Yesterday SFX Entertainment and Viagogo announced a 5 year, $75 million agreement for Viagogo to provide exclusive and official ticketing services for all SFX Entertainment events. Described as a sponsorship agreement," Viagogo will be able to promote themselves worldwide to the EDM demographic. The deal gives SFX one official reseller plus additional potential at scale with discussion of a loyalty program. Also, earlier this month SFX and T-Mobile extended their marketing alignment."
Having previously acquired ticketing companies Paylogic, Flavorus and Clubtix, SFX Entertainment
apparently decided they needed a secondary ticketing service that may have been just too big to buy.SFX and Viagogo
SFX's $75 million agreement
is described as a sponsorship agreement." Since the sponsorship will also enable viagogo to market and extend its brand throughout those global markets." I guess that mean's Viagogo's paying something or trading services for advertising but the terms of the deal are not described in the announcement.
As SFX’s official resale ticketing partner, viagogo becomes the global authorized source for resale tickets to all of SFX’s festivals and events, even when they are sold out at the box office."
With more than 60 SFX brands around the world, the sponsorship will give fans the chance to resell their tickets on viagogo’s market platform."
Here's an interesting canned comment from CEO Robert Sillerman:
Viagogo's recognition of SFX as the only company operating around the world in Electronic Music, and thus the best way to expand their operations, also adds an integral element in our commitment to enhance our fans’ experiences. Working together we have the key components to jump start our loyalty program and to offer unique benefits to our millions of fans."
This agreement places Viagogo in a position to be very visible in the EDM scene with the right to resell tickets with guarantees to many of the major events around the world.T-Mobile Relationship Extended
Earlier this month SFXE and T-Mobile announced
an extension of their marketing alignment with an 18-month program focused on building a deep cultural connection with the millennial audience through investments in festivals, media and custom events."
This story appears courtesy of HypeBot.
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