CitySide Tickets, Inc., headquartered right next to Boston’s historic landmark, Fenway Park, is a one-stop-shop when it comes to obtaining tickets for your favorite event, whether online at the Company’s intuitive, state-of-the-art ecommerce website (CitySideTickets.com, which even allows visitors to sell their own tickets), or via toll free number: 1-800-ANY-SEAT.
All of the biggest events in Music, Sports and Theatre are available, as well as special, hard-to-find events and performances, which means the Company has a clear advantage over larger entities within the market, like the newly formed Live Nation Entertainment – a result of the merger between two of the sector’s biggest players, Live Nation and Ticketmaster.
For a company like CIST, such market consolidation often proves to be a very good thing, because their solid fundamentals – garnered by employing a strategy of organic growth and circumspect acquisition – are enhanced by marketing. In CIST’s case, this all-out national marketing campaign, of 30 second spots over the most-watched cable channels (Bloomberg, CNN, CNBC, MSNBC, FOX News), reached an 8M viewer audience campaign.
Skillfully expanding on the Boston-area operations while bolstering brand identity nationwide has allowed the Company to gain ever more ground in major markets like NY, CA and FL, which are the central objectives of CIST’s long-term strategy, according to Investor Relations Director Michael McCarthy.
With a 12% projected annual growth rate for online secondary ticket sales topping an estimated $4.5B by 2012, and primary ticket sales representing roughly $22B in the US (according to an 08 Forrester® study), there is considerable room for CIST to carve out a slice of this enormous pie.
That’s why earlier this year, in February, the move to penetrate European markets through the signing of a letter of intent to acquire 100% ownership of StadiumTickets.com – widely known as a reputable exchange for ticket brokers in the international entertainment and event scene – was made, with the goal of creating a virtual location for brokers to negotiate rates, trade tickets, and check availability online.
CEO of CIST, Michael DeAmicis, described the move to acquire StadiumTickets.com as a chance to expand strategically, connecting with the European market via the brokers and “enabling the company to offer tickets globally for the most popular artists”.
CitySide is poised to become a significant national conduit for ticket buyers and sellers, increasing activity by intelligently seizing a large chunk of this growing global market.
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