Ticketmaster narrows loss, ducat sales rise

Fourth-quarter red ink totals $46 mil

Ticketing services giant Ticketmaster posted a narrowed loss for the fourth quarter and year amid revenue gains from increased conventional and online sales.

Fourth-quarter red ink totaled $46 million, down from a year-earlier loss of $84.9 million.

Quarterly revenue rose 11% to $159.6 million.

On an annual basis, Ticketmaster’s loss amounted to $164.5 million, compared with red ink of $230 million in 2000.

Revenue was up 11% to $675.2 million in 2001.

The Los Angeles-based company, a unit of Barry Diller’s USA Networks, sold 20.3 million tickets overall in the latest quarter — a 9% improvement over the year-earlier period. Over 12 months, Ticketmaster sold 4% more tickets in ’01, at a total 86.7 million.

Online ticketing revenue was up 36% at $46.7 million in the latest quarter. The company didn’t provide full-year Internet revenue but noted the percentage of tickets sold online increased to 32% from a year-earlier 25%.

“Working with our clients, we have been able to develop marketing programs that encourage use of the Internet as a distribution platform,” CEO John Pleasants said. “Internet-only pre-sales and targeted email-based marketing programs are effective tools in increasing the percent of tickets sold online and assisting our clients to sell more tickets overall.

“For 2002, we have set a goal of achieving by year-end a run rate of at least 45% of tickets being sold online,” Pleasants added.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading