Ticketmaster Reports First Quarter Revenue Gain of 15%; EBITDA* Increases 130% Over the Year Ago Period

Company Reports Cash EPS** of $0.05 for the First Quarter 2001



Apr 24, 2001, 01:00 ET from Ticketmaster Corporation

    LOS ANGELES, April 24 /PRNewswire Interactive News Release/ --
 Ticketmaster (Nasdaq:   TMCS) today released quarterly results for the period
 ended March 31, 2001, representing the first reported financial results since
 the completion of its combination with Ticketmaster Corporation, which was
 completed as of January 31, 2001.  (The unaudited financial information for
 the first quarter of 2001 and the comparative period gives effect to the
 combination with Ticketmaster Corporation as if the combination had occurred
 at the beginning of the period presented.  The unaudited results of operations
 are based on accounting for the combination at historical cost in a manner
 similar to that in pooling-of-interests accounting.)
     Revenues in the first quarter of 2001 increased 14.7 percent over the
 comparable year-ago period to $171.2 million.  EBITDA* in the first quarter of
 2001 was $18.4 million, compared to EBITDA of $8.0 million in the year ago
 quarter, an improvement of 130.3 percent.  Cash EPS** was $0.05 per share
 compared with $(0.03) per share in the year ago quarter.  First Call consensus
 for Cash EPS** for the first quarter of 2001 was $0.01.
     (*EBITDA - earnings before interest, taxes, depreciation, amortization,
 merger and other transaction costs, minority interest, advertising provided by
 USA Networks, Inc. for which no consideration was paid by the Company, equity
 income/loss of unconsolidated affiliates, investment losses, net and other
 income and expenses.  **Cash EPS - basic earnings per share excluding
 amortization, merger and other transaction costs, equity in income/loss of
 unconsolidated affiliates, non-cash advertising expense, investment losses,
 net).
 
 
      Financial Results
                                        Three Months Ended
                                            March 31,
      $ in thousands                    2001          2000          Change
      Revenues
       Ticketing operations           $150,108       $127,961        17.3%
       City guide and classifieds       20,928         16,975        23.3%
       Corporate and other                 149          4,258       (96.5)%
      Total Revenue                   $171,185       $149,194        14.7%
 
 
                                        Three Months Ended
                                             March 31,
      $ in thousands                    2001           2000         Change
      EBITDA*
       Ticketing operations            $30,233        $27,384        10.4%
       City guide and classifieds       (8,736)       (14,627)       40.3%
       Corporate and other              (3,088)        (4,765)       35.2%
      Total EBITDA                     $18,409         $7,992       130.3%
 
     "Our ability to successfully execute our plan as a growth company is
 demonstrated in our first quarter results, as well as our operating
 achievements.  When we combined our online and offline operations, we set an
 ambitious agenda to drive both revenue and cash flow and we believe our first
 quarter results confirm the strength of our combined operations," said John
 Pleasants, president and chief executive officer.
 
     Specific Highlights Include:
     -- Internet ticket sales grew to 29.5 percent of all tickets
     -- Acquired the assets of Evite and acquired ReserveAmerica
     -- Entered into a strategic partnership with America Online
     -- Reduced City guide and classified EBITDA* losses for the fourth
        consecutive quarter
     -- Match.com and its affiliate sites had an aggregate of 2.6 million
        unique users in March of 2001 which was more than three times the
        nearest competitor, according to Jupiter/Media Metrix
 
 
     Ticketing Operations
 
     First quarter revenues from Ticketing operations were $150.1 million,
 compared with $128.0 million in the year ago quarter, an increase of
 17.3 percent.  The revenue increase reflects an increase in the number of
 tickets sold, a 9.6 percent increase in revenue per ticket (from $5.44 to
 $5.96), and the acquisition of ReserveAmerica in February 2001.  Tickets sold
 increased from 21.8 million in the first quarter of 2000 to 23.6 million
 tickets in the first quarter of 2001 due primarily to the acquisitions of
 Admission Network, Inc. in April 2000, TicketWeb, Inc. in May 2000,
 Ticketmaster Oregon in December 2000, and the acquisition of an increased
 interest in Ticketmaster Ireland (now equaling 60 percent) allowing
 consolidation.  Gross transaction value for the first quarter of 2001 was
 $937.1 million compared to $811.6 million in the year ago quarter, an increase
 of 15.5 percent.
     Revenue from Ticketing operations in international markets increased
 29 percent in the first quarter over the comparable year-ago period primarily
 reflecting acquisitions in Canada and the acquisition of the additional
 interest in Ticketmaster Ireland.
     The Company continued to make strides in increasing its advertising and
 direct marketing revenue, capitalizing on the Company's relationship with
 8.6 million purchasing consumers, 3.6 million visitors to ticketmaster.com,
 and 13.3 million inbound telephone calls in the quarter.  In the first
 quarter, revenue from such sources incremental to traditional ticketing
 revenue equaled $0.18 per ticket sold.
     EBITDA from Ticketing operations in the first quarter of 2001 was
 $30.2 million compared with $27.4 million, an increase of 10.4 percent.  The
 Company achieved double digit Ticketing operations EBITDA growth while
 continuing to invest in new products and technology as well as significant
 market expansion.
     Online ticketing revenue was $49.5 million, compared to $29.0 million a
 year ago, an increase of 70.7 percent.  The percentage of tickets sold online
 across all properties was 29.5 percent compared with 27.9 percent in the
 fourth quarter of 2000.  Among the contributing factors to the increase in
 online sales were several successful Internet-only pre-sales for Bon Jovi, The
 Black Crowes & Oasis and U2 as well as continual product upgrades such as a
 new search engine which decreases the amount of time needed to purchase a
 ticket.  Gross transaction value in the first quarter for online ticket sales
 was $318.3 million.
 
