Ticketmaster is one of the most hated companies on the internet. A simple Google search will result in hordes of customers who are unhappy with their Ticketmaster experience. The reasons for the dislike are numerous, however the ticket-selling company has recently vowed to clean up their image.
However, the anti-Ticketmaster sentiment might finally be appearing on the company’s bottom line. In the first quarter of 2009, Tickmaster profited just over $7 million. Compared to last year’s first quarter profit of nearly $33 million, that’s a drop in profit of nearly 80%.
The problems for Ticketmaster include fewer tickets being sold and the stronger dollar cutting into their international ticket selling profits. A few months ago, some industry experts thought that Ticketmaster could be heading into bankruptcy. Now, those same experts are backing off of those claims and think Ticketmaster should be able to survive the global economic downturn.