Court Approves Trocadero Ticket Switch

Philadelphia’s Trocadero Theatre has received bankruptcy court approval to end its Ticketmaster contract and instead ink an agreement with Ticketfly going forward.

Joon Associates, as debtor-in-possession of the venue, convinced the court that it is in the creditors’ best interest to end the TM contract, which was cited in BK filings as “burdensome.”

The Trocadero made the request Aug. 16, and included a number of supporting exhibits including its Ticketmaster contract. Once that was out in the open, attorneys quickly returned to court to ask that it be put under seal. It’s now unavailable for viewing and the documents heavily redacted in the Sept. 15 filing approving the motion, as is the Ticketfly contract approved by the court.

The Troc argued that the Ticketmaster contract is “a contract under which the obligation of both the bankrupt and the other party to the contract are so far unperformed that the failure of either to complete performance would constitute a material breach excusing performance of the other.”

And, the theatre further argued, researching alternate means of ticket selling in light of its TM agreement is a matter of using sound business judgment in the best interest of creditors.

The judge agreed, immediately ending the Troc’s Ticketmaster contract and approving an alternate deal with Ticketfly, which takes over immediately.

Ticketfly will honor tickets sold via Ticketmaster and is now selling tickets to upcoming shows at the 1,200-capacity theatre including Ghostland Observatory, Lupe Fiasco, Anberlin and Switchfoot, James Black, Louis CK, The Civil Wars and Panic At The Disco on the books, among others.