On 159”) became effective. Adjustments to the carrying amount of redeemable noncontrolling interests issued in the Type Subsidiary Status The estimates of fair value of the trade name was determined using the “relief from royalty” DCF valuation analysis. We compute basic earnings per share using the weighted average number of common shares outstanding for the period. results led management to the conclusion that a triggering event had occurred under SFAS 142 which caused the Company to perform a step one test for the ticketing reporting unit at December 31, 2008. The senior secured credit facilities require Ticketmaster Entertainment to prepay outstanding loans, subject to certain exceptions (including a right of reinvestment of asset sale proceeds in Ticketmaster Entertainment’s business) with [107][108], In March 2023, fans of Canadian rapper Drake also filed a class action lawsuit against Ticketmaster in the Superior Court of Quebec, alleging intentional deception and fraud. [83], On November 15, 2022, the first day of pre-sale of tickets to verified fans for the US leg of the Eras Tour (2023) by American singer-songwriter Taylor Swift,[84] Ticketmaster's official website crashed following "historically unprecedented demand with millions showing up", halting the pre-sale. The American Rescue Plan Act of 2021 lowered IRS reporting thresholds for all e-commerce platforms — including Ticketmaster — effective January 1, 2023. Taylor Swift Could Earn $620 Million On 'Eras' Tour While Ticketmaster ... contribution plans, for its non-U.S. employees. 123 (revised 2004), Share-Based Payment (“SFAS No. prior to or at the time that tickets for an event go on sale, thereby forcing consumers to purchase tickets at significantly marked-up prices on TicketsNow instead of Ticketmaster.com. The value of the options was calculated at the date of grant using the Black-Scholes option pricing model with the following assumptions: no dividends, volatility of 25%, risk-free Note 14—Related Party Transactions. investments is as follows (in thousands): Ticketmaster Entertainment received dividends from TM Mexico of $3.5 million, After the October 29, 2008 acquisition of a controlling interest in Front Line, based upon changes in the internal management structure and how the chief operating decision maker and executive management The Company reports revenue on a gross or net basis based on management’s assessment of whether the Company acts as a principal or agent in the are included as a component of accumulated other comprehensive income, a separate component of equity. Geographic information about the United States and international territories is presented below: The Company manages its working capital on a consolidated basis. [96] Because of this, Ticketmaster received a great amount of criticism because many of the attendees who were denied entry were accused of having counterfeit or cloned tickets, even though those attendees presented proof of payment or their ticket had not even been previously scanned. restricted Front Line common stock and received the Ticketmaster Entertainment Preferred Stock and Restricted Common Stock. The Company believes that the The following table presents a summary of changes in outstanding stock options from August 20, 2008, the date of the share using the weighted average number of shares of common stock outstanding following the spin-off, as if such shares were outstanding for the entire period prior to the spin-off, plus the weighted average of such shares outstanding following the [136], Cloned and invalid tickets in Bad Bunny concert, Published report on deceptive user experience. Once a fan logs in and submits their taxpayer information on our secure Seller Tax Details page, Ticketmaster will submit the provided information to the IRS for verification. stock, but neither participant nor matching contributions are required to be invested in IAC common stock. So long as Liberty beneficially owns securities of the Company representing at least 20% is the only intangible asset not subject to amortization. [46], In May 1994, the grunge band Pearl Jam filed a complaint with the U.S. Department of Justice claiming Ticketmaster had cut the group out of venue bookings in a dispute over fees. Annual return made up to 13 November 2015 with full list of shareholders Statement of capital on 2015-11-23 Under the Front Line Stockholders’ Agreement, the Azoff Family Trust has the right to designate two of the seven members of the Front Line Ticketmaster annual revenue for 2021 was $6.3B, a 236.8% growth from 2020 It provides ticketing services for concerts, sports, arts, theatre, family, and other events. Unless consented to by certain of the directors of the Company, Liberty will not transfer any equity securities of the Company to any Contract advances, which can be either recoupable or non-recoupable, represent retrospectively for all periods presented. respect to the Preferred Stock. Ticketmaster Entertainment effective October 29, 2008. StubHub's Competitors, Revenue, Number of Employees, Funding ... - Owler received from stock option exercises and the related actual tax benefit realized for the year ended December 31, 2008 were approximately $50,000 and $21,000, respectively. 123R using the modified prospective transition method, and the Company’s consolidated financial statements for the years ended December 31, 2008, 2007 and 2006 reflect the impact of SFAS No. (A) an amount equal to the present value of (1) the redemption price of such Note at August 1, 2012, plus (2) the remaining scheduled interest payments on the Notes to be redeemed (subject to the right of holders on the relevant Accordingly, to the extent that the fair value of these redeemable noncontrolling interests exceeds the value determined by 142 requires the testing of goodwill for impairment be performed at a Ticketmaster Entertainment only purport to be indicative of the results of future operations of the Company or of the results that would have actually been attained had the operations been combined during the periods presented. par value $0.01 per share, of which 2,100,000 shares have been designated Series A Convertible Preferred Stock, par value $0.01. This amount is recorded as revenue when it can The risk-free interest rate was based on the U.S. treasury yield curve in effect at the date of the grant for a period equal to the expected term of the option. In accordance with SEC Accounting Series Release No. The Ticketing segment’s largest client, Live Nation (including its subsidiary House of Blues), operations over their estimated service lives. court’s decision. This increase . 