eBay Inc (EBAY): StubHub to ticket and produce its own concerts
eBay Inc (NASDAQ:EBAY) subsidiary StubHub will soon let you buy concert tickets for shows that are produced by StubHub itself. StubHub helps brokers and fans buy/sell tickets through its website. StubHub already has five shows planned, which will feature “emerging acts.” In fact, StubHub will launch its first self-produced concert on May 18 in Los Angeles.
StubHub will announce the performer next week. This service competes head-on with Live Nation Entertainment and AEG. StubHub chief marketing officer Michael Lattig said that concerts are not a “one-off” project. StubHub will be repeating this model in “as many markets as makes sense.” StubHub will target 300-600 seat venues for self-ticketed shows.
The tickets for the self-produced show will go on sale for $60. StubHub’s shows will benefit the Mr. Holland’s Opus Foundation and will play in Nashville, Tennessee; San Francisco, California; Chicago, Illinois; and New York, New York. StubHub is also partnering with Pandora for 5 free concerts, launching April 30th with Tokyo Police Club at Los Angeles’ Boulevard 3. StubHub’s 10 planned shows will be a part of the “StubHub’s Next Stage” concert series.