticket is for. Originally, this industry was dominated by street-based touts working outside large events and venues, buying tickets cheaply from people who had spares and selling them on to last-minute buyers. While some street touts may still exist, the advent of the internet has transformed the practice. Secondary markets today are predominantly online. There are two niches of ticket exchanges, also called secondary marketplaces: event tickets and travel reservations.
The event ticket exchange business is predominantly dominated by Viagogo, alongside its long-time rival StubHub which it merged with in 2021. [1] Among these big online ticket marketplaces, smaller companies are emerging offering slightly different servicing. For example, a marketplace that limits the price of the tickets to the current live price. There has been significant criticism of event ticket exchanges in recent years for enabling 'armchair' touts. [2] These are groups of people who purchase a large number of event tickets with the intent to resell them at a mark-up on ticket exchanges before fans are able to purchase them for themselves.
There are online marketplaces where people can offer their transferable flight tickets and hotel reservations for sale. For travellers without travel insurance, it can reduce losses when unable to travel. Flights are transferable if the name on the ticket can be changed. There are over 60 airlines which allow name changes. [3] These airlines always charge a fee for this service. The resale of airline tickets depends on the rules of the airline.
Ticket exchanges for travel reservations also facilitate the resale of hotel rooms and package holidays, such as SpareFare.net.
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Ticketmaster Entertainment, Inc. is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world. In 2010, it merged with Live Nation under the name Live Nation Entertainment.
A travel agency is a private retailer or public service that provides travel and tourism-related services to the general public on behalf of accommodation or travel suppliers to offer different kinds of travelling packages for each destination. Travel agencies can provide outdoor recreation activities, airlines, car rentals, cruise lines, hotels, railways, travel insurance, package tours, insurance, guide books, VIP airport lounge access, arranging logistics for luggage and medical items delivery for travellers upon request, public transport timetables, car rentals, and bureau de change services. Travel agencies can also serve as general sales agents for airlines that do not have offices in a specific region. A travel agency's main function is to act as an agent, selling travel products and services on behalf of a supplier. They are also called Travel Advisors. They do not keep inventory in-hand unless they have pre-booked hotel rooms or cabins on a cruise ship for a group travel event such as a wedding, honeymoon, or other group event.
An electronic ticket is a method of ticket entry, processing, and marketing for companies in the airline, railways and other transport and entertainment industries.
Ticket resale is the act of reselling tickets for admission to events. Tickets are bought from licensed sellers and then sold for a price determined by the individual or company in possession of the tickets. Tickets sold through secondary sources may be sold for less or more than their face value depending on demand, which tends to vary as the event date approaches. When the supply of tickets for a given event available through authorized ticket sellers is depleted, the event is considered "sold out", generally increasing the market value for any tickets on offer through secondary sellers. Ticket resale is common in both sporting and musical events.
A round-the-world ticket is a product that enables travellers to fly around the world for a relatively low price. RTW tickets in the past were generally offered through marketing agreements between airlines on several continents. Now, they are almost universally offered by airline alliances such as SkyTeam, Star Alliance and Oneworld, or by specialist travel agencies that will spend time customizing a trip for the consumer. Prices vary but are generally in the range of 2,500–6,000 USD for an economy class ticket and 5,000–14,000 USD for business class. Sometimes, depending on airline and stops, it can be as low as 1171 GBP. An alternative for a round-the-world ticket is a continent pass.
StubHub is an American ticket exchange and resale company. It provides services for buyers and sellers of tickets for sports, concerts, theater, and other live entertainment events. It is the world's largest ticket marketplace. While the company does not currently disclose its financials, in 2015 it had over 16 million unique visitors and nearly 10 million live events per month.
Viagogo, stylized by the company as viagogo, is a multinational ticket exchange and ticket resale brand. It is headquartered in the United States and owned by StubHub Holdings. It was founded in 2006 by Eric Baker, the co-founder of StubHub.