 
     City Guide and Classifieds
 
     City guide and classifieds revenue increased 23.3 percent to $20.9 million
 in the first quarter of 2001 from $17.0 million in the comparable year-ago
 period.  Advertising revenue on city guides and personals subscriptions
 revenue both exhibited strong growth on a year over year basis.  EBITDA from
 City guide and classifieds in the first quarter was a loss of $8.7 million
 compared with a loss of $14.6 million a year ago with all of the improvement
 coming from the city guide operations.
     In the first quarter of 2001, Citysearch added new national advertisers
 such as Anheuser Busch, Honda Motor Co., Miller Brewing Company, Mars, Inc.
 and the American Automobile Association.  The Company also continued to
 introduce a variety of new local advertising products that should allow the
 Company to grow revenues while reducing costs.  "This represents the fourth
 straight quarter where we have achieved a significant reduction in operating
 losses from our city guide operations, despite the fact that the macro
 environment for Internet advertising presents certain challenges," said
 Pleasants.  "We remain committed to extending our position as the leading
 online local network while at the same time getting this operation profitable
 on a EBITDA basis."
     During the quarter, the Company acquired the assets of Evite, the
 Internet's largest invitation and rsvp website with approximately 1.2 million
 unique users per month.   "Evite is a strong fit with Citysearch and offers us
 some unique advertising opportunities," said Steven Trepp, president of
 Citysearch.  "Averaging 50,000 invitations sent each month, Evite allows our
 users to invite others to join them on what they are doing and where they are
 going based on Citysearch's unique localized content."
     The Company's personals operations attracted a monthly average in of
 2.2 million unique users in the first quarter of 2001, an approximate
 50.3 percent increase over the year ago period.
     In addition to its AOL partnership announced during the first quarter of
 2001, Match.com agreed to power the personals sites for Primedia's New York
 and Chicago Magazines.  Match.com also continued to support the promotional
 efforts of other TMCS properties such as helping to launch and drive traffic
 to Citysearch's Romance 2001 channel and selling incremental tickets to
 singles to attend local offline events for the Houston Rockets, Florida
 Panthers and the Atlanta Midtown Festival.
     "Our active profiles and subscriptions continue to grow significantly,
 making Match.com the place on the Web to meet others," said Cynthia Hennessy,
 president, Match.com.  "This online growth, coupled with our more than
 50 successful offline events this quarter, has helped not only grow our share
 of the market, but also increased usage and trial of this relatively new
 medium to meet others online."
     Extending its successful partnership with MSN in the United States,
 Match.com expanded its marketing efforts in the United Kingdom by working
 closely with MSN.UK, resulting in a significant increase in United Kingdom
 membership since its February 2001 launch.
     The Company also announced that on a going forward basis it will report
 its personals operation and its city guide operation as separate business
 segments for financial reporting purposes.  The city guide segment, as it will
 be reported going forward, had first quarter revenue of $12.4 million and an
 EBITDA loss of $9.0 million, compared to $10.1 million in revenue and an
 EBITDA loss of  $15.5 million in the year-ago quarter.  The Company has
 furnished to the SEC on Form 8-K guidance for the full year 2001 indicating it
 expects city guide revenue of $55.0 million and an EBITDA loss of $34.6
 million.
     The personals segment, as it will be reported going forward, had first
 quarter revenue of $8.5 million and EBITDA of $0.3 million, compared to
 $6.9 million in revenue and EBITDA of $0.9 million in the year-ago quarter.
 The Company has furnished to the SEC on Form 8-K guidance for the full year
 2001 indicating it expects personals revenue of $38.9 million and EBITDA of
 $3.6 million.
     "The personals business is a profitable business for us today on an EBITDA
 basis notwithstanding the fact that we continue to invest significantly in its
 long-term growth," said Pleasants.  "With our highly profitable Internet
 ticketing operation, two of our three Internet businesses are profitable today
 on an EBITDA basis, and we are driving the city guide business to that same
 position."
 
