Internal discussions prior to the changes included Banducci flagging the likely loss of Venues NSW in a September 2025 town hall, followed by confirmation of the October 2025 contract loss.

Hoy was promoted to chief executive in the interim, effective immediately, to drive growth and address competitive challenges, drawing on his background as COO and head of global ticketing.

The transition aligns with succession planning and Banducci’s goal to position the group for the next horizon of growth.

Banducci joined Ticketek in March 2025 to accelerate growth and modernize technology, though external market pressures limited impact.

TEG is executing a CEO transition, with Group CEO Brad Banducci stepping down at the end of May and Cameron Hoy, already serving as COO and Head of Global Ticketing, promoted to Group CEO effective June 1 to stabilize operations and respond to competitive pressure.

Under Banducci’s tenure, Ticketek lost several high-value contracts, notably a roughly $100 million Venues NSW deal now held by Ticketmaster and the Melbourne Park contract, signaling intensified competition in the market.

Banducci previously led Woolworths for eight years before stepping down in 2024 amid industry scrutiny on competition and pricing.

Market dynamics show Ticketmaster/LN Entertainment expanding its global footprint, while Ticketek’s European/UK revenue fell 46% from 2024 to 2025, though domestic Australian operations remained profitable.

Hoy emphasizes partnering with venues, promoters, and rights-holders to connect fans with memorable moments and to lead TEG’s entrepreneurial team.

In October 2025, Ticketmaster won the Venues NSW contract, a seven-year deal worth about $100 million across eight Sydney venues, marking a major competitive setback for Ticketek.

Hoy has been TEG’s Chief Operating Officer and Head of Global Ticketing since December 2023, overseeing Data Science, Analytics and Digital, and Product and Technology.

Banducci expressed gratitude to Hoy and confidence in the company’s future under Hoy’s leadership, while Hoy reiterated Ticketek’s mission and partnerships with venues, promoters, and rights-holders.