AEG Buys Full Ownership Of AXS

Already a major stakeholder in the AXS ticketing platform, AEG has bought out its partners to claim 100 percent ownership.

AEG announced Sept. 19 it was buying out shares from Outbox Holdings and Flash Seats, giving it sole ownership over the company that services 167 pro sports teams and 300 venues around the world.

“In just over eight years, AXS now sells nearly 50 million tickets annually around the world and this acquisition positions both AEG and AXS for continued growth,” Dan Beckerman, President and CEO of AEG, said in a statement.  “As a team owner, music promoter and venue owner/operator, ticketing is core to AEG’s business and this transaction allows us to more closely align our global asset portfolio.  As an AXS client, we are focused on delivering innovation and product development that enhances the fan experience and creates opportunities to integrate data and generate new revenue streams for all AXS clients.” 

Last month AXS named two former Eventbrite executives, Shaun Eidson and Stephanie Streeter, to positions as VP of Sales for Music and Senior Director of Sales for Music, respectively. Prior to that the company unveiled its YouTube integration in June.

Last year AEG fully took the plunge into the secondary market by switching to AXS’ resale platform, ending its partnership with StubHub at The O2 and SSE Arena, Wembley in the U.K., and later for all its sports franchises and AEG-owned or- operated venues.

AXS was already in the secondary marketplace with Flashseats, but the introduction of the in-house AXS Marketplace signals a new focus on resale akin to rival behemoth Ticketmaster’s own recent efforts.