US ticketing big Ticketmaster Leisure has introduced it’s shopping for Cape City-based Quicket in an effort to develop its footprint in Africa.
The worth of the deal has not been disclosed.
Ticketmaster, which is owned by New York Inventory Trade-listed Dwell Nation Leisure, processes some half a billion tickets a 12 months throughout the 30 markets during which it operates.
A report by analysis and advisory agency Customized Market Insights (CMI) estimates the dimensions of the worldwide ticketing market at US$60-billion, with a projected compound annual progress fee of seven.1% from 2024 to 2033.
In line with a press release, Ticketmaster goals to mix its model energy with Quicket’s self-service platforms and occasion organiser instruments to drive progress in South Africa, Nigeria, Uganda, Kenya, Zambia and Botswana.
“With the widespread adoption of smartphones and web entry, on-line ticketing has develop into more and more in style, providing flexibility and comfort to each occasion organisers and attendees,” stated Ticketmaster president Mark Yovich within the assertion.
“The market is characterised by steady technological developments, dynamic pricing methods, and a shift in direction of digital and hybrid occasion codecs, reflecting evolving shopper preferences and business tendencies,” stated the CMI report.
Fast progress
A Henley & Companions report forecasts that in the identical interval (2024-2033), Africa’s millionaire inhabitants will rise by 59%, fuelled by robust progress in key sectors corresponding to fintech, eco-tourism, enterprise course of outsourcing, software program growth, uncommon metals mining, inexperienced tech, media and leisure, and wealth administration.
“Trying forward, Africa’s youthful inhabitants and huge sources symbolize a major alternative. The continent’s rising center class and rising shopper spending energy make it a lovely marketplace for overseas companies looking for new progress frontiers,” stated Dominic Volek, group head of personal shoppers at Henley & Companions, in a weblog publish.
Quicket MD James Tagg will stay on the helm of the corporate, which can proceed to function as a standalone enterprise unit from Cape City as it really works to grasp its progress plans in the remainder of Africa. – © 2024 NewsCentral Media
