IAC Discusses the Online Ticketing Business (IAC, HOLL)

Quotes from IAC CEO Barry Diller's comments on his Q3 earnings conference call:

In Ticketing, it's been a great concert year. Everywhere at Ticketmaster are other initiatives to drive sales. Our 'sell more tickets better' program that delivers incremental sales, accounted for 9% of our domestic ticketing revenue. We also sold 110,000 tickets via TeamExchange, our online marketplace where season ticket holders can sell tickets they're unable to use. Last year, we had 23 teams enrolled, today it's 34.

Over the next few weeks, Ticketmaster is launching a great new product going beyond sports to single ticket buyers in concerts, arts and family events. TicketExchange will provide event buyers a secure place to shop for guaranteed primary and secondary market tickets, while leveraging Ticketmaster's efficient TicketFast online delivery. It's TicketFast that allows customers to print the tickets instantly on the personal computer. It's a technology that's been adopted by more than 2,000 venues, 37% more than we had last year. We began installing the scanning equipment about three years ago. A real innovation in ticketing. Now, it's our own internet turnstile for developing new markets.

(Quotes are from the CCBN StreetEvents transcript.)

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