Insight Flash: CE data explores how ticket services rely on tourism, and where growth opportunities exist.
With the glamor of the Tony Awards still fresh in all of our minds, it’s fair to wonder how a national broadcast can hold so much interest for performances that took place in a 12-block span of a single US City (plus Lincoln Center). Consumer Edge data can help customers understand how much businesses such as ticket services rely on tourist spend and have growth opportunities outside of their home base if they are able to invest in the right marketing.
Telecharge, which is part of theatre owner/theatre producer The Shubert Organization, only sells tickets for performances in New York and Boston. Yet, 46% of US individuals who bought tickets from Telecharge in the last year lived outside of those DMAs. 21% lived outside of Telecharge’s top 15 markets.
Cultural ticket site TodayTix, which offers performances in many more markets, saw 20% of US customers from outside the DMAs where it has venues. 16% of customers were from outside its top 15 markets.
SeatGeek, which offers a broader range of event types as well as a broader geographical footprint of venues, only had 12% of US customers from New York, but 45% out of its top 15 markets. So, although event ticketing may seem like a local business, the data shows that with the right strategy, ticket services can branch out into a much more national customer profile. This explains why last night’s Tony Awards attracted 3.86M viewers for its first live nationwide broadcast.
SeatGeek was recently ranked as the #4 Marketplace and TodayTix was ranked as the #54 Marketplace (and the fastest-growing ticket marketplace) in the Andreessen Horowitz Marketplace 100, which was powered by Consumer Edge’s CE Vision platform. CE Vision can not only help private investors find high-growth businesses ready for capital to take the next leap, but also to identify areas such as expanded national presence where that capital can be best deployed.
If you’d like to benefit from using our data year-round to track trends and dynamics like these, reach out to insights@staging.consumer-edge.com.
