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Concert Tickets

Price discovery and optimization for concert tickets

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Summary

Research-based price optimization

Promoters are often forced to rely on historical data or “gut feel” when it comes to determining ticket prices.

We use a proprietary auction model where fans pay what they think is fair. Some fans will think it’s worth more; others will place less value.

Using a sealed-bid mechanism, no one knows what anyone else bid — so you aren’t incentivized to outbid/underbid someone else.

Then, we run seven auctions over the same number of days. A bid on day one is automatically entered into the following day’s auction, until the person gets a ticket or all auctions have run.

The result? Fans determine the optimal price for you.

Challenge

Historic box office data does not represent the current market conditions, nor does it help discover the individual price each fan is willing to pay for a concert ticket.

Solution

Pay what you want

Academic and economic research finds that auction pricing in the primary market significantly improves price discovery, roughly doubles artist revenues and disincentivizes secondary market players from scooping up low-priced tickets and reselling them on the secondary market.

Hosted solution

By linking to an event landing page hosted by OneWeek, sellers enjoy a full suite of seller tools, including the OneWeek auction, user management, payment processing, data analytics, and ticketing issuance.

API integration

For sellers with an existing ticketing platform and a development team, our API can be utilized for running the auction and triggering email events that fire on any ticketing platform the seller chooses to integrate with.

Results

What you can expect

  • - Increased revenue
  • - Improved price discovery
  • - Increased volume of tickets sold
  • - Decreased incentives of the secondary market
  • - Delight fans while increasing your margins
  • - Protect your bottom-line with a minimum ticket price

Our unique 7 auctions over 7 days mechanism allow for a mutually beneficial process to determine what price the market is willing to bear.

It's not rocket science.
It's rock-n-roll!

- Jim Green, Green Machine Concerts

If you’re ready to bring some science into your ticket pricing strategy, get in touch with us today. We will be happy to answer your questions, address your concerns, and work with you to ensure that your business and everyone else involved has a great day!

Use cases for OneWeek

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