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Czech Ticketstream withdraws from Greece December 10, 2006

Posted by grhomeboy in Business & Economy, Music Life.

The Czech online event ticket sales company Ticketstream sold franchising rights to a new company, Ticketstream Ukraine. It will be the first company to provide online ticket purchasing throughout Ukraine.

The price of the transaction was undisclosed, with Ticketstream divulging only that it will receive a percentage of Ukraine’s annual profit. Ticketstream Ukraine opened its first office in Kiev last November, and will offer online sales and credit card payments for tickets to cultural, sports and entertainment events.  

According to the Kyiv Post, Ticketstream Ukraine will partner with Germanos Telecom Ukraine, a subsidiary of the Greek-based mobile phone retailer Germanos SA that operates as the official ticket agent for Ukraine’s Ticketstream, and with Euroset, a major Russian mobile handset retailer. Both intend to leverage their partnerships with Ticketstream to expand their sales network.

Currently, Ticketstream operates in the Czech Republic; in Russia through a daughter company; and in Bulgaria, Greece, and Ukraine through a franchise system. However, the company is considering closing its Greek office, as according to company representatives they don’t find enough events to sell here in Greece. The company will make a decision regarding the closure of the Greek office in about a month.

EDITOR’S OPINION > The reason, for closing the Greek office, is possible to be due to the last “fiasco” related to The Rolling Stones European tour and live performence in Athens which was cancelled. We called this as a “fiasco” because the local organizers, DiDi Music, at first refused to return the ticket-price plus the surcharge, in whole, back to the eligible individuals who opted for on-line ticket purchases via their system. Finally, the whole amount was returned. On the other hand, poor sales during a number of summer concerts lead to cancellations of those performances.

For more detailed background information you may browse through our ENTERTAINMENT MUSIC category. That’s, however, our opinion, we may or may not be wrong!

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