Ticketing is like dating websites, many are affiliated in various ways. Ticketmaster doesn’t down StubHub… Livenation (the company that owns them), and operates most of the venues, does. They are structured to have nominal competition to meet competitive bidding requirements for .gov owned facilities.
Long ago I worked for a company that did some novel work in the ticketing and contained reservation space. We didn’t do resale due to the nature of the product, but the fees we extracted were bonkers - the facilities operators basically paid a nominal amount to stand up the platform, and we derived all (and it was a lot of) revenue from the customer - often on a white label basis.
Long story short, Ticketmaster elbowed in and bought the company and the tech once we had traction. That pattern holds in many similar business models.
Long ago I worked for a company that did some novel work in the ticketing and contained reservation space. We didn’t do resale due to the nature of the product, but the fees we extracted were bonkers - the facilities operators basically paid a nominal amount to stand up the platform, and we derived all (and it was a lot of) revenue from the customer - often on a white label basis.
Long story short, Ticketmaster elbowed in and bought the company and the tech once we had traction. That pattern holds in many similar business models.