The BIG Ticket: Australia's Live Business Needs a "Collaborative" Approach
Tuesday, February 18, 2025
Hi!
Did you have a nice weekend?
We had a holiday here in the US.
I spent it at the boy’s soccer matches.
He’s prepping for a college showcase in 2 weeks.
Today, I take you to Australia.
A favorite location.
If you’ve never been, it is amazing!
That’s the famous, Bondi Beach.
In Australia, Live Performance Australia’s CEO discussed the need for a “collaborative” approach to success for the live music industry.
I agree.
This is a lesson for all of us.
We need to think about our businesses as hubs in a network.
We need to nurture the network effects.
What does “network effect” mean?
The simplest way to think about network effects is that is a business that benefits from the connection of people and other supporting businesses/industries.
Why does this matter for us?
First, putting on a concert, a game, or a show is never exclusively done by you.
You have partners in F&B.
You have merch partners.
You might have outsourced staff.
It is also important because the world around you matters as well.
Your neighborhood.
The restaurants and hotels nearby.
The public transportation.
Everything.
So, you want to look at the entire experience to maximize how your guests are going to feel about their night with you.
Second, you can cultivate this network to enhance the experience.
When I worked at STG in Seattle, we had restaurant and hotel partners that had our endorsement and quality that made us feel comfortable offering these solutions to guests.
In NYC, I cultivated a network of concierges, maitre d’s and other folks that would enable me to be the “guy” for my clients.
The important idea is that I could use my network to elevate the experience, making it more likely that people would buy from me again.
Third, seeing the system you are a part of from a more holistic POV allows you to see more opportunities.
My question to you: Realizing you are part of a network, how are you going to enhance the value of the experience for your guests?
Dave
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