SOCIOLOGICAL: When considering the demographic for Ticketmaster, saying all eventgoers of all ages is too broad, even though it is for everyone. The focus demographic would be millennials between the ages of 18-34 that attend events/concerts a lot. On Billboards website, there is a that talks about how millennials have been reportedly going to a lot more concerts/events the past couple years. Ticketmaster did a study in 2014 for live event attendees and found that 35% of concertgoers where millennials.
That is not even the biggest surprise from that article. They also did a survey that talked about if people attend less concerts as they age. Turns out that 44% of boomers attend live events and are attending more events now than they did 10 …show more content…
It controls about 80% of the ticket market, which is a multibillion dollar industry. Even fortune 500 companies like Amazon want in on the action of the ticket industry, but it has proven difficult. New ticket business pop up a lot and it they have proven they are here to, but no one has been able to overthrow the king, Ticketmaster. Amazon also tried to start selling tickets in the U.K. but they unfortunately were unable to hang around. When Live Nation acquired Ticketmaster, it was probably one of the best economical moves they made. Not only was it a blue ocean market that no one was in, but it also helped their promotion business, which can cohesively work together. They were just an event promotional company, but they acquired a ticket company that will works will with their original company. Ever since they merged together Live Nation Entertainments stocks have only been going up the past 5 years.
ECOLOGICAL: Back in the day people would have to print tickets to use to get into events/concerts, which would use a lot off paper. Millions of people attend concerts/events, which equals out to millions of pieces of paper being used and taken from trees. This was not a good thing, since trees are needed to maintain are atmosphere, which allows humans and other spieces to live, so adding the mobile ticket was a big step in the right
That is not even the biggest surprise from that article. They also did a survey that talked about if people attend less concerts as they age. Turns out that 44% of boomers attend live events and are attending more events now than they did 10 …show more content…
It controls about 80% of the ticket market, which is a multibillion dollar industry. Even fortune 500 companies like Amazon want in on the action of the ticket industry, but it has proven difficult. New ticket business pop up a lot and it they have proven they are here to, but no one has been able to overthrow the king, Ticketmaster. Amazon also tried to start selling tickets in the U.K. but they unfortunately were unable to hang around. When Live Nation acquired Ticketmaster, it was probably one of the best economical moves they made. Not only was it a blue ocean market that no one was in, but it also helped their promotion business, which can cohesively work together. They were just an event promotional company, but they acquired a ticket company that will works will with their original company. Ever since they merged together Live Nation Entertainments stocks have only been going up the past 5 years.
ECOLOGICAL: Back in the day people would have to print tickets to use to get into events/concerts, which would use a lot off paper. Millions of people attend concerts/events, which equals out to millions of pieces of paper being used and taken from trees. This was not a good thing, since trees are needed to maintain are atmosphere, which allows humans and other spieces to live, so adding the mobile ticket was a big step in the right