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eBay undertaking strategic review of StubHub ticket resale marketplace

eBay undertaking strategic review of StubHub ticket resale marketplace
July 20, 2019

eBay has advised that it is making “significant progress” in determining the role of StubHub in its portfolio, with indications that the USA-based ecommerce giant is considering a sale of the secondary ticketing marketplace.

Activist shareholder pressure earlier this year prompted eBay to agree to consider a sale of the San Francisco-based ticket operation, which has quickly risen to become a dominant player in resales of USA sports tickets. Since that move in March, eBay has initiated a strategic review of both StubHub and its classified advertising unit.

eBay President and Chief Executive, Devin Wenig has confirmed progress is being made in the review with market expectations of a StubHub sale has helped prompt a 35% risein the company’s stock price so far this year.

Wenig advised “we’re focused on determining the best path forward to create shareholder value.”

The potential sale of StubHub would be significant for US sports ticketing landscape, with the company having official relationships with hundreds of pro and college teams and leagues, notably Major League Baseball and the National Football League.

It has also helped spur industry adoption of mobile-based ticketing.

StubHub, meanwhile, generated US$264 million in revenue for its first financial quarter (April to June) a rise of 7% from the comparable period last year, and US$1.1 billion in gross sales, up 5%. Company executives in part credited longer playoff series in both the National Basketball Association and National Hockey League, and additional resulting sales from those extra games, as well as strong markets for the UEFA Champions League final and FIFA Women’s World Cup for the growth.

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6th November 2018 - Hong Kong Consumer Council calls for overhaul of ticket resale laws

27th August 2018 - SeatGeek to exit Asia-Pacific and non major entertainment and sport markets

23rd November 2017 - Google updates AdWords policy to restrict online ticket scalpers

1st September 2017 - Google urged to block online resellers who dupe ticket buyers

22nd May 2017 - Inflated ticket resale prices impacting consumers’ discretionary entertainment spending

16th May 2017 - Resellers beat fans to Ed Sheeran tour tickets as Ticketek site crashes

7th December 2016 - Overseas authorities introduce anti ticket scalping legislation

17th June 2015 - How the Miami Heat lost their top retail seller but still dominated NBA retail sales

19th May 2008 - Pilbeam Slams Madonna Ticket Reselling


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