Amazon could start selling event tickets in the US

Amazon Wants to Sell Tickets to Your Next Concert, Sporting Event

The commerce giant has eyed the space, which is largely dominated by Live Nation's Ticketmaster in the USA, and found it a space for plenty of potential opportunity, according to the outlet's sources.

Ticketmaster's lock on tickets for many huge concerts and sports games may be in jeopardy, as Amazon looks to muscle in on the lucrative ticketing business, according to a new report.

According to a report from Reuters, Amazon is exploring the possibility of collaborating with us venues to become an official ticket outlet. If Amazon were to proceed, it could significantly disrupt an industry that is largely dominated by Ticketmaster.

Amazon has had conversations to partner with Ticketmaster as a potential way to get into ticketing in the United States, but those conversations have stalled over who would control customer data, according to sources with knowledge of the conversations. The latter two parties are interested in sharing customer data from ticket buyers, as this data is often used for applications like analytics and figuring out what acts to book at specific venues.

Live Nation's shares, which had been up more than 12 percent earlier on Thursday after the company's quarterly results, pared gains following the Reuters report and briefly turned negative.

Part of the reason for this potential resistance comes from Amazon's likely reason for looking into the ticket sales market.

It would also challenge Ticketmaster, which has a strong grip on the market.

Access to tickets could be another means to lure members to the Amazon Prime shopping club. In an attempt to give itself an opening, Amazon has reportedly "offered to write sponsorship checks worth millions of dollars to the venues" according to one of Reuters' sources. Analysts have pegged the move as yet another play to get buyers to subscribe to Amazon Prime and keep them engaged with Amazon products and services.

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