Ticketmaster, a subsidiary of Live Nation Entertainment, has announced the acquisition of Quicket, a major ticketing platform based in South Africa. This strategic move marks a significant step in Ticketmaster’s expansion into the African market. Quicket, known for its strong presence in South Africa and other African countries, will now operate under the Ticketmaster brand, enhancing the company’s ability to provide advanced ticketing solutions across the continent.
Quicket, founded in 2011, has grown to become one of Africa’s leading ticketing platforms, known for its user-friendly interface and robust technology. The platform has been instrumental in ticket sales for a wide array of events, including music concerts, festivals, theater productions, and sports events. By integrating Quicket’s technology and market insights, Ticketmaster aims to enhance its service offerings and provide a seamless ticketing experience to a broader audience.
This acquisition aligns with Ticketmaster’s global strategy of expanding into emerging markets and leveraging local expertise to cater to diverse customer needs. Africa, with its rapidly growing entertainment industry and increasing internet penetration, presents a lucrative opportunity for growth. The partnership with Quicket allows Ticketmaster to tap into this potential and offer its global standard of service to African consumers.
The global online event ticketing market is projected to grow significantly in the coming years. In 2023, the market size was valued at approximately USD 58.75 billion and is expected to reach USD 81.75 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8%. This growth is driven by the increasing adoption of digital ticketing solutions, the rise in smartphone usage, and the convenience of mobile ticketing platforms.
In the Middle East and Africa (MEA) region, the market is experiencing robust growth due to the rapid adoption of smartphones and the proliferation of internet connectivity. Countries such as South Africa, Nigeria, and Kenya are leading this surge, with a growing number of consumers opting for online ticketing services.
The acquisition of Quicket by Ticketmaster not only signifies a strategic expansion but also highlights the growing importance of the African market in the global entertainment landscape. With Quicket’s strong local presence and Ticketmaster’s global expertise, the combined entity is well-positioned to capture a larger share of the market and provide innovative solutions to event organizers and attendees alike. This move is expected to foster the development of the local entertainment industry by providing better access to ticketing services and enhancing the overall event experience.
As more consumers embrace digital ticketing, the partnership between Ticketmaster and Quicket will likely drive further innovation and set new standards in the industry. Under the terms of the agreement, Quicket will continue to operate as a standalone business unit from its headquarters in Cape Town, under the continued leadership of its Managing Director, James Tagg. The financial details of the transaction have not been disclosed.
This acquisition comes at a time when the African live events industry is experiencing significant growth, driven by increasing disposable incomes, growing urbanisation, and expanding internet penetration. With the combined strengths of Ticketmaster and Quicket, the future of ticketing in Africa looks bright.
