Business model for predicting concert ticket supply
Hi everyone, I am currently working on https://concertforecast.com which is a newsletter service that would alert you when your favorite concert tickets are going to sell out. I've integrated it to Spotify to pull in each users favorite artists.
I am however running into a problem with monetization though. Right now I can't decide if there's enough added value to charge for the service. Doing some casual user research from friends, it seems like most people decide last minute to buy concert tickets and end up paying way over face value. Or they can't even buy concert tickets because the bots buy up all of the tickets first.
I feel like it's difficult to charge a subscription fee or something off of people planning ahead for concerts. I know there are services like Hopper for airlines that monetize off of a cut of the purchase if the customers purchase through their service.
Any ideas or feedback is appreciated!
I would brainstorm by looking at the value chain for concert/festival/event tickets. Which parties are currently making money on their sales, and how can you help them further with the data you already have. You got email adreses for a certain event, so you might be able to promote other related events to them. Or maybe allow festivals to upsell other tickets that relate to the event (camping site tickets, tokens etc). Or maybe people need a hotel whenever they buy a ticket. I see a lot of options ;)
I find most people who book in for a concert will check the details on the event website.
IF you could get enough attention as the 'go-to' website for all things concerts. Maybe you can apply an affiliate marketing option.
For a business idea like yours, I would imagine keeping it free would be more ideal. More traffic is what you need.
However, you can;
Link to the events or concerts and whenever anyone buys a ticket you will receive a commission payment.
This comment was deleted 6 years ago