Stubhub Marketing Analysis Essay Example
company overview
StubHub is an online ticketing marketplace that connects third-party sellers and buyers. Founded in 2000 by former Stanford Business School students Jeff Fluhr and Eric Baker, StubHub was created to fill the gap in the traditional "scalping" market for sports and entertainment events. From its inception, StubHub’s main objective was to provide online services for buyers and sellers of tickets for sporting events, concerts, theater shows and other live entertainment events at fair market value.
StubHub’s aim was not to become a ticket broker, but rather an intermediary service provider. The business model’s main function was to connect fans and brokers who wished to sell their tickets at fair market price or above, and fans looking to buy them.
At its inception, StubHub adopted a partnership strategy to market its services instead of using large scale and costly advertising campaigns. StubHub’s partners include the New York Yankees, Washington Redskins and the University of Southern California, along with a total of nearly 60 other teams in the NFL, MLB, NBA, NHL and NCAA, as well as companies such as ESPN and AOL. (2010 Annual Report)
StubHub was acquired in January 2007 by eBay, the online shopping auction website, for $310M[i] after a three year run as one of the fastest growing private companies in the United States. StubHub reinvented the secondary ticket market back in 2000 and continues to lead through innovation. The company's unique open marketplace, dedicated solely to tickets, provides all fans the choice to buy or sell their tickets in a safe, convenient, and highly reliable environment.
Today, StubHub is the world’s largest ticket marketplace. “StubHub set sales records in 2010, driven by demand for World Series tickets and concerts.” (2010 Annual Report)
the secondary ticket market
The secondary ticket market is growing while the primary market is declining. Although there is no central source for tracking secondary
StubHub is an online ticketing marketplace that connects third-party sellers and buyers. Founded in 2000 by former Stanford Business School students Jeff Fluhr and Eric Baker, StubHub was created to fill the gap in the traditional "scalping" market for sports and entertainment events. From its inception, StubHub’s main objective was to provide online services for buyers and sellers of tickets for sporting events, concerts, theater shows and other live entertainment events at fair market value.
StubHub’s aim was not to become a ticket broker, but rather an intermediary service provider. The business model’s main function was to connect fans and brokers who wished to sell their tickets at fair market price or above, and fans looking to buy them.
At its inception, StubHub adopted a partnership strategy to market its services instead of using large scale and costly advertising campaigns. StubHub’s partners include the New York Yankees, Washington Redskins and the University of Southern California, along with a total of nearly 60 other teams in the NFL, MLB, NBA, NHL and NCAA, as well as companies such as ESPN and AOL. (2010 Annual Report)
StubHub was acquired in January 2007 by eBay, the online shopping auction website, for $310M[i] after a three year run as one of the fastest growing private companies in the United States. StubHub reinvented the secondary ticket market back in 2000 and continues to lead through innovation. The company's unique open marketplace, dedicated solely to tickets, provides all fans the choice to buy or sell their tickets in a safe, convenient, and highly reliable environment.
Today, StubHub is the world’s largest ticket marketplace. “StubHub set sales records in 2010, driven by demand for World Series tickets and concerts.” (2010 Annual Report)
the secondary ticket market
The secondary ticket market is growing while the primary market is declining. Although there is no central source for tracking secondary