Source AP ©

Ticketmaster loses gateway to the world of live sports and music events

Ticketmaster, the world's leading ticketing company, no longer controls the gateway to the world of live sports and music events, and more change is coming.

In December, concert promoter Live Nation, Ticketmaster's biggest client, said it would begin selling its own tickets in 2009. Live Nation accounted for about 15% of West Hollywood, Calif.-based Ticketmaster's roughly $1 billion in revenue in 2006, the AP reports.

Ticketmaster is a ticket sales and distribution company based in West Hollywood, California, USA, with operations in many countries around the world. Typically, Ticketmaster's clients their events, and Ticketmaster simply acts as an agent, selling the tickets that the clients make available to them.

One of the first ticketing companies to sell tickets on the Internet, Ticketmaster now sells a large percentage of its tickets online, some via phone, and a percentage through its many ticket outlets.

Live Nation is a live events company based in Beverly Hills, California, United States. Live Nation formed in 2005 by a spin-off from Clear Channel Communications. The present CEO of the company is Michael Rapino.

In 2005, Live Nation promoted or produced over 28,500 events, including music concerts, theatrical shows, specialized motor sports and other events, with total attendance exceeding 61 million. As of September 30, 2005, Live Nation owned or operated 117 venues, consisting of 75 US and 42 international venues. These venues include 39 amphitheaters, 58 theaters, 14 clubs, four arenas and two festival sites. In addition, through equity, booking or similar arrangements Live Nation has the right to book events at 33 additional venues.

In October, 2007 Live Nation announced a new contract with pop singer Madonna. She will be the founding recording artist for the new music division Artist Nation.

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