Ticketmaster has agreed to pay Songkick’s owners $110 million and acquire the concert discovery and ticketing platform’s remaining assets as a years-long legal battle comes to an end.
The out-of-court settlement was reached more than two years after Songkick, which sold tickets directly to fans through artists websites and fan clubs, launched litigation against Ticketmaster and its parent company Live Nation, alleging antitrust violations, anti-competitive behaviour and intentional interference.
The case dramatically escalated when Songkick last year filed an amended complaint alleging Ticketmaster employed a former CrowdSurge executive who hacked its system and snatched trade secrets and confidential data (Songkick acquired CrowdSurge in June 2015).
“We are pleased that we were able to resolve this dispute and avoid protracted and costly legal proceedings, while also acquiring valuable assets,” said Joe Berchtold, president of Ticketmaster parent Live Nation, in a statement.
“We are glad to have resolved this litigation and thank all the employees, artists and industry partners who contributed so much to our many successes over the last decade,” added Songkick CEO Matt Jones.
Songkick, which at its peak in 2015 helped Adele sell tickets to her shows, sold off a number of assets to Warner Music Group in July last year, including its Website and trademark. The platform, which boasted 6 million-plus concert listings and 15 million monthly users, later revealed it would shut down.