 
     Corporate and Other
     Corporate and other revenues decreased to $0.1 million in the first
 quarter of 2001, primarily due to the transfer of the Company's Electronic
 Commerce Service operation (in the second quarter of 2000) and TM Realty
 operation (in connection with the combination of Ticketmaster Corporation and
 Ticketmaster Online-Citysearch) to USA Networks, Inc. (Nasdaq:   USAI).  The
 EBITDA loss from Corporate and other declined from a loss of $4.8 million in
 the first quarter of 2000 to a loss of $3.1 million in the first quarter of
 2001, largely reflecting this same transfer.  The expense amounts in this
 segment in the current quarter reflect the corporate expenses related to our
 operation as a public company and our growth initiatives.  Excluding the
 transferred operations, these expenses were flat on a year over year basis.
 
 
     Strategic Partnership
     During the quarter, the Company announced a long-term strategic alliance
 with America Online.  Under the agreement, Ticketmaster will increase the
 distribution of its ticketing services and its extensive inventory through the
 new "AOL Box Office By Ticketmaster."  Citysearch local guides will offer AOL
 Moviefone's movie ticketing, making Citysearch a more extensive source for
 both ticketing and movie information.   And, Match.com will become the premier
 provider of personals to Love@AOL, continuing to build Match.com's scale and
 attractiveness to users.
 
 
     Audience and Traffic Highlights
     Total network traffic grew significantly during the quarter to an
 estimated 1.2 billion page views, an increase of 44.2 percent from the year
 ago quarter.  According to Jupiter/Media Metrix, TMCS' combined reach among
 home and work users was 10.7 percent in March and unique users were
 9.5 million in the March period, an increase of 23 percent from the year ago
 comparable period.
 
 
     TMCS Advertising on USA Networks
     During the quarter USA Networks provided advertising and promotional
 support to Citysearch as well as to certain partners of the Company in
 connection with strategic relationships.  The Company recorded a non-cash
 charge of approximately $4.1 million in the first quarter of 2001 related to
 such support.
 
 
     Conference Call
     The Company will host a conference call to discuss its first quarter
 results which is open to all parties.  The call will be held on Tuesday, April
 24, 2001 at 4:30 p.m. Eastern Time.  Those parties in the United States and
 Canada interested in participating in the telephone conference should call
 (415) 228-3887 (toll call) and use pass code Ticketmaster or listen on the Web
 at www.abouttmcs.com.  The call is scheduled to begin promptly at its
 appointed time, and all interested parties should be on the line by then.  In
 order to ensure participation, please dial in 15 minutes prior to the
 scheduled time.
     Replays of the conference call will begin approximately one hour after its
 completion and will run until 7:00 p.m. Central Time on May 1, 2001.  To hear
 the replay, parties in the United States and Canada should call 402-998-1758
 (toll call).  An online replay of the conference call will be available at
 www.abouttmcs.com.
 
     About Ticketmaster
     Ticketmaster (Nasdaq:   TMCS) operates the world's leading ticketing
 service; selling 83 million tickets valued at more than 3.2 billion dollars,
 through approximately 3,500 retail Ticket Center outlets; 20 worldwide
 telephone call centers; and ticketmaster.com.  Ticketmaster serves more than
 6,200 clients worldwide and acts as the exclusive ticketing service for
 hundreds of leading arenas, stadiums, performing arts venues, and theaters.
 The Company also operates Citysearch, a leading online local network enabling
 people to get the most out of their city and Match.com, the premier online
 matchmaking service.  Located in Los Angeles, California, Ticketmaster is
 majority owned by USA Networks, Inc. (USAI) and is a part of its Information
 and Services unit.  Ticketmaster was formed through the combination of the
 operations of Ticketmaster Online-Citysearch and Ticketmaster Corporation in
 January, 2001 and renamed Ticketmaster.
 
     Safe Harbor Statement under the Private Securities Litigation Reform Act
 of 1995
     This press release contains forward-looking statements about Ticketmaster
 (the "Company"), including statements concerning its future product plans.
 These forward-looking statements involve risks and uncertainties.  The
 Company's actual results could differ materially from these statements.  These
 forward-looking statements are based on the Company's expectations as of the
 date of this release and the Company undertakes no obligation to update these
 statements.  Among the risks and uncertainties that could adversely affect the
 Company's actual results are: that the Company may not realize the synergies
 and other intended benefits of the combination of Ticketmaster and
 Ticketmaster Online - Citysearch; that the Company may have difficulty
 overcoming problems associated with rapid expansion and growth; the dependence
 of the Company's business on entertainment, sporting and leisure events;
 quarterly fluctuations in the Company's revenues which could adversely affect
 the market price of the Company's stock; the risks of operating
 internationally; the dependence of the Company on its relationships with
 clients; the Company's future capital needs and the uncertainty of additional
 financing; the Company's dependence on key personnel and need to hire
 additional qualified personnel; control of the Company by USA Networks, Inc.;
 the potential for conflicts of interest between the Company and USA Networks,
 Inc.; the Company's need to continue to promote its brands; risks associated
 with competition; the Company's reliance on third party technology; network
 security risks; the Company's need to be able to adapt to rapid technological
 changes; liability associated with the information displayed or accessed on
 the Company's web sites; intellectual property infringement risks; risks
 associated with changing legal requirements on the Company's operations,
 including privacy concerns; litigation risks; the dilutive effect of future
 acquisitions; risks associated with the failure to maintain the Company's
 domain names; and the risk to its stock price associated with the Company's
 anti-takeover provisions.  Investors are encouraged to read the risks and
 uncertainties detailed in the Company's filings with the Securities and
 Exchange Commission.
 
