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Slasher Flick: RazorGator Promo Sees Tix Sales Fees Cut In Half
Published August 7, 2008
RazorGator beginning today will cut the fees it charges individual ticket sales by half from 15% to 7.5%. The 10-day promotion is designed to bulk up RazorGator’s profile in exchange-based secondary ticketing, as the company’s focus in recent years has veered more toward corporate hospitality for major sporting events and ticket management software. The move will apply only to individual ticket sellers and not brokers who trade on the site. Buyer fees will remain at 10%. “Over time, there will definitely be permanent margin compression in the industry,” said RazorGator CEO Jeff Lapin, echoing recent comments of the same tenor by executives from Live Nation and StubHub. “I’m not sure that time is definitely now, but we’re testing this out and seeing what kind of reaction surfaces, and it’s something we may extend depending on what happens. This is a big segment of the market we really haven’t focused on, one in which we want to have a big role.” The timing of the promotion coincides with one of the secondary ticketing industry’s busiest portions of the year, with new college and pro football inventory hitting the market to join existing trading for baseball, the end of the summer concert season and other major events.