SAN JOSE and LOS ANGELES, Calif., April 3, 2023 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) and Live Nation Entertainment, Inc. (NYSE: LYV), today announced a multi-year strategic partnership that names PayPal as the Preferred Payments Partner of Ticketmaster, providing fans a simple and flexible way to buy tickets to the live entertainment they love.
As a part of the partnership, fans will be able to pay with PayPal, PayPal Pay Later products, and Venmo* across Ticketmaster's platform. Additionally, PayPal Braintree will become Ticketmaster's primary global payment processor, speeding up the checkout process and giving fans direct access to event add-ons like merchandise and parking for purchase.
With PayPal's payment solutions front and center throughout the checkout experience on Ticketmaster, fans can confidently know they are buying tickets with a simple and trusted payment method supported by Purchase Protection1 and advanced fraud detection technology to help keep their payments safe. Fans will also benefit from the option to use one-time login, where they can choose to save their information for future purchases. They will now have access to multiple payment options across a total of 21 countries, including:
"Our goal is to seamlessly connect artists and event organizers with fans wherever they are in the world, and PayPal helps us take that to the next level with a truly global-reaching payments solution," said Mark Yovich, President, Ticketmaster. "This partnership gives fans continuity and confidence that they have a secure, trusted, and accessible payment method wherever in the world they happen to be attending an event."
"PayPal's scale and ability to provide payments options in global markets comes from the company's experience over several decades and has resulted in a strong reputation among consumers as a trusted payment method2," said Peggy Alford, EVP of Global Sales, PayPal. "Our data shows that consumers are nearly three times more likely to finish buying a ticket to a live entertainment event when they see PayPal as a checkout option, demonstrating the value the PayPal brand brings to this partnership3. This expanded engagement between PayPal and Ticketmaster will give fans the ability to check out in as little as seconds with flexible payment options they know and trust."
The partnership also includes an expanded global marketing program to drive broad engagement and fan loyalty through experiences and offers. For major festivals like Bonnaroo, BottleRock, and Lollapalooza, a limited number of fans using PayPal and Venmo will be rewarded with ticket discounts and Cashless credits to help them make the most of the live events they love.
*Venmo is available in the U.S. only. Availability and rollout of PayPal products referenced vary by country and are subject to change.
1 Available on eligible purchase. Limits apply: https://www.paypal.com/us/legalhub/useragreement-full#purchase-protection
2 Interbrand Best Global Brands 2022: https://interbrand.com/best-brands/
3 Nielsen Study: https://newsroom.paypal-corp.com/2020-01-14-PayPal-Increases-Conversion-Average-Order-Value-and-Net-Promoter-Score-for-Merchants
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering hundreds of millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com.
Ticketmaster is the world's largest ticket marketplace and the global market leader in live event ticketing products and services. Through official partnerships with thousands of venues, artists, sports teams, festivals, performing arts centres, and theatres, Ticketmaster processes 500 million tickets per year across 30+ different countries. Ticketmaster is a part of Live Nation Entertainment (NYSE: LYV).
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