     Ticketmaster is the owner or licensee of its name and logo trademarks and
 service marks.  All other trademarks and trade names are the property of their
 respective owners.
 
     Ticketmaster's corporate headquarters is located at 3701 Wilshire
 Boulevard, Los Angeles, California, 90010; 213-639-6100; info@citysearch.com.
 
 
                                  TICKETMASTER
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (in thousands)
 
                         ASSETS            March 31, 2001  December 31, 2000
     Current assets:                          (unaudited)           (a)
       Cash and cash equivalents                $125,126         $120,809
       Marketable securities                       2,019            7,938
       Accounts receivable, ticket sales          58,397           32,395
       Accounts receivable, trade                 27,163           29,710
       Contract advances                          13,489           10,551
       Prepaid expenses and
        other current assets                      19,336           14,905
          Total current assets                   245,530          216,308
     Property, equipment and
      leasehold improvements, net                 74,896           88,386
     Goodwill and other intangibles, net       1,162,679        1,185,948
     Due from USAi and affiliates                 10,834               --
     Other assets                                 58,363           52,301
     Deferred income taxes                         3,976            3,391
          Total assets                        $1,556,278       $1,546,334
 
        LIABILITIES AND STOCKHOLDERS' EQUITY
     Current liabilities:
       Current portion of long-term debt          $4,200           $4,778
       Accounts payable, trade                    12,753           10,652
       Accounts payable, clients                 129,338           97,687
       Accrued expenses                           66,496           67,618
       Due to USAi                                23,967               --
       Deferred revenue and other                 15,764           14,764
          Total current liabilities              252,518          195,499
     Long-term debt, net of current portion        4,879           13,092
     Due to USAi and affiliates                       --          181,411
     Deferred income taxes                           180               --
     Other long-term liabilities                  17,665            9,347
     Minority interest                             3,078            4,631
     Stockholders' equity:
       Common stock                                1,411            1,410
       Additional paid-in capital              1,694,042        1,516,484
       Accumulated other comprehensive loss       (5,940)          (3,618)
       Accumulated deficit                      (411,555)        (371,922)
          Total stockholders' equity           1,277,958        1,142,354
             Total liabilities and
              stockholders' equity            $1,556,278       $1,546,334
 
 
                                  TICKETMASTER
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                  (in thousands, except per share information)
 
                                               Three Months Ended March 31,
                                                  2001              2000
     Revenues:                                         (unaudited)
       Ticketing operations                     $150,108         $127,961
       City guide and classifieds                 20,928           16,975
       Other                                         149            4,258
          Total revenues                         171,185          149,194
     Operating costs and other expenses:
       Ticketing operations                       94,099           80,583
       City guide and classifieds                 13,543           13,388
       Other                                         142            5,930
       Sales and marketing                        21,840           19,892
       General and administrative                 27,239           21,559
       Depreciation and amortization              51,107           47,774
          Total operating costs and
           other expenses                        207,970          189,126
     Loss from operations                        (36,785)         (39,932)
     Other (income) expenses:
       Interest income                              (575)          (1,326)
       Interest expense                            1,649            1,923
       Equity in net (income) loss
        of unconsolidated affiliates                (515)           1,870
          Total other (income) expenses              559            2,467
     Loss before income taxes and
      minority interest                          (37,344)         (42,399)
     Minority interest in loss                      (553)            (368)
     Income tax provision                          2,842            6,099
     Net loss                                   $(39,633)        $(48,130)
     Basic and diluted net loss per share         $(0.28)          $(0.35)
     Shares used to compute basic and
      diluted net loss per share                 141,067          137,409
 
     Supplemental Financial Information (b)
     EBITDA (c)                                  $18,409           $7,992
     Cash EPS (d)                                  $0.05           $(0.03)
 
     Notes:
     (a) The December 31, 2000 balance sheet represents the combination of
         Ticketmaster Online-Citysearch and Ticketmaster Corporation.  This
         combination was accounted for as an exchange of assets between
         entities under common control in a manner similar to the pooling of
         interests method of accounting.
     (b) The accompanying supplemental financial information is presented for
         informational purposes only and should not be considered as a
         substitute for the historical financial information presented in
         accordance with generally accepted accounting principles.
     (c) EBITDA is defined as earnings before interest, taxes, depreciation,
         amortization, minority interest, merger and other transaction costs,
         advertising provided by USA Networks, Inc. for which no consideration
         was paid by Ticketmaster, equity in income/loss of unconsolidated
         affiliates, investments losses, net and other income/expense.
     (d) Cash EPS is defined as basic earnings per share excluding
         amortization, merger and other transactions costs, advertising
         provided by USA Networks, Inc. for which no consideration was paid by
         Ticketmaster, equity in income/loss of unconsolidated affiliates and
         investment losses, net.
 
