🎟️🇬🇧BBC says, "Buying Tickets Should Be Easier!"
176: NYC Here WE COME! April 11th.
Hey!
In an upcoming newsletter, I want to do a Q&A. Do you have questions, hit reply and let me know what you want to know about.
April 11th in NYC: me, you, and a whiteboard?
“Winning Business in Any Market” will focus on:
Understanding your market so that you can create new, profitable opportunities.
Making sense of data so that you can make actionable decisions.
Setting SMART goals that you can use to push your business forward.
I’ll be at The Coalition for Ticket Fairness event in Hollywood next week on Tuesday, Wednesday, and Thursday. I’m on a panel about competition and legislation with Eric Fuller, Brian Berry, and more.
Get your tickets here!
Going to be there?! Let me know.
To the Tickets!
PS. I put together some rough thoughts on the ‘Fair Ticket Act’ last night after I saw it announced.
I. The BBC looks at tickets from a solution based POV:
I don’t know how workable all of these solutions are, but it is an interesting thought experiment.
Main point: Change begins with hope.
I’m hopeful that there can be a better customer experience for ticket buyers.
It all begins with the customer: I hear a lot of lip-service to fans and customers at conferences and in conversations, but actions speak louder.
Which goes to say: as much as things have changed, they are much the same.
A lot of the ideas are at heart pointed directly at the customer:
All-in pricing
Improved backend technology
Simpler or eliminated queues
IMO, some bullets:
There often feels like a bit of “killing the golden goose” to some of these practices to me.
Prices have been a problem, you only have to look at the unsold tickets on the secondary market or the lack of ticket buyers at a lot of events. Revenue and ticket sales can often be a lagging indicator of a real issue.
As we will get into below, your profit isn’t your customer’s problem. You have to look at the customer right now to see what they really value.
Global debt is extremely high right now. In the US, $16.9 trillion. We’ve seen this scenario play out in the past…there’s a limit to how much consumer debt folks can take before the economy starts to buckle.
The area where I see the big challenges in the concert industry is with newer, smaller acts. They don’t have the power to negotiate strong deals or make their tours viable in a lot of cases. It isn’t just a band. At a certain point, it threatens numerous venues, bars, and careers.
The need for better technology solutions can feel like a big duh at some points. I know a lot of tech guys outside of tickets and they have tools and solutions that lap many ticket solutions.
Also, one idea that came back to me over and over again after INTIX was that too much “technology” is overhyped and oversold as being “revolutionary” and it is the “same old, same old.” Again, I’m not a technology person, but when you hear something many times…you do have to ask whether or not something is going on.
Resale more honest?! Yes. But the whole buying experience should be a bit more honest or above board. There are tools to make the process better for folks. The IMG shows in the DMV do a good job on a mass level. Pearl Jam. The Dead. Garth Brooks. These are all models that can work.
II. 4 Principles of Strategy From Sun Tzu:
Strategy is about repeatable success.
The objective is sustainability of your enterprise.
You don’t win by long battles. You want to compete where you can win.
Allow the competition an out. Or, destroy them completely.
Treat people well. They’ll stick with you.
This isn’t directly related to tickets because it doesn’t show a single ticket. Roger talks about customers at the end. This one clip sums up everything about my work and everything all of us need to keep in mind now.
The customer is the ruler.
What does the customer want?
How can I create value for the customer?
What does the customer value?
III. 90% of tickets for sale on Viagogo in New Zealand are from touts:
The rest of the world treats the secondary market differently…I repeat.
The Big Idea: I’ll be on a panel at the Coalition for Ticket Fairness in Hollywood, March 1-2. Come say, “Hey!” if you are there.
I share these articles because folks ask me how the secondary market differs from country to country.
Everywhere is different than the US.
Right now, we are seeing people in New Zealand, Australia, and the UK aggressively defending their right to limit resale.
In Singapore, they have international acts returning and the government there is concerned about the role of resale.
To Know: It is a case by case situation.
The analysis in the article about Singapore is thoughtful and provides an interesting perspective on the topic.
Bonus: Touting of Premier League tickets is estimated at £50m.
IV. Price floors for BRUCE in Tulsa?!
I’m a believer in the Bill Parcells’ idea that you are what your record says you are.
The Big Idea: Outside of a few coastal markets, Bruce Springsteen isn’t as big of a draw as you’d think.
What does this mean?
It isn’t crazy to see Bruce tickets go for prices cheaper than the beer you’ll buy once you get there.
P.S. 7 lessons on pricing from Bruce’s launch.
My favorite: your profit isn’t your customer’s problem. They don’t care what you think something is worth. Is it worth that to them?
What Does This Mean?
It probably means that you’ll see a lot of tickets floating around for the stadium shows in the second half of 2023.
Will it be a hit to Bruce’s brand?
I’m not sure it even matters at this point.
V. Links:
Colin Meloy of The Decemberists had ChatGPT write him a song:
An interesting experiment and his conclusion is spot on.
Also, I’m guessing a good band can make my grocery list sound interesting.
Innovation!
With more sports gambling has come more gambling addiction:
I figured this would be the end result.
Linktree: Find everything I’m up to.
Join the ‘Talking Tickets’ Slack Group. Almost 300 people from around the world.
Cover Genius will be at the TPC in Birmingham in March.
You’ll be able to find out how refund protection can:
Generate a new revenue stream that can equal over $100,000 a year in new revenue.
Why refund protection helps guests by tickets and gives them peace of mind. 48% uptake should tell you a little bit.
How offering these options improves customer service including a boost to the all-important NPS score. Cover Genius has a 65…better than the 43 of the newsletter!
Don’t forget to mark your calendars. I’m coming to:
London
NYC
Sydney
And, more this year.
Want me to come to your town?
Let me know and let’s figure it out!
Great podcast conversations: Take your business to new heights by learning from the best in the business.