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Festival Tickets

Price discovery and optimization for festival tickets

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Summary

Festival ticket price discovery for VIP and GA tickets

Sure, you can reward early-birds with lower-priced ticketing tiers, but that just increases profit-margins for scalpers and the secondary market, at your expense.

“We’re in an industry that prices its product worse than anybody else,” stated Terry Barnes, former chairman of Ticketmaster, to the Wallstreet Journal. Promoters have imperfect tools to help them determine ticket prices. These tools tend to be a combination of dated historical data and gut feel.

But what if there was a better way?

OneWeek Tickets is a ticket sales platform that helps venues, artists, and promoters optimize festival ticket pricing. We maximize festival ticket sales volume and revenues with auction-based price discovery for any event.

Challenge

Regardless of the price or percent of tickets you’ve sold in previous festival years, you’ve left money on the table. For GA tickets, and especially VIP packages, there is a market fight to scoop up tickets to your event. How can you ensure you’re setting the fairest price for everyone involved, as well as maximizing your revenue and sales volume?

Solution

Pay what you want

Academic and economic research finds that auction pricing in the primary market significantly improves price discovery, roughly doubles promoter revenues, and minimizes the incentive of secondary market players to scoop up low-priced tickets and resell them on the secondary market.

OneWeek Tickets is different because our auction design utilizes a 7-day recurring blind auction, providing data to sellers and opportunities to buyers to engage in a conversation which results in the optimal market price to be discovered for any event.

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

  • - Increase revenue
  • - Improve price discovery
  • - Increase volume of tickets sold
  • - Decrease 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

Ready to improve your ticket pricing strategy?

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