                     MAKE YOUR OPINION COUNT -  Click Here
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SOURCE Ticketmaster Corporation
    LOS ANGELES, April 24 /PRNewswire Interactive News Release/ --
 Ticketmaster (Nasdaq:   TMCS) today released quarterly results for the period
 ended March 31, 2001, representing the first reported financial results since
 the completion of its combination with Ticketmaster Corporation, which was
 completed as of January 31, 2001.  (The unaudited financial information for
 the first quarter of 2001 and the comparative period gives effect to the
 combination with Ticketmaster Corporation as if the combination had occurred
 at the beginning of the period presented.  The unaudited results of operations
 are based on accounting for the combination at historical cost in a manner
 similar to that in pooling-of-interests accounting.)
     Revenues in the first quarter of 2001 increased 14.7 percent over the
 comparable year-ago period to $171.2 million.  EBITDA* in the first quarter of
 2001 was $18.4 million, compared to EBITDA of $8.0 million in the year ago
 quarter, an improvement of 130.3 percent.  Cash EPS** was $0.05 per share
 compared with $(0.03) per share in the year ago quarter.  First Call consensus
 for Cash EPS** for the first quarter of 2001 was $0.01.
     (*EBITDA - earnings before interest, taxes, depreciation, amortization,
 merger and other transaction costs, minority interest, advertising provided by
 USA Networks, Inc. for which no consideration was paid by the Company, equity
 income/loss of unconsolidated affiliates, investment losses, net and other
 income and expenses.  **Cash EPS - basic earnings per share excluding
 amortization, merger and other transaction costs, equity in income/loss of
 unconsolidated affiliates, non-cash advertising expense, investment losses,
 net).
 
 
      Financial Results
                                        Three Months Ended
                                            March 31,
      $ in thousands                    2001          2000          Change
      Revenues
       Ticketing operations           $150,108       $127,961        17.3%
       City guide and classifieds       20,928         16,975        23.3%
       Corporate and other                 149          4,258       (96.5)%
      Total Revenue                   $171,185       $149,194        14.7%
 
 
                                        Three Months Ended
                                             March 31,
      $ in thousands                    2001           2000         Change
      EBITDA*
       Ticketing operations            $30,233        $27,384        10.4%
       City guide and classifieds       (8,736)       (14,627)       40.3%
       Corporate and other              (3,088)        (4,765)       35.2%
      Total EBITDA                     $18,409         $7,992       130.3%
 
     "Our ability to successfully execute our plan as a growth company is
 demonstrated in our first quarter results, as well as our operating
 achievements.  When we combined our online and offline operations, we set an
 ambitious agenda to drive both revenue and cash flow and we believe our first
 quarter results confirm the strength of our combined operations," said John
 Pleasants, president and chief executive officer.
 
     Specific Highlights Include:
     -- Internet ticket sales grew to 29.5 percent of all tickets
     -- Acquired the assets of Evite and acquired ReserveAmerica
     -- Entered into a strategic partnership with America Online
     -- Reduced City guide and classified EBITDA* losses for the fourth
        consecutive quarter
     -- Match.com and its affiliate sites had an aggregate of 2.6 million
        unique users in March of 2001 which was more than three times the
        nearest competitor, according to Jupiter/Media Metrix
 
 
     Ticketing Operations
 
     First quarter revenues from Ticketing operations were $150.1 million,
 compared with $128.0 million in the year ago quarter, an increase of
 17.3 percent.  The revenue increase reflects an increase in the number of
 tickets sold, a 9.6 percent increase in revenue per ticket (from $5.44 to
 $5.96), and the acquisition of ReserveAmerica in February 2001.  Tickets sold
 increased from 21.8 million in the first quarter of 2000 to 23.6 million
 tickets in the first quarter of 2001 due primarily to the acquisitions of
 Admission Network, Inc. in April 2000, TicketWeb, Inc. in May 2000,
 Ticketmaster Oregon in December 2000, and the acquisition of an increased
 interest in Ticketmaster Ireland (now equaling 60 percent) allowing
 consolidation.  Gross transaction value for the first quarter of 2001 was
 $937.1 million compared to $811.6 million in the year ago quarter, an increase
 of 15.5 percent.
     Revenue from Ticketing operations in international markets increased
 29 percent in the first quarter over the comparable year-ago period primarily
 reflecting acquisitions in Canada and the acquisition of the additional
 interest in Ticketmaster Ireland.
     The Company continued to make strides in increasing its advertising and
 direct marketing revenue, capitalizing on the Company's relationship with
 8.6 million purchasing consumers, 3.6 million visitors to ticketmaster.com,
 and 13.3 million inbound telephone calls in the quarter.  In the first
 quarter, revenue from such sources incremental to traditional ticketing
 revenue equaled $0.18 per ticket sold.
     EBITDA from Ticketing operations in the first quarter of 2001 was
 $30.2 million compared with $27.4 million, an increase of 10.4 percent.  The
 Company achieved double digit Ticketing operations EBITDA growth while
 continuing to invest in new products and technology as well as significant
 market expansion.
     Online ticketing revenue was $49.5 million, compared to $29.0 million a
 year ago, an increase of 70.7 percent.  The percentage of tickets sold online
 across all properties was 29.5 percent compared with 27.9 percent in the
 fourth quarter of 2000.  Among the contributing factors to the increase in
 online sales were several successful Internet-only pre-sales for Bon Jovi, The
 Black Crowes & Oasis and U2 as well as continual product upgrades such as a
 new search engine which decreases the amount of time needed to purchase a
 ticket.  Gross transaction value in the first quarter for online ticket sales
 was $318.3 million.
 
