Author: Mads

January 22, 2019 Mads

By Broker Genius

When your inventory is losing money, it’s easy move onto more promising teams or sell your concert inventory early to avoid a larger loss. However, don’t jump ship too quickly - and ask yourself these 6 questions:

 

1. How long has your ROI (return on investment) been negative?

Take a step back and see how long you’ve been experiencing a loss.

Sports: If it’s just been the past couple years, it might be best to hold onto your inventory. On the other hand, if it’s been five years of low returns, it could be time to move on to a new team.

Negative returns are common in sports. We’ve found that a leading indicator of ROI is how well a team performs - the better the team, the higher the return. For example, the Jacksonville Jaguars were an under .500 team since 2008. Then, they had a winning season in 2017, making it to the AFC Championship game. There is almost always in uptick in demand - and prices - when a team performs well.

Concerts: If the first few weeks of a tour is experiencing low returns, wait and see if the market picks up. But if it’s been a bad month or more, you should consider trying to sell early instead of waiting for a price hike closer to the event.

Holding onto tickets that are experiencing a short-term loss can pay off when they start selling.

 

2. Are you listening to your heart or the market?

It’s common for ticket brokers to start investing in tickets based on their favorite teams or artists. However, keep in mind that you’re not a fan anymore - you’re running a business. Just because you would buy a ticket doesn’t mean you’re going to make a profit.

Pay attention to what teams are winning and artists are trending.

 

3. How many tickets did you have for the event?

It’s easy to jump to conclusions about what’s making or breaking the bank. However, you need to dig deeper into your data.

For instance, do you have a small number of tickets in one section?... Your return is not necessarily representative of an entire team’s season or artist’s tour. Consider buying tickets for different sections or increasing your ticket quantity in your current section.

 

4. What if this year is an outlier?

Eating tickets is a punch to the gut - and it’s even worse when your business depends on having cash on-hand. However, if you lost money on just one event, don’t sweat it… yet. For example, experiencing a negative return on a concert in a smaller market does not mean that the artist isn’t popular, but maybe they are not as popular in that location.

You should also keep an eye out for positive outliers. For instance, you might experience a really strong month, but is it because your team had several high stakes games in a row that made a large profit? It’s possible that your data looks a lot better than it actually is.

Don’t blame repetitive wins or loses on outliers - but they do exist and you need to watch out for them.

 

5. Are you missing out on cost breaks?

When you’re investing in inventory, keep an eye out for cost breaks. For example, listings in the first 12 rows in a section might be really expensive, but in that same section, the next 12 rows could be 25% or more cheaper. Keep this in mind when evaluating a potential buy.

Identify cost breaks to increase your return.

 

6. Is there a chance that the ticket’s value will increase?

The waiting list for season tickets is miles long, so giving up on your seats could be a costly decision… Is the team rebuilding? Or maybe your concert tickets are not selling well and you want to get rid of the inventory early - is it because a popular artist received some negative attention in the news?

It’s hard to plan for the future when you need money quickly to keep buying. However, sometimes thinking ahead might help you earn more in the end.

Broker Genius is the leading dynamic auto pricing and analytics company in the secondary ticket market. Save time and grow your business with our pricing technology. Ticket Flipping members can take advantage of their exclusive offer:

 

Broker Genius Offer

 

 

 

 

November 11, 2018 Mads

 

We've recently unveiled the newest version of our Ticketflipping Toolbox 2.0 to our members and people love it!

So what is The Ticketflipping Toolbox? It is the most advanced ticket analytics tool that gives you data and information to help you find and track highly valuable tickets. We built this tool to help ourselves as brokers track events, see how they are selling, and make confident decisions when we choose to buy a ticket.

The Toolbox is chrome plugin which you can download from the chrome app store. The plugin activates when you go to any Ticketmaster or Livenation event pages. You can then favorite events and save them. This will automatically start to track that event and save how many tickets there remaining every 30 minutes. You can then go back and look over this information and see how fast an event is selling tickets.

In this image we can see (Event):

  • 2000 Total Tickets
  • 949 Tickets Remaining
  • Selling about 20 Tickets per day (Based on the Toolbox Data)
  • 120 days left before and event

Knowing this information we can do a bit of simple math: 

  • 949/20 gives us 47.5 Days until the event sells out.
  • 120 Days - 47.5 Days = 72.5 Days Extra after the event sells out!

