Live Nation Acquires France's Ticketnet
November 9, 2010 at 10:26 AM (PT)
LIVE NATION ENTERTAINMENT has acquired TICKETNET, the second largest ticket retailer in FRANCE. By combining these assets, LIVE NATION will strengthen its ability to serve major clients and venues across FRANCE, while opening up significant partnership opportunities.
TICKETNET retails 6.6 million tickets annually for more than 40,000 events each year with a team of 100 employees. TICKETNET provides a real-time ticketing platform serving venues and event promoters via the Internet, 750 retail sales points, call centers, WAP and many of FRANCE’s workers councils. TICKETNET will continue to be led by Managing Dir. FRANÇOIS THOMINET.
"This is a significant acquisition that will allow LIVE NATION to strengthen and expand its presence in a €4 billion ticketing market that has been growing 5% annually," LIVE NATION Pres./CEO MICHAEL RAPINO said. "TICKETNET will accelerate our development in the 5th largest music market in the world, and the combination of our existing concert business and TICKETNET will enable us to provide an enhanced service to the clients of both businesses."
"We are pleased to announce the completion of this transaction and to continue LIVE NATION’s growth and expansion within EUROPE," LIVE NATION INTERNATIONAL CEO ALAN RIDGEWAY said. "I’m delighted that FRANÇOIS THOMINET is staying with the company and will be continuing the great work that he has already done to establish TICKETNET as a market-leading full service ticket retailer and distributor in FRANCE. Through TICKETNET, LIVE NATION intends to further develop its commercial relationships with all the constituents of the French entertainment market: venues, producers and local promoters."
"We are excited about the opportunity to see TICKETNET continue to grow in the FRENCH marketplace while taking full advantage of all the resources and experience that LIVE NATION has to offer," TICKETNET Managing Dir. FRANÇOIS THOMINET said. "I’m personally looking forward to working with ALAN and his team as part of LIVE NATION. The TICKETNET team believes in the LIVE NATION strategy and is enthusiastic about the next phase of TICKETNET’s development."