 
     City Guide and Classifieds
 
     City guide and classifieds revenue increased 23.3 percent to $20.9 million
 in the first quarter of 2001 from $17.0 million in the comparable year-ago
 period.  Advertising revenue on city guides and personals subscriptions
 revenue both exhibited strong growth on a year over year basis.  EBITDA from
 City guide and classifieds in the first quarter was a loss of $8.7 million
 compared with a loss of $14.6 million a year ago with all of the improvement
 coming from the city guide operations.
     In the first quarter of 2001, Citysearch added new national advertisers
 such as Anheuser Busch, Honda Motor Co., Miller Brewing Company, Mars, Inc.
 and the American Automobile Association.  The Company also continued to
 introduce a variety of new local advertising products that should allow the
 Company to grow revenues while reducing costs.  "This represents the fourth
 straight quarter where we have achieved a significant reduction in operating
 losses from our city guide operations, despite the fact that the macro
 environment for Internet advertising presents certain challenges," said
 Pleasants.  "We remain committed to extending our position as the leading
 online local network while at the same time getting this operation profitable
 on a EBITDA basis."
     During the quarter, the Company acquired the assets of Evite, the
 Internet's largest invitation and rsvp website with approximately 1.2 million
 unique users per month.   "Evite is a strong fit with Citysearch and offers us
 some unique advertising opportunities," said Steven Trepp, president of
 Citysearch.  "Averaging 50,000 invitations sent each month, Evite allows our
 users to invite others to join them on what they are doing and where they are
 going based on Citysearch's unique localized content."
     The Company's personals operations attracted a monthly average in of
 2.2 million unique users in the first quarter of 2001, an approximate
 50.3 percent increase over the year ago period.
     In addition to its AOL partnership announced during the first quarter of
 2001, Match.com agreed to power the personals sites for Primedia's New York
 and Chicago Magazines.  Match.com also continued to support the promotional
 efforts of other TMCS properties such as helping to launch and drive traffic
 to Citysearch's Romance 2001 channel and selling incremental tickets to
 singles to attend local offline events for the Houston Rockets, Florida
 Panthers and the Atlanta Midtown Festival.
     "Our active profiles and subscriptions continue to grow significantly,
 making Match.com the place on the Web to meet others," said Cynthia Hennessy,
 president, Match.com.  "This online growth, coupled with our more than
 50 successful offline events this quarter, has helped not only grow our share
 of the market, but also increased usage and trial of this relatively new
 medium to meet others online."
     Extending its successful partnership with MSN in the United States,
 Match.com expanded its marketing efforts in the United Kingdom by working
 closely with MSN.UK, resulting in a significant increase in United Kingdom
 membership since its February 2001 launch.
     The Company also announced that on a going forward basis it will report
 its personals operation and its city guide operation as separate business
 segments for financial reporting purposes.  The city guide segment, as it will
 be reported going forward, had first quarter revenue of $12.4 million and an
 EBITDA loss of $9.0 million, compared to $10.1 million in revenue and an
 EBITDA loss of  $15.5 million in the year-ago quarter.  The Company has
 furnished to the SEC on Form 8-K guidance for the full year 2001 indicating it
 expects city guide revenue of $55.0 million and an EBITDA loss of $34.6
 million.
     The personals segment, as it will be reported going forward, had first
 quarter revenue of $8.5 million and EBITDA of $0.3 million, compared to
 $6.9 million in revenue and EBITDA of $0.9 million in the year-ago quarter.
 The Company has furnished to the SEC on Form 8-K guidance for the full year
 2001 indicating it expects personals revenue of $38.9 million and EBITDA of
 $3.6 million.
     "The personals business is a profitable business for us today on an EBITDA
 basis notwithstanding the fact that we continue to invest significantly in its
 long-term growth," said Pleasants.  "With our highly profitable Internet
 ticketing operation, two of our three Internet businesses are profitable today
 on an EBITDA basis, and we are driving the city guide business to that same
 position."
 