This means this event is most likely to sell out and sell for more on secondary markets like Stubhub.

With the newest version of the Toolbox you can also set Low Ticket Alerts:

This means that the Toolbox will send you a notification when tickets reach a certain amount. For this Maggie Rogers event, I have set my Low Ticket Alert for 100. When the remaining amount of tickets get below 100, I will receive a message with the event information the remaining amount of Tickets. I can decide if I want to go ahead and buy tickets for this event.

This is an entirely General Admission event, if it were an event with Seats, I can set a low ticket alerts for specific sections. This way I can keep track of specific zones and sections.

The Quick Stubhub access feature that comes with our plugin has this information:

 StubHub event information:Total tickets: 126
Total listings: 18
Minimum price: 44.67USD
Maximum price: 104.32USD
Sale transactions: 2
Last sold ticket price: 44.65USD
Last sold ticket date: 2018-11-05

This is showing us that there are already a few tickets on Stubhub which are priced from $44-$104 per ticket.

This means that other brokers expect this event to be worth up to $104 per ticket eventually:

If you were to buy 16 tickets right now at $30 it would look something like this:

Buy: 16 Tickets x $40 (after fees) = $640.00 Invested dollars

Sell: 16 Tickets x $100 (after fees) = $1600.00 revenue

This means a potential profit of $960.00 on just one event. Remember you will have to wait anywhere from 1-4 months to make that sale. So selling earlier for cheaper and buying tickets again may be a better decision in terms of bank role management. (Link to Video Training)

This of course is just a theoretical scenario and nobody can 100% guarantee your tickets will sell like this, but this is entirely possible and we have seen events sell like this in the past.

To learn how you can find more events to buys and use the Toolbox for event research, check out our other detailed explanation and video on The Ticket Buying Process.

This is just one way example of how you can use the Ticketflipping Toolbox low ticket alerts to help you really find those sell out events you can sell for a profit.

In our next post I will explain the Drop Checker feature of the Toolbox and how you can use it to find added inventory for highly demanded seats.

 

To get access to the Toolbox click the link below!

 

Toolbox 2.0

June 27, 2018 Mads

'White Label' sites are where you sell tickets under your own brand. White Labels are offered by many large ticket businesses, whom broadcast their design and tickets onto your website for you to sell.. All of the support and ticket management directs back to the White Label Company, so you can focus your energy on gaining traffic and growing your revenue.

Why should I care about a White Label Site? If you have some experience with both tickets and online marketing, building a white label site could be a great opportunity for a steady passive income source. In this post we go over how to create a white label site, as well as grow your site with online marketing strategies.

How it works is you connect your website to the Private Label Portal - so the entire design, layout, and tickets are provided through the Private label company. You are able to choose what types of shows and events you have listed, descriptions on your main pages, and some content customization beyond that. You are also able to choose the markup for your website, so you can decide to gather either a large or small fee from your customers on top of the 'Secondary Marketplace' price.

 

 

 

Where to start your White Label Site

Ticketnetwork (http://tnprivatelabel.com) - This is one of the largest White Label Networks, as many Ticket Selling Labe/ls across the internet are built on Ticketnetwork's White Label system. To get started with TN Private Label you just need to apply on their website. Keep in mind that Ticket Network is looking for people with experience in both online marketing and tickets to get accepted into their program.

TicketSocket (https://www.ticketsocket.com/) - TicketSocket is another white label startup that is setup for secondary ticket resellers, but also primary tickets for festivals, venues, and artists.

VividSeats Affiliate (https://www.vividseats.com/affiliates.html) - Vividseats also has their own Affiliate program. This program is much more selective and Vividseats is looking for partners who already have websites established to sell tickets through.

Here's an example of a Ticketnetwork White Label site: https://www.ticketsground.com/

 

Strategies For Growing your White Label Site

PPC Ads - Such as Google Adwords, Facebook, or Instagram. You can create Ad Campaigns for specific events and encourage users to buy tickets from your site. If you find the right niche and refine your Ad Campaign enough, this can be very profitable. The problem is this can get pricey if you run a large Ad Campaign and do not get enough sales to make up for the advertisements.

SEO - Ranking your site for Organic search in Google is a great way to get traffic without spending lots of money on PPC Ads. You can gain customers through Search Engines by Optimizing your website through blogging about events, building links, and sharing your website across the internet.

