Understanding the Event Ticketing Market

The Event Market

It is estimated that the global event market could reach as much as $45B in 2016 and an additional 4.80% growth until 2025. The reason for this growth is because of the birth of the internet. Since as soon as an event becomes available it goes to one of the hundreds of venues that sell tickets for events. Before the internet was in existence the only way a person could find a game and purchases, a ticket is they had to go to a walk in the venue where you could negotiate a seat, a price, and guarantee a place at the event by paying for the position.

Birth of the Internet

With the birth of the internet, the only thing a person needed was a URL, https://www.ticketclub.com/events/nfl-tickets, that tells the person going on the internet where they can locate what they are looking for. This URL stands for the Universal Resource Locator is very similar to writing down a physical address of a person or business. The three parts are the protocol, the hostname, and the filename. Today that is all that is needed to purchase ticket online with one of the major event ticket coordinators.

Security in Ticketing

Every vendor that issues a ticket for an event comes from the promoter of the event. Any ticket issued without the permission of the developer of the game is illegal and invalid. A vendor that is registered with the vendor can obtain a license with the vendor of the event or vice versa, the vendor can get a pre-assigned permit to have their games to be sold by a specific distributor. So that every vendor is recognized by the distributor, the distributor must assign a tracking number to the vendor so that when a ticket is sold for the vendor credit will go to that vendor and none else.

Our Ditial Age Changed Everything

Today in an age of large databases there may be 10,000 or more events taking place at any one time throughout the world. Secondly, if there is more than one distributor selling tickets for a game of a vendor, every seat in the venue must be preassigned a price, per game. Lastly, when the place is purchased for an event, regardless of which distributor sold it, a time stamp must be assigned, and a cross-check must be given to make sure that the ticket has not been pre-sold or is still available at all the ticket selling points. Welcome to the digital age. All this is possible now by logging onto your favorite ticket vendor and have all of this done electronically or thru your mobile device within a couple of minutes. Lastly, your tickets will be in the mail and in your hands as early as the next day.

Summary

Fifty years ago every ticket that was sold either for a concert or sports event was more than likely done locally. Today with the advent of computer technology and the internet a single ticket vendor can sell tickets for sports, music, special events in one place without having the purchaser to leave their home or enter any building.

Leave a Reply

Your email address will not be published. Required fields are marked *