AEG has partnered with start-up technology company Outbox Technology Inc. to sell tickets to events at 105 arenas and theaters, the Wall Street Journal reported Wednesday. The move would directly rival live entertainment giant Live Nation Entertainment's Ticketmaster.
AEG expects to begin selling its tickets through Outbox in the next six months, and have its global venues running through the system within the next two years, the Wall Street Journal says. The joint venture, Outbox Enterprises, reportedly plans to go after the business of current Ticketmaster clients after their contracts expire.
The third partner in the joint venture is Outbox chief executive Fredric Rosen, who, as CEO of Ticketmaster, helmed the company during its most rapid growth into the dominant player in the ticketing industry and is credited with creating a business model that not only popularized computerized ticketing but changed that part of the business from a cost center to a revenue producer for venues, promoters and sports teams through the use of service fees and rebates.
"This isn't about trying to go out there and build a whole new brand around the name Outbox," AEG chief executive Tim Leiweke told the Wall Street Journal. "This is about service."
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