 
     Corporate and Other
     Corporate and other revenues decreased to $0.1 million in the first
 quarter of 2001, primarily due to the transfer of the Company's Electronic
 Commerce Service operation (in the second quarter of 2000) and TM Realty
 operation (in connection with the combination of Ticketmaster Corporation and
 Ticketmaster Online-Citysearch) to USA Networks, Inc. (Nasdaq:   USAI).  The
 EBITDA loss from Corporate and other declined from a loss of $4.8 million in
 the first quarter of 2000 to a loss of $3.1 million in the first quarter of
 2001, largely reflecting this same transfer.  The expense amounts in this
 segment in the current quarter reflect the corporate expenses related to our
 operation as a public company and our growth initiatives.  Excluding the
 transferred operations, these expenses were flat on a year over year basis.
 
 
     Strategic Partnership
     During the quarter, the Company announced a long-term strategic alliance
 with America Online.  Under the agreement, Ticketmaster will increase the
 distribution of its ticketing services and its extensive inventory through the
 new "AOL Box Office By Ticketmaster."  Citysearch local guides will offer AOL
 Moviefone's movie ticketing, making Citysearch a more extensive source for
 both ticketing and movie information.   And, Match.com will become the premier
 provider of personals to Love@AOL, continuing to build Match.com's scale and
 attractiveness to users.
 
 
     Audience and Traffic Highlights
     Total network traffic grew significantly during the quarter to an
 estimated 1.2 billion page views, an increase of 44.2 percent from the year
 ago quarter.  According to Jupiter/Media Metrix, TMCS' combined reach among
 home and work users was 10.7 percent in March and unique users were
 9.5 million in the March period, an increase of 23 percent from the year ago
 comparable period.
 
 
     TMCS Advertising on USA Networks
     During the quarter USA Networks provided advertising and promotional
 support to Citysearch as well as to certain partners of the Company in
 connection with strategic relationships.  The Company recorded a non-cash
 charge of approximately $4.1 million in the first quarter of 2001 related to
 such support.
 
 
     Conference Call
     The Company will host a conference call to discuss its first quarter
 results which is open to all parties.  The call will be held on Tuesday, April
 24, 2001 at 4:30 p.m. Eastern Time.  Those parties in the United States and
 Canada interested in participating in the telephone conference should call
 (415) 228-3887 (toll call) and use pass code Ticketmaster or listen on the Web
 at www.abouttmcs.com.  The call is scheduled to begin promptly at its
 appointed time, and all interested parties should be on the line by then.  In
 order to ensure participation, please dial in 15 minutes prior to the
 scheduled time.
     Replays of the conference call will begin approximately one hour after its
 completion and will run until 7:00 p.m. Central Time on May 1, 2001.  To hear
 the replay, parties in the United States and Canada should call 402-998-1758
 (toll call).  An online replay of the conference call will be available at
 www.abouttmcs.com.
 
     About Ticketmaster
     Ticketmaster (Nasdaq:   TMCS) operates the world's leading ticketing
 service; selling 83 million tickets valued at more than 3.2 billion dollars,
 through approximately 3,500 retail Ticket Center outlets; 20 worldwide
 telephone call centers; and ticketmaster.com.  Ticketmaster serves more than
 6,200 clients worldwide and acts as the exclusive ticketing service for
 hundreds of leading arenas, stadiums, performing arts venues, and theaters.
 The Company also operates Citysearch, a leading online local network enabling
 people to get the most out of their city and Match.com, the premier online
 matchmaking service.  Located in Los Angeles, California, Ticketmaster is
 majority owned by USA Networks, Inc. (USAI) and is a part of its Information
 and Services unit.  Ticketmaster was formed through the combination of the
 operations of Ticketmaster Online-Citysearch and Ticketmaster Corporation in
 January, 2001 and renamed Ticketmaster.
 
     Safe Harbor Statement under the Private Securities Litigation Reform Act
 of 1995
     This press release contains forward-looking statements about Ticketmaster
 (the "Company"), including statements concerning its future product plans.
 These forward-looking statements involve risks and uncertainties.  The
 Company's actual results could differ materially from these statements.  These
 forward-looking statements are based on the Company's expectations as of the
 date of this release and the Company undertakes no obligation to update these
 statements.  Among the risks and uncertainties that could adversely affect the
 Company's actual results are: that the Company may not realize the synergies
 and other intended benefits of the combination of Ticketmaster and
 Ticketmaster Online - Citysearch; that the Company may have difficulty
 overcoming problems associated with rapid expansion and growth; the dependence
 of the Company's business on entertainment, sporting and leisure events;
 quarterly fluctuations in the Company's revenues which could adversely affect
 the market price of the Company's stock; the risks of operating
 internationally; the dependence of the Company on its relationships with
 clients; the Company's future capital needs and the uncertainty of additional
 financing; the Company's dependence on key personnel and need to hire
 additional qualified personnel; control of the Company by USA Networks, Inc.;
 the potential for conflicts of interest between the Company and USA Networks,
 Inc.; the Company's need to continue to promote its brands; risks associated
 with competition; the Company's reliance on third party technology; network
 security risks; the Company's need to be able to adapt to rapid technological
 changes; liability associated with the information displayed or accessed on
 the Company's web sites; intellectual property infringement risks; risks
 associated with changing legal requirements on the Company's operations,
 including privacy concerns; litigation risks; the dilutive effect of future
 acquisitions; risks associated with the failure to maintain the Company's
 domain names; and the risk to its stock price associated with the Company's
 anti-takeover provisions.  Investors are encouraged to read the risks and
 uncertainties detailed in the Company's filings with the Securities and
 Exchange Commission.
 