Social Media - This is another great way to grow your White Label's website without spending money each time someone clicks on your Ad. If you create a lively and entertaining Facebook/Instagram/ you will naturally attract ticket seekers to your website.

Youtube - Creating videos based around certain events and linking them to your White label site is another way to gain traction.. Not only will you get traffic from Youtube, but this will also be great for establishing your SEO for Google. Be sure to include lots of related words in your description and keywords.

 

Keep in mind: If you are just starting your White Label Site, it will take some time to see growth in your traffic and sales. By keeping to a strategy long term to grow your site, you will start to see results and eventually be able build a steady passive income from ticket sales.

June 12, 2018 Mads

Hey Everyone!

With regards to the NBA Finals lets hope this is the last year we ever have a Golden state and Cavs final. There markets were very pathetic this year. The Cavs market was averaging $220-$275 for a get in ticket and Golden state only saw $350-$500
get-ins. To give you an idea of  what prices could have been had Houston beat Golden state and made it the Nba finals... We were looking at  get-in prices averaging  $750- $1,000 for most games.

For any broker holding tickets for the NHL finals there may have been some disappointment due to The series only lasting 5 games with no home team having the opportunity to clinch the cup at home.

Vegas Market: Market was very strong for game 1 as get in prices were ranging from $850- $1,000. For game 2 market was not as strong as game 1 but still stayed in the $750 plus range. After Vegas lost 2 straight we saw prices drop down substantially for game 5 as there was no longer an opportunity for Vegas to clinch at home.

Capitals: Overall we we saw much stronger markets for the Capitals as get
in prices for game 1 and 2 were averaging $1,200- to $1,300 plus dollars. These get in prices could definitely be attributed to the fact that the Caps had not won a cup in 40 years.

Lastly, had there been a game 6 in D.C we could have seen record breaking get-ins. The market for a potential game 6 in dc was $1,950 at puck drop of game 5. Should Vegas have won game 5 you could have expected the market to go $2,250 plus. Who knows what the market could have hit in Vegas for game 7 as get-ins were $1,250 prior to game 5. It would not have been a surprise if the market hit $1,750 to $2,000.

Overall if you had Knights or Caps tickets you definitely made a nice profit but at the same time was a let down due to such a short series...

 

January 2, 2018 Mads

Demand for General Admission shows is highest at the initial Onsale - all the dedicated fans hop on to grab tickets. For extremely hot tickets, this wave of demand will actually sell out the entire show immediately (these are the shows we are optimally looking for!). For example Future’s Purple Reign Tour sold out within a couple of minutes at certain venues simply because of his extreme popularity at the time.

After the initial Onsale rush the demand for General Admission shows slow down. People who had money to buy their tickets already bought them and are waiting for the artist to come to town.

As the date of the event approaches buzz around town for the concert increases. People are getting excited to go and are telling their friends about it. Many people who weren’t planning on attending the show buy tickets because their friends are going or they think it will be poppin. This is why the demand begins to gradually increase approaching the event.

Most of the time this is the period when your show will sell out.

Supply Curve

The rest of the demand for the event is left for the resale market after this point, and lucky you - you happen to have some tickets. As other brokers and ticket holders sell, the supply of tickets actually available for sale shrinks up.

Price Curve

Now that your show is sold out you can begin expecting the value of your ticket. The rest of the demand is now funneled into the resale market which has a limited amount of supply. Because the demand is steadily increasing and the supply is dropping, the value of the ticket in the resale market naturally rises. The longer you wait until the event, the more your ticket will be worth.

The value of your ticket may not peak from anywhere between 10 days to 5 hours before your concert. You can guesstimate the peak based off how many tickets are still in supply. Those who did not already sell their tickets drop their price to rid of them before the show, and people who genuinely were unable to attend the show also throw their tickets up for sale.

If the value of your ticket begins to drop and there is a nice pool of supply, you can expect the value to continue dropping steadily. This is because people still holding tickets see the price drop and freak out, resulting in them dropping their price as well.

When you are satisfied with the current value of your tickets, go ahead and sell them! Remember, don’t get too greedy by waiting too long - you might end up regretting it if they drop down. You will start to get a feel of when the right time to sell your tickets is with more experience!

Hope you guys enjoyed this quick guide! We want to provide the best info on how to become a ticket broker here at Ticket Flipping 😀