E-commerce skyrocketing for live event ticket seller
Perhaps proving that there are profits in online commerce, Ticketmaster Online sold 522,926 tickets worth $19.5 million over its Internet site during the first quarter ended April 30, 1998.The tally represents a 270% increase over online ticket sales of 153,344, valued at $5.3 million, for the same period last year. “We are pleased to be at the forefront of the electronic commerce revolution,” said Fred D. Rosen, prexy/CEO of Ticketmaster. “The explosive growth that we’ve witnessed over the past year should only continue as the Internet’s audience expands.” Internet sales represented approximately 3% of Ticketmaster’s overall domestic business for the first quarter, compared to approximately 1% for the first quarter of last year. In addition to its U.S.-based Internet operations, Ticketmaster recently completed transactional Web sites for its U.K. division and its partner in Mexico. Ticketmaster Online is the Internet’s leading provider of live event tickets and information and receives more than 3 million visits per month, with an average of nearly 100,000 visits per day.