It’s amazing what can happen after non-compete clauses in golden parachute and other high-level executive exit packages expire.
Consider the case of 61-year-old Ticketmaster founder Fred Rosen. Three decades after roiling the fan concert experience with those dreaded service fees, he’s back as partner of start-up Outbox Enterprises, a competitor started by a former Ticketmaster CFO. As he tells New York Times reporter Janet Morrissey, latest in a line of reporters drawn to the Rosen rebound story, the idea is to stick it to his former Ticketmaster-Live Nation front row mates:
Rosen wants to cut out the middleman by putting ticketing back in the hands of arenas, concert halls and clubs, helping venues use their own websites to sell tickets, merchandise, and services directly. For all its success, he says, Ticketmaster seems outdated: “Did I really think the model that I created 30 years ago would last for 30 years? Nothing lasts for 30 years,” Rosen said.
Representatives of Live Nation and Ticketmaster declined to comment.
Although the odds of Rosen unseating Ticketmaster are high, media analysts and even former boardroom foe Barry Diller are unwilling to completely discount the wily industry veteran. He’s already partnered with Cirque du Soleil and Anschutz Entertainment Group, second largest U.S. live performance ticket seller behind Ticketmaster.