Ticketmaster and financial services firm First USA have pacted to create a co-branded credit card that will be targeted toward consumers of entertainment products and services. The two firms will offer a no-fee MasterCard which will offer a wide range of entertainment-related rewards.
The mid-seven-figure deal is an extension of Ticketmaster’s five-year sponsorship pact with MasterCard Intl. which was inked in October 1995 to provide the two firms with heightened visibility among entertainment com-panies and consumers.
The First USA deal will provide the ticketer a “significant new revenue stream,” according to Ticketmaster execs. The ticketer will get a piece of the charge volume on the co-branded card that could be significant depending on the number of cards issued and the volume of charges made by cardholders.
The new card will be marketed to consumers in addition to those on Ticketmaster’s 25 million name database.
“First USA has partnered with us because of the power of the Ticketmaster brand and our proven ability to reach the vast entertainment market,” said Fredric Rosen, president and CEO of Ticketmaster. Rosen said the card will “benefit all types of entertainment consumers with a wide variety of rewards.”
First USA is one of the country’s leading issuers of co-branded credit cards and specializes in providing Visa and MasterCard credit cards.
It currently has more than 15 million cards issued encompassing more than $19.9 billion in managed loans.