EDM.com Spotlight

EDM.com Spotlight

News by
Cherie Hu

How Mobile Millennials Are Transforming The Music Ticketing Industry


Technology and music reporter Cherie Hu looks at the future of the ticket industry with statistics pulled from Gametime, a ticketing app with a user base that's 75% comprised of millennials.

This article originally appeared on Forbes

(Photo by Larry Busacca/Getty Images for TIDAL)

Just over two months ago, Beyoncé closed out her Formation World Tour, which grossed over $256 million from nearly 50 sold-out shows and ranked as the No. 1 tour in North America this year. Tickets were in particularly high demand, as the last time Beyoncé went on tour was in 2014 alongside celebrity husband Jay Z; within 24 hours of the on-sale date, secondary ticket prices were already averaging more than $400 apiece.

One could assume that Beyoncé’s fans would plan their months around these concerts, securing tickets and making travel and/or accommodation plans far in advance. Yet, data from mobile secondary ticket marketplace Gametime suggests that even diehard music fans are buying more of their tickets within a week or even a day of the event—not just for Beyoncé-level stadium shows, but for all concerts across the board.

Gametime is on track to sell over 1 million concert tickets by the end of 2016. While this figure pales in comparison to Ticketmaster's monthly ticket processing rate of 75 million, it still provides a baseline for studying modern ticket purchasing habits, especially considering that millennials comprise around 75% of Gametime’s user base...

... Read the full article by Cherie Hu at forbes.com/sites/cheriehu/2016/12/18/ho...

Tags : Forbes millennials ticket industry