Ticket exchange

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A ticket exchange is a market where tickets are bought and sold.

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Secondary market

Ticket exchanges allow people to buy and sell tickets online. For example, an individual who purchased tickets to a concert may find that they can no longer go and hence sell their tickets on a ticket exchange. 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 industry. Secondary markets today are predominantly online. There are two types of ticket exchanges, also called secondary marketplaces - for event tickets and for travel reservations.

Ticket exchange in events

Event ticket exchanges are predominantly dominated by four big players - StubHub, Viagogo, Seatwave and GetMeIn. Among these big online ticket marketplaces, smaller players are emerging offering slightly different services, like marketplaces which limit the price of the tickets to the current live price. The event ticket exchanges have suffered significant criticism in recent years for enabling 'armchair' touts. [1] These are small groups of people who purchase a large number of event tickets before fans are able to purchase them for themselves. These groups then sell these tickets on the ticket exchanges for a significantly higher price.

Ticket exchange in air travel

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 [2] . These airlines always charge a fee for this service. The resale of airline tickets depends only on the rules of the airline and not on the country of the seller.

Ticket exchanges for travel reservations also facilitate the resale of hotel rooms and package holidays, such as SpareFare.net.

See also

Notes


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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.

Travel agency private retailer or public service that provides tourism related services to the public

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Secondary market Type of market in finance

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Ticket resale act of reselling tickets for admission to events

Ticket resale is the act of reselling tickets for admission to events. Tickets are bought from licensed sellers and are 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.

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Viagogo is a London-based ticket exchange and resale company. It was founded in 2006 by Eric Baker, who was the co-founder of the similar U.S.-based service StubHub.

Global distribution system

A global distribution system (GDS) is a computerised network system owned or operated by a company that enables transactions between travel industry service providers, mainly airlines, hotels, car rental companies, and travel agencies. The GDS mainly uses real-time inventory to service providers. Travel agencies traditionally relied on GDS for services, products and rates in order to provide travel-related services to the end consumers. Thus, a GDS can link services, rates and bookings consolidating products and services across all three travel sectors: i.e., airline reservations, hotel reservations, car rentals.

Ticket (admission) paper or cardboard document showing payment for access to an event or service

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.

Airline ticket entrance ticket

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.

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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.

Jetcost is a travel website, whose metasearch engine allows users to browse and compare rates and availability for flights, hotels and car hire.

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.