When planning a live event, whether it’s a concert, play, or sporting event, ticket sales are very important when it comes to the success of the event. As a promoter, ticket sales are the deciding factor in whether you make a profit or not. The talent also depends on the sale of tickets for their income. And the better your ticket sales, the happier the sponsors are because of the increased visibility of their company. There are many different ways of promoting the sale of tickets, including online, at the box office, and even at local businesses.
One of the best in the execution of ticket sales is Live Nation Entertainment, the world’s largest live entertainment company. Of course it doesn’t hurt that they merged with Ticketmaster back in 2010. Yes, they use online ticket sales through Ticketmaster.com and at the venue box offices, but just this year they teamed up with Groupon, which offers deals on “the best stuff to do, see, eat, and buy” in cities throughout the world. This partnership has created, GrouponLive, another outlet to sell tickets for events.
In a video found on The New York Times website, the CEO’s of Live Nation and Groupon speak about the arrangement between the two companies. A few of the main points discussed in the video are: could this potentially hurt Ticketmaster in the long run and with the struggling concert business, will this partnership help turn it around.
Although it may seem that this partnership could potentially hurt Live Nation and Ticketmaster in the long run, the purpose for teaming up with Groupon is to help fill the seats at events. In addition, Michael Rapino the CEO of Live Nation stated that he thinks partnering with Groupon is an opportunity to reach more consumers. And the numbers speak the truth. By August of this year, merely 3 months after its creation, GrouponLive sold 600,000 tickets, 422,000 of which were Live Nation Entertainment events.
One important fact from all this is, that as a promoter it is important to remember that there are many avenues for selling tickets, but choosing the right ones could make or break the event. Also, when it comes to pricing, if you’re having trouble selling out don’t be afraid to partner with sites like GrouponLive to offer some tickets at discounted prices. Offering discounted tickets, especially when people aren’t spending as much on entertainment, can help fill the seats at your event.
- Lisa -
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