Blockbuster To Sell Live Nation Tickets
December 2, 2008 at 5:18 AM (PT)
Concert promoter LIVE NATION has struck a deal to sell tickets through select BLOCKBUSTER retail locations nationwide, reports PETER LAURIA in THE NEW YORK POST. The deal comes as LIVE NATION prepares to end its relationship with TICKETMASTER in favor of launching its own ticketing business next year. The roughly 500 BLOCKBUSTER stores where tickets to LIVE NATION concerts can now be purchased replaces physical retail outlets such as MACY'S, KROGER, WHEREHOUSE and others used by TICKETMASTER.
LIVE NATION has said it expects to sell around 13 million tickets by 2010. While more than 90% of those sales will occur online, the concert promoter said it sells about a million tickets per year, or roughly 8% of its total ticket sales, through independent retail outlets.
Terms of the three-year deal call for BLOCKBUSTER to collect what a source described as a "nominal fee" for each ticket sold.
According to BLOCKBUSTER CEO JIM KEYES, the deal "reinforces the continued relevance" of BLOCKBUSTER's brick-and-mortar stores.