Morning Report: On Top Of Its Slew Of Retail And Delivery Services, Amazon Wants To Sell You Concert Tickets

Morning Report: Not content to own everything else, Amazon explores entering the concert ticketing space. 

Rumor has it that Amazon is getting into event ticket sales—another activity that the all-seeing eye of Bezos will happily take over for you.

At first glance, the move makes sense as access to high-demand events and early pre-sales could potentially boost Prime membership. But how exactly will Amazon position itself in the ticketing market?

On one hand, Amazon has an interesting market opening: Consumers are actively looking for options aside from Ticketmaster, which has been called out for its exorbitant service fees and monopolistic tendencies.

On the other hand, snagging the $5 billion market from Ticketmaster seems unrealistic, even for Amazon. The multibillion-dollar ticket giant enjoys 80 percent market share domestically for a reason. Instead of charging venues to sell on its platform, Ticketmaster pays their venue operators with a portion of the high fees imposed on ticket buyers. Thus, rather than taking on Ticketmaster, teaming up with it to establish a ticket distribution system may be a wiser route for Amazon to take.

There is still a lot of wiggle room before Amazon makes its debut into the ticketing space, but what we do know is that the retail giant’s greatest value resides in its customer base. The success of its partnerships with ticketing companies may even depend on its willingness to share this data.

While ticket-selling is now on the horizon, it’s only one of Amazon’s new endeavors amongst Fresh, Restaurants, and Music.

What will Amazon go after next?

From the Crunchbase Daily:

Intel CEO quits Trump panel

  • Intel CEO Brian Krzanich announced that he is leaving President Trump’s manufacturing council, saying that “promoting American manufacturing should not be a political issue.” He joins two other council members, Merck CEO Ken Frazier and Under Armour CEO Kevin Plank, who also resigned amid backlash against Trump for his response to events in Charlottesville. HomeLight raises $40M for finding realtors HomeLight, an online service for finding real estate agents, has raised $40 million in a Series B round led by Menlo Ventures. The latest financing brings total funding for the five-year-old, San Francisco-based company to $55 million.

Filecoin ICO poised to set records

  • Filecoin’s initial coin offering may set records in terms of scale by the time it ends, Crunchbase News reports. To date, the pre-sale of tokens for the decentralized storage network sits comfortably close to the $200 million mark, most of which flew off the digital shelf in the first hour or so of the offering.

Track startup trends at Disrupt SF

  • Tech communities in China and the U.S. are collaborating more than ever. Discover the growing influence of Chinese startups and investors on Silicon Valley at TechCrunch Disrupt SF this September. Save $1000 on general admission tickets plus a $200 Crunchbase discount before this Friday.
Copy link