Massive international company expanding in South Africa
Ticketmaster, the world’s largest ticket marketplace, has acquired South African-based Quicket as part of its expansion into the continent.
Ticketmaster said that the purchase of the local event and festival ticketing player will support the rapidly growing live event market in Africa.
Ticketmaster launched in South Africa in 2022 and already serves several South African festivals, sports, music, theatre, and venue clients.
Ticketmaster said that the partnership with Quicket, known for its self-service platform and even organizer tools, will add to this success by offering resources for events of all sizes, from small clubs to stadiums.
Ticketmaster said that its global reach and service and Quicket’s regional expertise will benefit promoters in the latter’s expanding operations in Nigeria, Uganda, Kenya, Zambia and Botswana.
The acquisition will also enable the expansion of digital technologies, like secure encrypted mobile tickets, across the continent.
“Africa is home to some of the most passionate fans in the world who we have the privilege of connecting to the events they love, simply and securely,” said Mark Yovich, President at Ticketmaster.
“Partnering with Quicket will supercharge our mission to elevate Africa’s dynamic live events to the global spotlight they truly deserve.”
“The passion for live entertainment is at the heart of African culture,” added James Tagg, Managing Director, Quicket.
“Over the past 13 years, we’ve empowered event creators across the continent to deliver exceptional experiences through our ticketing platform.”
“Partnering with Ticketmaster marks a landmark moment in connecting African artists to a global audience and enhancing the experience for local fans and promoters alike.”
Under Tagg’s management, Quicket will continue to operate as a standalone business unit from Cape Town.
Ticketmaster is the largest global ticketing company in the world, operating in over 32 countries.
It was founded in 1976 and merged with events promotor Live Nation in 2010 to create Live Nation Entertainment.
Ticketmaster is used by thousands of artists, companies, and venues across the world, with partners including Taylor Swift, the National Basketball Association (NBA), and the National Football League (NHL).
Rocky road
Ticketmaster’s further expansion into South Africa comes amid a tumultuous relationship between South Africa and international business partners.
Earlier this year, Shell announced that it was selling its downstream business in South Africa, including its petrol stations, as part of a restructuring.
French Bank BNP Paribas also announced that it will no longer operate as a bank in South Africa as part of a global restructuring.
Anglo-American is also set to unbundle South African-based Anglo-American Platinum amid yet another restructuring.
These announcements come amidst the poor performance of the South African economy, where GDP is only expected to increase by roughly 1% in 2024.
That said, several international companies are investing further or starting to operate in South Africa.
BP said that it has drawn up a “long-term” strategy for its presence in South Africa, which includes expanding its over 500 forecourts and upgrading its service offerings across the country.
British-based apparel brand JD Sports is also set to enter the South African market through a partnership with the Foschini Group. Coffee chain Pret a Manger, also based in the UK, is set to launch in South Africa in 2024.
In addition, with the formation of the Government of National Unity (GNU), many international local and international investors are expected to increase their shareholdings in South African assets, such as equities, amidst attractive valuations.
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