A ticketing service called Ticketometer that’s currently in beta mode promises that every gig can be profitable. What could this mean for the entertainment industry?
Poorly attended concerts lose musicians and venues money and are disappointing for fans, but an innovative new ticketing service in the US, Ticketometer, hopes to eliminate the problem by guaranteeing artists play to a packed audience.
First the artist sets up their show on the site by entering the city, date, ticket price and then, most crucially, the “set-off point” — or minimum number of tickets needed to sell to make the show profitable. The artist promotes the show via their website and social media, and fans purchase tickets through Ticketometer. Once the set-off point is reached the artist is notified to reconfirm the event, and fans are charged. If the set-off point isn’t reached then the show is removed and fans fully refunded. Gauging interest before an event means musicians can create shows in cities or towns previously thought to be risky, and are in a better position to negotiate with venues. Venues benefit as pre-sold attendance guarantees business, and the concept is risk-free for fans. Though the current site is in beta, more functionality is being added with more connectivity to social media to benefit artists, venues and fans.
By bringing musicians to the places they’re most wanted, Ticketometer aim to create a win-win situation for all parties involved, saving time and money. Could this idea by expanded to help others in the entertainment industry?
Springwise is an independent innovation firm that seeks out the most promising new business ideas around the world.