Live Nation Entertainment and PayPal Sign Multi-Year Deal To Expand Simple and Secure Payments to Fans Buying Tickets Worldwide

Rhea-AI Summary

PayPal (NASDAQ: PYPL) and Live Nation Entertainment (NYSE: LYV) have entered a multi-year strategic partnership, designating PayPal as Ticketmaster's Preferred Payments Partner. This collaboration allows fans to use various PayPal payment options, including PayPal Pay Later and Venmo, across Ticketmaster's platform. Key features include enhanced security measures, quick checkout, and access to ticket add-ons like merchandise. This partnership aims to boost ticket sales by leveraging PayPal’s global reach, as studies indicate consumers are nearly three times more likely to complete a ticket purchase when PayPal is available at checkout.

Positive

• PayPal named Preferred Payments Partner for Ticketmaster, increasing visibility and engagement.
• Partnership enhances payment security and checkout speed, improving customer experience.
• Expanded global marketing initiatives, including discounts for PayPal users at major festivals.

Negative

• None.

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:

• PayPal Checkout: Gives fans a trusted, secure way to pay, letting them choose from whatever payment methods they have on file, including credit card, debit card, PayPal balance, bank withdrawal, and more.
• PayPal Pay Later: Allows fans to pay for purchases evenly over the course of weeks or months in fixed amounts, helping manage their budget while still enjoying their favorite artists and teams.
• Venmo: Offers Ticketmaster fans in the U.S. the option to split their payments upon purchase in the social app and through Venmo checkout.

"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

Media Contact
Tom Hunter
thhunter@paypal.com

About PayPal 
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.  

About Ticketmaster
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).

---

View original content to download multimedia:https://www.prnewswire.com/news-releases/live-nation-entertainment-and-paypal-sign-multi-year-deal-to-expand-simple-and-secure-payments-to-fans-buying-tickets-worldwide-301787863.html

SOURCE PayPal Holdings, Inc.

FAQ

What is the new partnership between PayPal and Live Nation about?

PayPal has become the Preferred Payments Partner for Ticketmaster, enhancing payment options for fans.

How will PayPal's services benefit Ticketmaster customers?

Fans can use PayPal, PayPal Pay Later, and Venmo for easier and more secure ticket purchases.

What impact might this partnership have on PayPal's stock (PYPL)?

The partnership could potentially increase PayPal's transaction volume, positively impacting its stock performance.

When was the PayPal and Live Nation partnership announced?

The partnership was announced on April 3, 2023.

What payment options does PayPal offer through Ticketmaster?

PayPal offers Checkout, Pay Later, and Venmo as payment options on Ticketmaster.