A ticket is a voucher that indicates that an individual is entitled to admission to an event or establishment such as a theatre, amusement park, or tourist attraction, or has a right to travel on a vehicle, such as with an airline ticket, bus ticket or train ticket. An individual typically pays for a ticket, but it may be free of charge. A ticket may serve simply as proof of entitlement or reservation. A ticket may be valid for any seat or for a specific one.
An airline ticket is a document or electronic record, issued by an airline or a travel agency, that confirms that an individual is entitled to a seat on a flight on an aircraft. The airline ticket may be one of two types: a paper ticket, which comprises coupons or vouchers; and an electronic ticket.
Online ticket brokering is the resale of tickets through a web-based ticket brokering service. Prices on ticket brokering websites are determined by demand, availability, and the ticket reseller. Tickets sold through an online ticket brokering service may or may not be authorized by the official seller. Generally, the majority of trading on ticket brokering websites concerns itself with tickets to live entertainment events whereby the primary officially licensed seller's supply has been exhausted and the event has been declared "sold-out". This "sold-out" status increases the ticket's potential market value. Critics of the industry compare the resale of tickets online to ‘ticket touting’, ‘scalping’ or a variety of other terms for the unofficial sale of tickets directly outside the venue of an event.
Until 27 November 2018 Seatwave was an online ticket marketplace for buying and selling tickets to music, sporting and cultural events. Ticket sellers were able to list their tickets on Seatwave and specified what price they would be willing to sell them for. Buyers could browse the site, compare ticket prices and could then purchase the ticket they feel was the best deal. Seatwave's TicketIntegrity guarantee ensured buyers got the tickets they ordered by the day of the event. If they did not, Seatwave would find replacement tickets, or refund the buyer.
TicketsNow was an online ticket retailer. It was founded in 1992 by Mike Domek and headquartered in Woodstock, Illinois.
Trip.com Group Limited is a Chinese multinational online travel company that provides services including accommodation reservation, transportation ticketing, packaged tours and corporate travel management. Founded in 1999, the company owns and operates Trip.com, Skyscanner, Qunar, Travix, and Ctrip, all of which are online travel agencies.
12-12-12: The Concert for Sandy Relief was a benefit concert that took place at Madison Square Garden in New York City on December 12, 2012.
Stuart Galbraith is a British live music event promoter. He is the founder of Kilimanjaro Live Group, one of the United Kingdom's largest event promoters.
Chris Tsakalakis is a Greek-American technology executive, advisor and board member. He is currently the Managing Partner of Trefo, a boutique consulting firm focused on helping technology companies. Previously, Tsakalakis was the CEO of Kiva, an international nonprofit that crowdfunds loans for underserved people in over 70 countries. Tsakalakis previously served as the Chief Executive Officer of Vivino, an Entrepreneur in Residence at Benchmark Capital, the President of StubHub, an executive at eBay and a consultant at Bain & Company. He is a graduate of the University of Pennsylvania.
Ticketbis is an online platform where users can buy and sell tickets to events. Founded in Spain in 2009 by Ander Michelena and Jon Uriarte, the company operates under the secondary ticketing market alongside several others including industry giant StubHub. Ticketbis is currently present in 31 countries.
Eric H. Baker is an American businessman, the founder and CEO of Viagogo, and co-founder of StubHub.
The Better Online Ticket Sales Act of 2016 was signed into federal law by President Barack Obama on December 14, 2016. This act was created to thwart attempts by individuals and organization to automate the process of purchasing tickets en masse using ticket bots. Later, these tickets are often resold on third-party sites for profit at a markup over face value, or at a loss. This activity is also referred to as ticket scalping. The BOTS Act outlawed the resale of tickets purchased using bot technology and set a fine of $16,000 for violations of the act, which is enforced by the U.S. Federal Trade Commission.
CashorTrade is a fan-to-fan face-value ticket-reselling market created in 2009 by brothers Brando and Dusty Rich based in Burlington, Vermont. As of November 2017, the platform had users from 20 countries and had processed over half a million transactions. The platform offers an optional gold membership which provides early notice of available tickets for an annual fee.