Amazon is looking to add US venues to its new ticketing service. In doing so, Amazon is taking on Ticketmaster, the largest ticketing agency. Normally, when new competition enters a market it drives competition and helps consumers, but in the case of an Amazon vs. Ticketmaster battle, this is not likely. Ticketmaster owns a large amount of venues and isn’t likely to let Amazon take their ticket sales from these venues. Amazon on the other hand has tech that will makes sales easier that they are not likely to share. This means instead of seeing the results of normal competition, Amazon and Ticketmaster are likely to make venues lock into deals and keep prices high.
- Amazon is trying to get into the business of event ticketing which is currently monopolized by Ticketmaster
- It will unlikely change much for consumers who purchase tickets if Amazon gets into the ticketing business
- Because of their wide variety of products, Amazon is currently the third largest retailer in the world
“When one of the biggest companies in the world, headed up by the richest man in the world, steps into your space, it’s time to start paying attention. And if you’re the biggest player in that space, you’d better be ready because they are coming for you.”