I posted a piece with predictions for the secondary market in 2018, but I have more predictions…so I need to do a part 2.
Again, I asked people in the ticket industry…what is the biggest challenge and biggest opportunity in growing the industry in 2018.
Challenge: Biggest challenge this year is probably going to be transferability of tickets – TM Presence, Flash Seats, mobile transfer (SeatGeek QR codes via their app, TM mobile app)
Opportunity: Biggest opportunity is digital ticketing integrations – i.e. NFL deal with both Ticketmaster and StubHub
Challenge: I think the biggest challenge they will face is this fan verification software/algorithms, that many primary companies are rolling out. I think this is just the beginning, and will be used to limit access to the secondary and in-turn, if they aren’t careful, make things more difficult for fans by making them jump through hoops.
Opportunity: I think these secondary companies have data on lock. Leveraging that data is key. It’s why we work with certain brokers – because that data is GOLD! It helps increase our leads, understand pricing trends, etc.
The primary and secondary markets are becoming one Market-how do you bring value to the food (pun intended)chain.
Challenge: Smaller companies in the secondary market will continue to feel pressure as the primary market continues to push for a greater share of secondary revenue through alignment with consolidators (e.g., DTI, TicketGalaxy, Dynasty) and online marketplaces (e.g., StubHub, SeatGeek).
Opportunity: In the race for efficiency afforded by online marketplaces, a void has developed at the high-end of the secondary ticket market. With most providers, it’s hard to talk to a true expert on the phone who can answer more than very basic questions. Is food and beverage included in the price of the club seat? Will this parking pass work for a 19 foot van? Where in the stadium are the acoustics best for this concert? As nearly all players compete on price, perhaps there is an opening at the high end of the ticket market to compete on customer service?
BTW, I’ve opened up 8 spots in my private mentor program for 2018 and only a few spots remain.
To apply for the program, send me an email to dave @ davewakeman.com with your answer to the following questions:
1. What stage are you at with your business or career? Can you tell me a little bit about what is going on with you?
2. What is the issue that is driving you crazy or where do you want to take your business in 2018?
3. Give me your top 2-4 goals for the next 6 to 12 months.