AXS Replaces StubHub As Official Ticket Reseller For AEG Venues
StubHub is "out as the official ticket reseller" for AEG’s venues, including Staples Center, as it "turns to its ticketing subsidiary AXS as its preferred resale site," according to Anne Steele of the WALL STREET JOURNAL. The deal is the "latest sign of the collapsing distinction between the primary and secondary ticket markets." StubHub's contract with AEG "expired this summer." AXS said that it will "now tie every ticket sold to the purchaser’s identity." Each customer will have their "own AXS account through which tickets can be bought, sold or transferred to other customers." While it will "still be possible to sell an AXS ticket on a third-party site -- including StubHub -- the process via AXS's own is intended to be more convenient, in part because transfers need to be made from one AXS account to another anyway." AEG's previous deal with StubHub "facilitated easier transfer and secured tickets' authenticity through a direct integration with AXS." AEG venues covered by the new setup include Staples Center, N.Y.'s PlayStation Theater, Target Center and Sprint Center (WALL STREET JOURNAL, 9/15). StubHub's naming-rights deal at the AEG-owned soccer venue in Carson, Calif. -- home to the Galaxy -- also expires after the '18 MLS season. Meanwhile, sources said that the two private equity firms that have a majority stake in AXS are "exploring strategic options" with their stakes (THE DAILY).