Q4 numbers up 143% to $13.6 mil
Barry Diller-owned Ticketmaster Online-CitySearch Inc. on Tuesday reported fourth quarter sales surged 143% to $13.6 million over the same period a year ago.The Pasadena, Calif.-based online ticketing and community guide service attributes the significant sales increase for the quarter, ended Dec. 31, 1998, to record online ticket sales combined with continued growth in both Web site sponsorship and ad sales. The number of users for the sites also grew 39% between August and October 1998, from 2.15 million to 3 million users, according to Media Metrix, an Internet research firm. Ticketmaster Online generated $5.8 million in the fourth quarter, compared with $1.9 million a year ago, due to several live events, including concerts and the 1998 World Series. Over 25% of Ticketmaster’s sales for games played in San Diego were sold online. City Guide generated an additional $5.3 million, compared with $2.5 million in 1997. Sponsorship and advertising raked in $2.5 million, compared to $1.2 million. City Guide sales were driven in large part by a 119% increase in the average monthly price for new business Web sites sold in the company’s markets. Shares of Ticketmaster Online-CitySearch jumped $3.36 to close at $71.13, on Tuesday, despite the Dow’s drop of 145.21 points for the day.