Every summer, ticket sellers, ticket marketplaces, and the entire industry as a whole get together for the World Ticket Conference!
Here, experienced and new brokers alike work together to discover upcoming trends, discuss changes, and learn more about how we can improve the secondary ticketing market!
This year we learned some important things and thought it would be interesting to share our KEY takeaways!
2022 World Ticket Conference hit a record attendance at over 600 people. The majority of attendees are ticket resellers looking to learn, connect, and grow their business.
A few main highlights include our personal Ticketflipping Meet-up – where we got to connect with some of our members who made it our to the conference this year. If you want to attend the World Ticket Conference next year, we’ll have an exclusive discount for Ticket Flipping members and we’d love to have you come out with us next year!
IMPORTANT THINGS WE LEARNED
- The ticketing industry is back and stronger than ever
- Huge demand for tools that can help pinpoint winning shows
- Stubhub acquisition by Viagogo affected many brokers
1. The Ticketing Industry is BACK!
Without a doubt, this years turnout was larger than any previous convention with over 600 people. This set the record higher than the previous 2019 record.
Not only that, we spoke with hundreds of resellers who said their business was back to and surpassing previous levels prior to covid. Although everyone will admit, 2020-2021 were difficult years, but now we are back to seeing normal levels of demand.
The live entertainment industry was growing at an annual rate of 8% every single year and that trend appears to be back right on track where it left off. People are excited to get out and see their favorites teams and artists more than ever before.
2. Demand for Tools is at an all time high!
Ticket sellers are constantly evolving and looking for new and innovative ways to grow their business. This year, our own predictive analytics dashboard FLARE was a big success with hundreds of brokers interested in how it can impact their business.
Keeping up to date with the most advanced tools on the market is important to remain competitive and have the insights needed to make profitable buys consistently. One of those insights includes artists and event research outside of what people are already familiar with. Becoming stagnant with focusing on just a few artists and teams can potentially hurt a brokers long term ability to continue growing their business.
This is why our tools focus heavily on making our lives easier, by providing brokers with the information they need to always make the best decisions. Tools that provide transparency to what is happening behind the scenes of any live event, whether that be predicting demand based on the amount of local fans, or actually tracking how many tickets are selling across the major marketplaces.
These tools are vital and we expect to see a continued growth in this area. Our goal will be to continuously innovate and provide the latest and ultimately most impactful tools to help your business grow and prosper.
Example: When Billie Eilish was performing in small 3000 capacity venues, our predictive FLARE score was able to easily indicate that demand for these shows was significantly higher which ultimately lead to tickets going for 2x-3x the price.
3. Stubhub Acquisition by Viagogo makes a large impact
Stubhub, a common name in the ticketing space, was purchased by the European ticketing giant Viagogo. This change caused a lot of long standing partnerships, data, and other important assets to diminish or completely fall apart.
The acquisition caused Stubhub to disable their API (technical term for data resources), effectively removing access to ticket sales price data. This caused havoc for many brokers who relied on this data to help them price their tickets competitively in the market.
Seeing this issue coming, we built out our sold data tracking system and released it just 2 weeks after the data was taken down, providing ticket sellers with an imperative solution in a difficult situation.
We are continuing to watch these changes and working hard to help fill the gaps that may arise.
Check out some of photos we took along the way!