Ticketmaster doesn’t have complete access to the “ticket-buying universe,” but through a new partnership with last-minute ticketing app Gametime, Chief Commercial Officer Greg Economou and his colleagues are hoping the relationship will further their distribution and drive more sales.
According to Ticketmaster, similar partnerships with companies like Facebook, Groupon and Spotify, for example, resulted in four million tickets being sold off-platform in Quarter 1 alone. So, with the new partnership, the ticketing conglomerate is looking to place more of its events in front of potential buyers who aren’t necessarily visiting Ticketmaster.com or one of the company’s affiliate sites.
“We’ve been on a constant mission to extend our distribution and looking to deploy APIs with partners that make sense and can create incremental reach, drive incremental audience, drive incremental purchase opportunities and ultimately sell more tickets,” Economou said. “We’re constantly seeking partners in this vain.
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“We still be can’t everywhere all the time…Now we’re seeing this fast growth on Gametime as fans look for last-minute ticketing opportunities.”
Economou said that Gametime — which raised a $20 million Series B round last fall and continues to offer additional buying features to fans — presented opportunities for Ticketmaster to also reach a younger audience that purchases last-minute tickets. According to information provided by Ticketmaster, 60 percent of its traffic is via mobile while in 2016, 75 percent of Gametime’s tickets were bought within a week of an event.
Added Gametime Chief Revenue Officer Colin Evans: “Working with an industry leader like Ticketmaster is strong validation for the fast-growing platform we’ve built at Gametime. We expect to offer significant value to all of Ticketmaster’s clients as the company looks to expand inventory distribution and reach even more of our millennial demographic. Gametime’s last minute, mobile-focused user will also benefit from the best selection of tickets across all categories of sellers.”