Would love some feedback on a new idea - a subscription ticket service!

[whf2163]

Some people don't have the time, energy, or INSIDERS knowledge to keep abreast of all the awesome events going on. Then after doing the legwork, even getting tickets can be a hassle.

Here is our vision: A monthly fee for a service that curates the best events in your metropolitan area. Ideally there would be different tiers based on the number of tickets (4 tickets for a friend group vs. 45 tickets for a large corporate event) and how much you're willing to spend for your seat (nosebleed tickets for an NFL game vs. premium seats). We would love to host this on an app/website where users can spend their monthly "credits" on various experiences. Think like 4 credits for a premium ticket to Kanye but maybe one credit to see the Tennessee Titans in the nosebleed section. Tickets would be available for direct download, email delivery, snail mail, or will call.

Assuming we can figure out a way to turn this into a business, we want to figure out who, if anyone, would be interested in this service (speaking demographically), and what price points would make a service like this attractive?

Thanks so much for your input, it is truly valued!

 

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[ApparentHorizon]

That's a neat idea - check out the subscription box model and you could do the same except with tickets.

 

[whf2163]

That's a neat idea - check out the subscription box model and you could do the same except with tickets.

Thanks for your input! Would you be interested in a service like this? And if so, at what price point?

 

[ApparentHorizon]

For dates perhaps, where you'd save me time on research and buying.

IDK if i'd be your target market though.

The 25 to 35, career focused, but also big social life crowd, may be a better place to start.

 

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[Kid]

First,idea is cool.

Second, you ask for price range. I think it is dependent on target your market. If you go for richer people then you can charge more. If for average workers your net margin would be smaller.

Third. If such app would gain traction, you could offset price with curated ads/promoted events for cash.

And btw, fourth:

For dates perhaps, where you'd save me time on research and buying.

@ApparentHorizon gave here an cool idea. Like, a curated date when you know where to go, what to order and not look stupid while asking waiter what some meal is. (+ recommendation for all veggies/health-conscious people)

 

[Nick The New Guy]

Subscription services are all the rage lately...this also seems like a niche where there is always going to be a demand for. People always want to attend live shows. Dollar Shave club is a prime example of someone taking the fastlane using this model. http://www.nytimes.com/2016/07/20/business/dealbook/unilever-dollar-shave-club.html?_r=0
Sold for $1Billion

 

[GuestUser155]

Your only sustainable market is: Yuppies.

The upper-middle class is all about experiencing the newest culture and has the disposable income for it.

The middle-middle class imitates the upper class, but can't afford to attend as frequently as the upper-middle.

The upper class doesn't need a service like this. They either know all the hot spots or have people who will tell them.

 

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[TonyStark]

It sounds interesting, I think the online ticket buying experience could use some revamping.

 

[AgainstAllOdds]

I don't see this working.

Let's say you give me tickets to 4 events (1 per each weekend in a month). All it takes is for one of those events to be a dud, and suddenly I'm disappointed with the service.

On top of that, why am I paying a premium per ticket vs buying a ticket directly for the source/secondary market? Assuming 4 events a month, 1 a dud, and a 20% premium (that you charge to keep your business running), the individual pays 60% more over finding tickets and events that they enjoy themselves.

Also, there are already "competitors" that fill this niche for free. For example, every single major newspaper has a section on what's going on this week. I'm sure there are also websites. No reason to choose your service vs picking and choosing yourself.

Lastly, coordinating events is difficult. The randomness of you choosing events cannot accommodate for the average person's life and schedule.

 

[whf2163]

I don't see this working.

Let's say you give me tickets to 4 events (1 per each weekend in a month). All it takes is for one of those events to be a dud, and suddenly I'm disappointed with the service.

On top of that, why am I paying a premium per ticket vs buying a ticket directly for the source/secondary market? Assuming 4 events a month, 1 a dud, and a 20% premium (that you charge to keep your business running), the individual pays 60% more over finding tickets and events that they enjoy themselves.

Also, there are already "competitors" that fill this niche for free. For example, every single major newspaper has a section on what's going on this week. I'm sure there are also websites. No reason to choose your service vs picking and choosing yourself.

Lastly, coordinating events is difficult. The randomness of you choosing events cannot accommodate for the average person's life and schedule.

I appreciate your thought provoking response.

We were wanting to purchase tickets in bulk (say buy out a section at the next Chainsmokers show or an NHL game). I think we could decrease the risk for venues/acts that seats will go unsold, and therefore buy more seats for less. That also lowers the cost of each ticket for the subscriber, so they wouldn't have to pay anything approaching 20% premium. Do you think this is a viable model?

To address your concern about duds...do people blame Stubhub for a bad experience when they buy a ticket? Hopefully we would be able to offer enough variety and cover the vast majority of relevant events that occur in the major urban areas in the US, so people would just spend credits on events they are interested in. Ideally we'd be less of a niche service and more of a new ticket finding/cultural engagement solution. What do you think about this vision? Is it realistic?

 

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[Interesting Life]

Sounds interesting. I guess you can have them fill out a questionnaire where they can list things they are particularly interested in and things which they absolutely hate.

Some random members can also win super premium tickets like a lottery type drawing.

 

[AgainstAllOdds]

We were wanting to purchase tickets in bulk (say buy out a section at the next Chainsmokers show or an NHL game). I think we could decrease the risk for venues/acts that seats will go unsold, and therefore buy more seats for less. That also lowers the cost of each ticket for the subscriber, so they wouldn't have to pay anything approaching 20% premium. Do you think this is a viable model?

Have you ever resold tickets?

Good group tickets are tough to get. Let's say you want NHL seats for a group. Chances are that you'll only be offered the worst games of the year. For the better games, you need relationships with the teams, and years of purchases. Teams aren't stupid. They won't give you the best games. They'll give you the option to buy group seats for the worst games. At which point you're not really providing value to the end consumer - since they can get tickets way below cost on Stubhub.

And events like The Chainsmokers you will not be able to get group seats for. Chainsmokers will sell out wherever they go (assuming prices are reasonable). There's no reason for them to sell you tickets.

Lastly, let's say the idea catches on. You've convinced all the teams and promoters to sell you tickets. And then you also convinced customers to buy from you. And now you're making a ton of money. Then what do you think will happen...? Because I can almost guarantee that Livenation/Ticketmaster will launch their own serivce, cut you out from being able to buy tickets, and suddenly take the entire business that you've built.