For too long Ticketmaster has held an almost monopoly on online ticket sales, charging huge service fees that make a $20 ticket end up costing $50 as well as contracts that are so bracingly exclusive that they seem to exploit the venues and the artists themselves. Everyone is familiar with the online ticket giant that merges with Live Nation in 2010 to produce the largest online ticket retailer in the market.
Though Ticketmaster has become a well-known and often trusted name in online ticket sales, many feel that the exorbitant fees make it a less than suitable option when it comes to buying tickets online.
Source: Lafan Fareen Petard
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The Ticket Fairy, a New Approach
There is something to be said for a company that is so confident in what they sell that they believe they can charge up to 50% in service fees for online ticket sales. That being said, however, The Ticket Fairy is here to do something about it. The Ticket Fairy, and the revolutionary new technology behind it, uses an advanced ticketing platform that allows users the ability to earn tickets by referring friends. The platform also handles ticket sales, check-ins at the event and even works to analyze buyers in order to help prevent and limit scalpers. Overall, The Ticket Fairy has been able to increase overall ticket revenue from event for organizers by an impressive 15 to 25% overall during private beta testing.
Launch and Investors
After selling 850,000 tickets, the technology is finally ready to be released to the public. Currently, The Ticket Fairy is working to poach venues from Eventbrite to help build its portfolio and move further into the esports and conventions sub set. The site has seen over $2.5 million seed money for The Ticket Fairy by angel investors alone. Some of the investors that are confident that the technology will take off are YouTube founder Steve Chen, Arielle Zuckerberg, G2 Ventures and more.
Source: emmaonline
The Purpose of The Ticket Fairy
Founder Ritesh Patel, who has hosted hundreds of events on his own, stated that the purpose of the ticket fairy was not to be another Ticketmaster or Eventbrite but rather to create a new experience that is far more functional for users and venues alike. He hopes to create a site that is more than a shopping cart and that offers reasonable fees and more function for users. He has worked tirelessly for the past two years to help win over the higher ups in the music industry to help grow his business even more.
What Makes it Different?
There are a few facets of the Ticket Fairy that make it different, the first is the earn a ticket feature. Users can earn a free ticket if they get enough of their friends and acquaintances to buy a ticket from the site. Buyers also have a range of different options when it comes to paying. For those free tickets you can pay a small fee that will be refunded when the ticket is scanned at the event or you can get layaway for events that are not for a few months. Another benefit is that they work to discourage scalpers by using tickets that are ID locked and that you must present your ID to use. Their smart technology also offers the chance for venues and events alike to track buyers and to collect information for a more personal experience.
