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Denver awards venue ticket business to AXS
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- Staff Denver Business Journal
Denver has chosen AEG Live's AXS as the exclusive ticket seller for all of the city's venues, including Red Rocks Amphitheatre, Boettcher Concert Hall and the Buell Theatre.
The Denver Post reports the five-year contract guarantees AXS and the city each about $4 million in net revenue over the five-year contract. AXS will get $3 for each ticket it sells, and Denver has guaranteed to sell at least 300,000 tickets each year through AXS. And AEG Live has guaranteed it will book enough shows at the city-owned venues to sell at least 275,000 tickets a year.
Both parties will penalties if they fall short of their guarantees. Denver has not had an exclusive arrangement with a ticket seller before.
AEG Live, the company controlled by Denver billionaire Philip Anschutz, started AXS in 2011.
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