Introduction
The event ticketing industry has evolved significantly in recent years, giving rise to ticket brokers who play a crucial role in connecting event-goers with tickets. Ticket brokers are individuals or companies that specialize in reselling concert or sporting event tickets for a profit. In this blog post, we'll explore the world of ticket brokers, their business model, primary and secondary marketplaces, and the tools they use to manage their inventory effectively.
The Ticket Broker Business Model
Ticket brokers acquire tickets from primary market sources such as venues, promoters, or artists, and then resell them on secondary marketplaces at a higher price. They may also purchase tickets from individuals who are unable to attend the event. Ticket brokers operate both online and through physical storefronts, catering to a wide range of events and specific geographic regions. Their revenue size varies, ranging from small hobbyist operations to large-scale enterprises with dedicated teams for inventory management, pricing, and fulfillment.
Primary Marketplaces for Buying Tickets
Ticketmaster and Live Nation are two prominent primary marketplaces in the US, offering a wide selection of concert and sports tickets. TicketWeb is another primary marketplace known for competitive prices and a user-friendly website. SeatGeek and Vivid Seats have also entered the primary marketplace, providing diverse ticket options and innovative features like 3D venue views and buyer guarantees.
Secondary Marketplaces for Selling Tickets
StubHub, SeatGeek, and Vivid Seats are popular secondary marketplaces that offer a platform for individuals to sell their tickets. These platforms aggregate tickets from various sources, providing a wide variety of events. Ticketmaster Resale offers an official resale marketplace, ensuring secure transactions. TickPick is a no-fee resale platform that emphasizes transparency in pricing, while Razorgator and TicketNetwork focus on user-friendly experiences and authenticity guarantees.
Broadcasting and Managing Inventory
Ticket brokers rely on Point of Sale (POS) systems to manage their inventory across multiple platforms. POS systems like Skybox, Ticket Utils, TicketNetwork, Ticket Evolution, and Logitix offer comprehensive solutions for inventory management, pricing, order fulfillment, reporting, and integration with major ticket marketplaces. These systems enable ticket brokers to efficiently handle their operations, including mobile app support for on-the-go management.
Conclusion
Ticket brokers play a vital role in the event ticketing ecosystem, providing access to tickets for individuals who may have missed out on primary sales or are seeking specific events. Their ability to source, price, and sell tickets on secondary marketplaces offers flexibility and convenience to both buyers and sellers. By utilizing sophisticated POS systems, ticket brokers can efficiently manage their inventory and ensure seamless transactions across multiple platforms. As the event ticketing industry continues to evolve, ticket brokers will remain an essential part of the ecosystem, connecting event enthusiasts with memorable experiences.
