UPDATE: In a groundbreaking move for live events in New South Wales, Ticketmaster has just secured a $100 million ticketing contract with Venues NSW, effective from November 1, 2023. This deal could significantly enhance the concert landscape at the Sydney Cricket Ground (SCG) and six other major venues in the state.
The new seven-year agreement comes after a fierce competition, with Ticketmaster emerging victorious over rivals like Ticketek and AXS. This deal marks the largest contract Ticketmaster has achieved in its 30-year history in Australia, according to local managing director Gavin Taylor. In addition to the SCG, Ticketmaster will now handle ticketing for Allianz Stadium, Accor Stadium, CommBank Stadium, and the upcoming Penrith Stadium, set to open in 2027.
This transition could reshape the ticketing landscape, potentially making New South Wales the first state where Ticketek no longer controls a majority of events. Each year, approximately 3 million fans flock to these venues, and this new partnership aims to streamline their ticket purchasing experience through innovative technology.
Taylor emphasized that Ticketmaster’s advanced systems allow for easier ticket resale and reassignment, alongside a real-time queueing feature for high-demand events. These improvements are crucial for fans eager to attend sold-out concerts, enhancing accessibility and convenience.
The Minns government has also lifted the cap on concerts at the SCG and Allianz Stadium from four to 20 events per year. With Ticketmaster and its parent company Live Nation, the world’s largest live event promoter, at the helm, experts believe they are well-positioned to attract major acts capable of filling these concert slots.
However, challenges loom on the horizon. The US Justice Department has raised concerns regarding Live Nation’s market dominance, alleging potential abuses of power in the concert ticketing industry. Despite this, there are indications of a softer approach to antitrust issues, which may alleviate some pressure on the company.
In Australia, Ticketmaster faces a more favorable regulatory environment, with strict laws on ticket resale prices, preventing marked-up sales over 110 percent of face value. This legal framework could mitigate some concerns about ticket scalping, which has plagued the industry elsewhere.
Taylor noted that the competitive nature of Australia’s ticketing market, where Ticketek holds a majority share and AXS is gaining ground, reflects a commitment to keeping events accessible for fans. “The venues and their hirers are very aware that you can’t just hope people will keep paying more,” he stated, underscoring the need for balance in ticket pricing.
As this partnership unfolds, all eyes will be on how Ticketmaster leverages its resources to elevate the live event experience for fans across New South Wales. The implications of this deal are significant, potentially reshaping the entertainment landscape and enhancing accessibility for millions of concert-goers.
Stay tuned for updates as this story develops, and be prepared for an exciting era of live entertainment in New South Wales.
