If you’re a retail investor, as well as a fan of Amazon, you’ll get a kick out of today’s news. Four separate sources have informed Reuters that Amazon Inc. (NASDAQ:$AMZN) is looking to partner with United States venture owners to sell event tickets. If this were to happen, it could loosen the powerful grip that Ticketmaster has on the money-making ticketing market.
If the Seattle, Washington-based company were to move forward with these plans, it would represent its latest attempt – and there have been many attempts – to use its massive customer base and bargaining power to shake up the market.
There are numerous reasons for Amazon to want to tackle the United States ticketing market. For starters, consumers tend to dislike ticket fees. Second, venue owners, sports teams and leagues are all looking for more distributors for their tickets in order to increase their sales.
In addition, if Amazon were to enter the ticketing market, this could be another way for the company to lure members to Amazon Prime. On the other side of the equation, music acts and sports teams that sell tickets through Amazon could see a boost in merchandise sales.
As of right now, Ticketmaster, which is owned by Live Nation Entertainment, Inc. (NYSE:$LYV), is the number one seller of primary tickets for top venues in the U.S.
The takeaway? Even if Amazon’s plan to break into the U.S. ticketing market fails, it’s still crushing the entire retail sector, thus making it one of the top retail stocks to buy. Don’t believe me? Go ask Blue Apron.
Featured Image: twitter
