The live events industry is no stranger to problems. Many companies in the live events industry struggle to reach new attendees, organize events at large scale and make the most of their event budget (Fyre Fest, anyone?).
Ticketing is another facet of the industry that faces challenges and scrutiny, too, with large scale organizations like the Federal Trade Commission even calling for an examination of best practices. These obstacles are not new, and they are frustrating for organizers, fans and performers alike.
But while singers and sports teams have constantly evolved in their craft and production, many parts of the industry have remained stagnant. The events industry is ripe for disruption – and these four tech companies are poised to make a difference and turn the live events industry on its head.
It might seem obvious, but securing talent and performers is key to executing a successful concert or festival. Unfortunately, booking artists, organizing calendars and making proper payment can be tough to organize. Muzeek is an Australian SaaS company with technology designed to make event logistics more efficient with flexible software designed specifically for artists, venues, promoters, agencies, management companies and festivals.
One major issue it modernizes is invoicing and payments. There’s no need to use a separate platform because users can book, confirm, invoice and pay across an entire roster using the Muzeek software. It also integrates with social media channels, Spotify, Eventbrite, Paypal and more, which is a welcomed 21st century improvement compared to traditional forms of booking and invoicing.
However, the time suck of event marketing is a little less complicated thanks to a company called Splash, an all-in-one tool to plan, market, manage and measure the total impact of an event. For event planners, this solutions software puts every stage of the event lifecycle right at their fingertips in a way that would not be possible without today’s technology. The company boasts clients like WeWork and SoulCycle, and over 670,000 events have been thrown on Splash.
Project Admission is an innovative ticketing technology startup that is essentially changing the way digital tickets are distributed, tracked and redeemed.
The Nashville-based company created a technology that protects digital tickets by essentially registering them to the specific ticket holder – no more barcodes that can be easily duplicated. The company compares the security of their tickets to a plane ticket: only the person whose name is on the ticket can get on the plane. For fans, buying, transferring and reselling tickets is simple and safe.
As an added bonus for industry figureheads like artists, venues and event organizers, tickets powered by Project Admission provide crucial demographic data to help understand who is actually buying tickets and attending shows.
While this FinTech company isn’t wholly focused on live events, Affirm is actually disrupting an important aspect in the space: accessibility for fans.
It can be hard to find affordable tickets; according to the New York Attorney General’s Office, the average markup for tickets resold on the secondary market is 49 percent.
With ticket prices on the secondary market skyrocketing, Affirm’s partnership with Eventbrite allows attendees to pay for tickets in installments – meaning more fans can access events they love. Consumers who buy tickets through Affirm pay a small interest rate on their payments, which are paid monthly and completed in three or six months, but event planners incur no extra cost outside of the standard fees that Eventbrite charges.
Since ticket inflation is a problem in the industry, due to the advancement of bots and other scalpers, the secret to getting more people in the door could be FinTech options like Affirm.