Sunday, August 16, 2020

Mark Yovich named Global President of Ticketmaster, Jared Smith becomes worldwide Chairman | Music Business Worldwide

Ticketmaster is shaking up its global structure, by bringing together its North America and International workforces into one unified global team.

As a result, Ticketmaster’s President of International, Mark Yovich, has been promoted to the Live Nation’s company’s President of Global Business.

In the US, Amy Howe, previously President of North America, is upped to Global Chief Operating Officer, while Jared Smith, previously President of Ticketmaster, becomes Global Chairman.

The news was first reported by Billboard on Friday.

Ticketmaster is currently preparing itself for post-pandemic business to pick up towards the end of 2019, following a predictably torrid time during Q2.

Live Nation’s results for the three months to end of June showed that the company’s global ticketing operation – of which Ticketmaster makes up the majority – actually posted negative revenue in the quarter, due to customer refunds and a lack of new on-sales.

Speaking to investors earlier this month, Live Nation CEO and President, Michael Rapino, was upbeat about his ticketing business’s prospects moving into 2021.

“We believe long-term, regardless of what quarter we exactly scale [concerts back to the size they were], the business will be stronger than ever – with the creative push by all these artists who need to get on the road to drive their new music,” said Rapino.

In February, Ticketmaster made a major international announcement with the expansion of its business into Asia, via new offices in Singapore and Taiwan.

Ticketmaster sold over 486m tickets worldwide in 2019, according to Live Nation’s annual results. Some 115m of those tickets were sold outside of North America.Music Business Worldwide


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