Ticketmaster “Upgrades” with blockchain acquisition. (Courtesy of Ticketmaster)
Ticketmaster has scooped up blockchain-based ticketing platform Upgraded, hoping to add a layer of transparency, control and fraud protection to the ticketing process.
Upgraded converts traditional tickets into secure, interactive digital assets that are backed by blockchain and secured by encrypted barcodes. Mixing blockchain in with some of Ticketmaster’s other identity-based ticketing services could add visibility to the ticket distribution process. Ultimately, that may enable event owners to keep a stronger record of attendees while protecting against fraudulent tickets.
Ticketmaster said the acquisition will advance its identity-based products at the gate while creating a safer and more personalized experience for fans. Upgraded’s solution will be implemented without requiring a venue to replace existing access control hardware.
“Ticketmaster is constantly exploring emerging technologies, and there aren’t many that have the unique possibilities of blockchain,” said Justin Burleigh, Ticketmaster North America’s chief product officer. “We’re excited to have Upgraded join the team as we continue to focus on providing the world’s leading identity-based ticketing platform to fans, artists, and our clients.”
Terms of the deal were not disclosed.
SportTechie Takeaway
Ticketmaster has been on a mergers and acquisitions and investing run as the company rushes to keep pace with an increasingly mobile-first world and an insatiable appetite for data from event owners. Data has been a driving force of ticket innovation, as venues work to use that information to better target current and potential attendees with promotions and up-sells to drive top-line growth.
Earlier this year, Ticketmaster invested in Blink Identity, which provides facial recognition tools at gate check-ins to enable a more efficient entry process. Blink’s technology can capture a person’s image as they walk past a camera at full speed. Additionally, Ticketmaster has rolled out Presence, a platform that is driving league-wide digital ticketing at the NFL. Presence replaces traditional paper tickets with digital passes and utilizes a “tap and go” venue entry system compatible with smart devices. With Presence, event operators can also receive map-based attendance reporting in real time.
