Ticketing For A Better Tomorrow
Moderator: Dave Brooks | Amplify
Andrew Dreskin | Ticketfly
Julia Hartz | Eventbrite
Bryan Perez | AXS
Jared Smith | Ticketmaster
What’s the future of ticketing?
Basically, it’s up in the air.
There are a few options. Dutch auctions, which wasn’t addressed. And, of course, dynamic pricing, which the industry doesn’t want to address.
“Agents, managers and promoters have been resistant to dynamic pricing,” Andrew Dreskin said. “Until there is a movement to variable based pricing, we’re going to be here next year.”
Yet Ticketfly has made an adjust-ment to the secondary market with the purchase of Lyte, which can be deemed a ticket reseller versus a ticket broker.
“Lyte buys the ticket back at relatively face value and sell it back to the secondary market,” Dreskin said. “It examines roughly 500 inputs from the secondary market and has proprietary technology and offers it to secondary buyers.”
Bryan Perez of AXS ticketing noted that that the brokers have consolidated in sports, with sports teams selling up to 30 percent of their inventory to professional resellers.
“Our perception is not different from Bryan’s,” Jared Smith of Ticketmaster said. “We can sit and talk about brokers, we can sit and talk about consolidation, we can talk about risk management, all of those things. But they are all 100 percent symptoms of the same disease: we don’t price the tours the first time.”
“What you said about promoters and agents being behind the curtain not wanting to stick their neck out and say, ‘Hey, I want to be part of changing this dynamic’ is part of the problem,” Julia Hartz of Eventbrite said. “But I think we all have an advantage with being able to drive and shift the conversation into a much more productive zone”
“We’re boiling the frog,” Perez said. “There is no longer P1 or P2 or P3. All our interfaces are now moving toward slider bars. … Tell us what you want to spend. Everything will be variably priced. It’s incumbent upon us to underwrite some of the promoters to some of the risk.
“You don’t want to miss too high then you’re left holding the ticket. Price too low, you’re pissed off because you’re scratching for every last dollar trying to get the percentage while you’re seeing all this money being made in the secondary market.”
Basically, as was pointed out, this conversation will not be occurring five years from now: “We’ll all have systems that will dynamically price inventory.”
– Joe Reinartz