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FACING LEGAL CHALLENGES, TICKETMASTER LOOKS FORWARD
Published June 19, 1995
Ticketmaster, which has exclusive control over an "estimated two-thirds of the major stadiums, arenas, and amphitheaters in urban centers -- and provides tickets for more than 50 major professional sports teams," is profiled in the current BUSINESS WEEK. The federal government, state law enforcers, and private litigants are all "questioning the legality of Ticketmaster's dominance in the ticketing industry." Ticketmaster CEO Fredric Rosen has "locked up the choicest promoters and sites," and made many of the deals by "visiting cash squeezed arena owners and offering them money ... as a guarantee against their share of future service fees." In turn, Ticketmaster's "aggressive climb has enabled it to call most of the shots in its market," which has led to high ticket surcharges. But the legal challenges may be "taking [their] toll," as Ticketmaster lost the "coveted contract" to sell tickets to the '96 Olympic Games to Protix. But Ticketmaster is looking ahead to new ventures, including a shopping channel to sell merchandise, and by going online to sell their services. Rosen is also looking to reduce the companies "dependence on ticket sales" which make up 95% of revenue, especially as competitors move into the ticketing industry (Himelstein & Grover, BUSINESS WEEK, 6/26 issue). Rosen is also featured in the L.A. TIMES. Within weeks, Ticketmaster will be on the World Wide Web, and is looking at using its phone system to sell airline tickets (Helm & Phillips, L.A. TIMES, 6/19).