'Latin America is an incredibly important live entertainment market and a core focus of our global expansion efforts,' said Ticketmaster president Mark Yovich.
of a 51% interest in OCESA Entretenimiento, one of the region’s leading promoters and owner of Ticketmaster Mexico. Live Nation bought its stake from Latin American entertainment company CIE and media company Grupo Televisa for just over $400 million.
Under the new ownership structure with OCESA, Ticketmaster Mexico will transition from operating under a licensing agreement to integrating operations with the broader organization. With sales already totaling over 20 million tickets annually, the Mexican business will now gain access to Ticketmaster’s full suite of industry-leading technology, products and services.
“Ticketmaster has a strong foundation in Latin America,” said Ticketmaster regional vp of Latin America. “It’s fantastic to be building upon that by opening in new markets and strengthening our relationships with partners as our technology unlocks even better experiences for fans.” Ticketmaster plans to initially focus on increasing digital ticketing use in the Chilean market. It has similar plans for Brazil next year.
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