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Business News (more headlines) 06-21-2014

SFX And Viagogo Sign Global Sponsorship Deal

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SFX Entertainment, Inc., the world's largest producer of live events and entertainment content focused exclusively on electronic music culture (EMC) and other world-class festivals, and viagogo, the world's largest ticket marketplace, today announced they have signed a five-year, $75 million international sponsorship agreement to provide a state-of-the-art ticketing marketplace for SFX event and festival brands on a global basis.

As SFX's official resale ticketing partner, viagogo becomes the global authorized source for resale tickets to all of SFX's festivals and events, even when they are sold out at the box office. viagogo now sells tickets to consumers in over 100 countries worldwide and will continue to extend its geographic reach to match the extensive SFX global footprint.

The deal reflects the growing trend for fans to travel to see marquee events, with millions of people now journeying across borders to see artists and festivals around the world. viagogo is well-placed to support this trend, with its global network of localized websites, customer support in multiple languages and a wide range of currency and delivery options. viagogo already has authorized partnerships with major event producers, including a number of Premier League clubs in the U.K. and the ATP World Tour Finals.

With more than 60 SFX brands around the world, the sponsorship will give fans the chance to resell their tickets on viagogo's market platform. The sponsorship will also enable viagogo to market and extend its brand throughout those global markets.

"A record number of people are traveling long distances to our premium electronic music events, so the ticketing experience has to be seamless," said Robert F.X. Sillerman, Chairman and CEO of SFX Entertainment. "This sponsorship will provide fans with a range of ticket options, no matter where they are in the world, what language they speak, or what currency they want to use. Every transaction is guaranteed by viagogo, and that is the assurance we require to provide our fans with flawless service, regardless of where they acquire their tickets."

Sillerman added, "viagogo's recognition of SFX as the only company operating around the world in Electronic Music, and thus the best way to expand their operations, also adds an integral element in our commitment to enhance our fans' experiences. Working together we have the key components to jump start our loyalty program and to offer unique benefits to our millions of fans."

Eric H. Baker, founder and CEO of viagogo, added, "viagogo is all about enabling consumers to buy any ticket, for any event, anywhere in the world. They can make the purchase in any language, in any currency and on any device. Thanks to viagogo, all global events are now local."

The deal extends the SFX global ticketing platform by adding a resale partner to previous acquisitions, which include Paylogic, Flavorus and Club Tix.

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