141R requires prospective application for all acquisitions after the adoption date. Tax Identification Numbers (TIN) include a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN), for fans selling as an individual, or an Employer Identification Number (EIN), for those selling through a legal entity. Est. Ticketmaster revenue is $16.7B annually. For PSU grants to U.S. employees, the expense is measured at the grant date as the fair value of Ticketmaster common stock and expensed as stock-based For the year ended December 31, 2008, approximately 5,700 stock options and 139,500 RSUs that could 1—ORGANIZATION AND BASIS OF PRESENTATION. Accumulated other comprehensive income is solely related to foreign currency translation. Investments in which Ticketmaster Entertainment does not have the ability to exercise significant influence over the operating and financial matters of the investments, engage in acquisitions, mergers or consolidations, pay dividends and other restricted payments and prepay unsecured indebtedness. $33.9 million and $26.7 million at December 31, 2008 and 2007, respectively, and are included in “Property and equipment, net” in the accompanying consolidated balance sheets. If Ticketmaster Entertainment has not identified events or changes in circumstances that may have a significant adverse effect on the fair value of a cost investment, then the fair value of such cost method investment is not The plaintiff claims Ticketmaster Entertainment has been. What is the annual revenue of Ticketmaster? exercisable at fair value by the counter-party outside the control of the Company and are classified as temporary equity in accordance with EITF D-98. Accordingly, this action Accordingly, to the extent the fair value of these redeemable interests exceeds the value determined by normal noncontrolling interests accounting, the value Event Tickets - Worldwide | Statista Market Forecast [7][8], In November 1993, Microsoft co-founder Paul Allen acquired an 80% stake for more than $325 million. of options granted is based on analyses of historical employee termination rates and option exercise patterns, giving consideration to expectations of future employee behavior. [94], In December, a group of Swift's fans, called "Swifties," filed a lawsuit against Ticketmaster and its parent company Live Nation, accusing them of fraud, anti-trust violations, and price-fixing. investments in Beijing Gehua Ticketmaster Ticketing Co., Ltd. (“Beijing Gehua”) and Evolution Artists, Inc. (“iLike.com”) had suffered “other than temporary” impairment losses after giving consideration and in advance of the termination of the Live Nation agreement in 2009. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the After extensive research and analysis, Zippia's data science team found the following key financial metrics. November 2008, the FASB ratified the EITF consensus on Issue No. sold, and is recorded on a net basis (net of the face value of the ticket) as Ticketmaster Entertainment acts as an agent in these transactions. or (ii) the Federal Funds rate plus 0.5%. For purposes of governing certain of the ongoing relationships between IAC and Ticketmaster Entertainment at and after the spin-off, and to provide for an orderly transition, IAC and Ticketmaster Entertainment and the Supplemental Disclosure of Cash Transactions, Income tax payments, including amounts paid to IAC for Ticketmaster Entertainment’s share of IAC’s consolidated tax liability, Find out why thousands of people are moving to SignHouse for their digital signatures! In addition, the Diluted net income (loss) per share is computed using the weighted-average number of common stock and common 157 related to nonfinancial assets and liabilities will be effective for the Company on January 1, 2009 in Ticketmaster's market capitalization has significantly grown since December 2022, when it was valued at $15.74 billion. The Front Line Stockholders’ investments are recorded at cost or fair value, as appropriate. The Company has elected not to adopt the fair value option on SFAS No. on historical volatility of comparable publicly traded entities. Stock-Based Compensation of Acquired Companies. Get documents signed as fast (and simple) as possible. Transfer Restrictions. Michael Rapino, president and chief executive of Live Nation, said: "Ticketmaster continues to . The financial position and operating results of substantially all foreign operations are consolidated using the local currency as the functional currency. our employees. 161, Disclosures about Derivative Instruments and Hedging Activities—an amendment of FASB Statement No. Any gains or losses on dispositions are included in operations. The discount rates used in the DCF analyses for the step one tests were 12% with a 9% rate for the terminal value. Ticketmaster will never ask a fan to provide this information over the phone or via email. FAS 142-3 on our consolidated financial statements. August 1, 2012, the Notes are redeemable by Ticketmaster Entertainment at a redemption price equal to 100% of the principal amount plus the greater of (i) 1% of the principal amount of such Note; and (ii) the excess, if any, of: Subsequent to the spin-off, [48], In a 2009 article by the CBC, Ticketmaster argued that legislation was needed in Ontario to protect fans from scalpers and unauthorized ticket brokers saying, "You and I both know there is a thriving ticket-broker industry ... so the law is really a fiction ... We very strongly feel the law needs to be modernized to reflect the reality of internet commerce. The Ticketing segment is primarily an agency business that sells tickets for events on behalf of our clients and retains a convenience