     Ticketmaster is the owner or licensee of its name and logo trademarks and
 service marks.  All other trademarks and trade names are the property of their
 respective owners.
 
     Ticketmaster's corporate headquarters is located at 3701 Wilshire
 Boulevard, Los Angeles, California, 90010; 213-639-6100; info@citysearch.com.
 
 
                                  TICKETMASTER
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (in thousands)
 
                         ASSETS            March 31, 2001  December 31, 2000
     Current assets:                          (unaudited)           (a)
       Cash and cash equivalents                $125,126         $120,809
       Marketable securities                       2,019            7,938
       Accounts receivable, ticket sales          58,397           32,395
       Accounts receivable, trade                 27,163           29,710
       Contract advances                          13,489           10,551
       Prepaid expenses and
        other current assets                      19,336           14,905
          Total current assets                   245,530          216,308
     Property, equipment and
      leasehold improvements, net                 74,896           88,386
     Goodwill and other intangibles, net       1,162,679        1,185,948
     Due from USAi and affiliates                 10,834               --
     Other assets                                 58,363           52,301
     Deferred income taxes                         3,976            3,391
          Total assets                        $1,556,278       $1,546,334
 
        LIABILITIES AND STOCKHOLDERS' EQUITY
     Current liabilities:
       Current portion of long-term debt          $4,200           $4,778
       Accounts payable, trade                    12,753           10,652
       Accounts payable, clients                 129,338           97,687
       Accrued expenses                           66,496           67,618
       Due to USAi                                23,967               --
       Deferred revenue and other                 15,764           14,764
          Total current liabilities              252,518          195,499
     Long-term debt, net of current portion        4,879           13,092
     Due to USAi and affiliates                       --          181,411
     Deferred income taxes                           180               --
     Other long-term liabilities                  17,665            9,347
     Minority interest                             3,078            4,631
     Stockholders' equity:
       Common stock                                1,411            1,410
       Additional paid-in capital              1,694,042        1,516,484
       Accumulated other comprehensive loss       (5,940)          (3,618)
       Accumulated deficit                      (411,555)        (371,922)
          Total stockholders' equity           1,277,958        1,142,354
             Total liabilities and
              stockholders' equity            $1,556,278       $1,546,334
 
 
                                  TICKETMASTER
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                  (in thousands, except per share information)
 
                                               Three Months Ended March 31,
                                                  2001              2000
     Revenues:                                         (unaudited)
       Ticketing operations                     $150,108         $127,961
       City guide and classifieds                 20,928           16,975
       Other                                         149            4,258
          Total revenues                         171,185          149,194
     Operating costs and other expenses:
       Ticketing operations                       94,099           80,583
       City guide and classifieds                 13,543           13,388
       Other                                         142            5,930
       Sales and marketing                        21,840           19,892
       General and administrative                 27,239           21,559
       Depreciation and amortization              51,107           47,774
          Total operating costs and
           other expenses                        207,970          189,126
     Loss from operations                        (36,785)         (39,932)
     Other (income) expenses:
       Interest income                              (575)          (1,326)
       Interest expense                            1,649            1,923
       Equity in net (income) loss
        of unconsolidated affiliates                (515)           1,870
          Total other (income) expenses              559            2,467
     Loss before income taxes and
      minority interest                          (37,344)         (42,399)
     Minority interest in loss                      (553)            (368)
     Income tax provision                          2,842            6,099
     Net loss                                   $(39,633)        $(48,130)
     Basic and diluted net loss per share         $(0.28)          $(0.35)
     Shares used to compute basic and
      diluted net loss per share                 141,067          137,409
 
     Supplemental Financial Information (b)
     EBITDA (c)                                  $18,409           $7,992
     Cash EPS (d)                                  $0.05           $(0.03)
 
     Notes:
     (a) The December 31, 2000 balance sheet represents the combination of
         Ticketmaster Online-Citysearch and Ticketmaster Corporation.  This
         combination was accounted for as an exchange of assets between
         entities under common control in a manner similar to the pooling of
         interests method of accounting.
     (b) The accompanying supplemental financial information is presented for
         informational purposes only and should not be considered as a
         substitute for the historical financial information presented in
         accordance with generally accepted accounting principles.
     (c) EBITDA is defined as earnings before interest, taxes, depreciation,
         amortization, minority interest, merger and other transaction costs,
         advertising provided by USA Networks, Inc. for which no consideration
         was paid by Ticketmaster, equity in income/loss of unconsolidated
         affiliates, investments losses, net and other income/expense.
     (d) Cash EPS is defined as basic earnings per share excluding
         amortization, merger and other transactions costs, advertising
         provided by USA Networks, Inc. for which no consideration was paid by
         Ticketmaster, equity in income/loss of unconsolidated affiliates and
         investment losses, net.
 
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