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Partnership sees TEG enter Chinese ticketing market

Partnership sees TEG enter Chinese ticketing market
September 25, 2017

In partnership with regional giant YongLe, TEG is looking to gain a dominant position in the Chinese ticketing market through the launch of new brand YunTek.

The Sydney-based business, which is reportedly for sale, is to go live with the new cloud-based ticketing and entertainment service next year after joining together with YongLe, a Chinese ticketing and live entertainment company.

The deal follows two years of talks, with TEG claiming YunTek will be “one of the most sophisticated end-to-end ticketing and live event management platform that has ever been developed”.

YunTek, which translates as ‘cloud technology’, will allow promoters and venues to self-manage their ticketing operations, produce marketing campaigns and use data analytics to guide every step of the ticketing and event management process.

Ren Wang, Chief Executive of YongLe, which has over 30 million users and has ticketed over 50,000 events, said the joint venture represents the combination of the largest ticketing and entertainment businesses in the region.

He explained “we are pleased to be joining forces with TEG, one of the largest and most respected ticketing companies globally.

“We believe TEG’s experience in both ticketing and live entertainment will ensure the success of the YunTek platform.”

In addition to the core ticketing and event management platform, YunTek will also launch a new tourism product, which builds on YongLe’s experience in ticketing and crowd management for large attractions such as The Forbidden City. The next iteration of the tourism product will combine data analytics, advanced digital marketing and self-service ticketing/QR code reader capabilities.

As part of the transaction, YongLe and TEG have also agreed to collaborate on content for the Chinese market.

TEG Chief Executive Geoff Jones said that the company is excited about the opportunities that this new platform and joint venture will create.

Jones added “this is a game changer as we believe YunTek will disrupt the entire Chinese live entertainment market.

“Not only are we delivering a new and innovative ticketing solution to the Chinese market, we are upending the traditional live events value chain.” 

Ticketek rival Ticketmaster, which ticketed the 2008 Beijing Olympics, exited the Chinese market in 2010.

22nd September 2017 - TEG OWNER LOOKS AT POTENTIAL SALE

21st September 2017 - SUNCORP STADIUM TO IMPROVE FAN EXPERIENCE WITH EXTENDED TICKETEK PARTNERSHIP 

13th September 2017 - TICKETEK LOOKS TO ENHANCE CUSTOMER EXPERIENCES THROUGH TECHNOLOGY 

2nd September 2017 - BRISBANE POWERHOUSE JOINS TICKETEK NETWORK

28th August 2017 - QUEENSLAND EXECUTIVES RECOGNISED AS TOP INDUSTRY MEDIA RELATIONS PROFESSIONALS

17th August 2017 - AMAZON LOOKS TO ENTER TICKETING MARKET

14th August 2017 - TEG MAKES MANAGING DIRECTOR APPOINTMENTS FOR ASIAN AND NEW ZEALAND OPERATIONS

9th August 2017 - TEG AND HAVAS SPORTS & ENTERTAINMENT PARTNER TO CONNECT BRANDS WITH CONSUMER PASSION POINTS

11th July 2017 - TEG APPOINTS NEW DATA, DIGITAL AND TECHNOLOGY MANAGING DIRECTOR 

3rd July 2017 - TEG ANNOUNCES MAJOR MALAYSIAN TICKETING ACQUISITION

8th June 2017 - TICKETEK AND YINZCAM TAKE SPORTS APPS INTO NEW INTEGRATION

30th March 2017 - TEG REWARDS LAUNCHES PASSIVE METERING WITH WAKOOPA

13th April 2010 - TICKETMASTER COMPLETES CHINA EXIT 


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Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

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