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Andrew Dreskin, Ticketfly founder and CEO, on online ticket purchasing and how he stacks up against major retailers like Ticketmaster.
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And it comes to -- concert tickets Ticketmaster and Live Nation aren't the only game in town that actually other plants up and grab and some of the business and looking to expand.
Robert -- has more on this -- Hey Tracey thanks -- we're joined by the a man known as the father of online ticketing -- name's Andrew dressed in.
And he's joining us from our -- Cisco Iberia is the founder and co violates on because -- founder and CEO I should say a ticket flight Andrew thanks so much for joining us on Fox Business -- You -- to offer a 30% discount to Ticketmaster music to the heirs of fans no doubt but is that more for the consumers or the venues he sees the savings.
Well first thank you for having me Robert.
So the consumers enjoy the savings on the service fees on average are fees serve roughly 30% less than ticketmaster's.
But also we make life vastly better -- Where the first developers of an entirely.
Integrated platform that allows venues and event -- standard data one time and we'll publish that data anywhere so it's very time saving.
Money saving efficiency creating.
So really both the consumers and the venues win here.
Yeah and that's right and that's what analysts have -- let's say that that.
Gives you.
Your biggest advantage right now mean obviously you are facing a huge a -- there in Ticketmaster but.
Is this integrated platform that you have tell us all a little bit more expensively if you can't without giving way that the details here.
How this sets you apart from what Ticketmaster -- they obviously they you know other folks can alert people when their friends -- buy tickets on FaceBook but.
Europe under the hood takes dial one step further gives the actual venue and the promoters some tools that -- -- competition isn't yet.
That's right the legacy providers are really just ticketing.
Companies.
And where we differ is were more of a holistic technology provider for our clients.
So we provide technology that underpins.
Not just their ticketing but their email marketing their social marketing their website.
And because of this were able to have a better understanding of how tickets are selling so we can offer.
-- sophisticated data analytics it saves them lots of time.
And ultimately helps them to sell more tickets this is expiring inventory.
And it's important that we move it out onto the shelves as quickly as possible.
Obviously Ticketmaster has a huge -- -- of the merger with live nation's they've got these massive venues.
All wrapped up realistically what opportunities do you have to take some these Live Nation venues when these three year contract start to expire.
Well.
-- the worldwide ticketing market is an enormous market it's roughly ten billion dollars of service fees per annum.
The Live Nation component.
Five ticketmaster's revenue is is actually -- fairly small percentage.
So our worldwide address -- bull market is really sort of the non Live Nation facilities but.
We -- provide our services to any venue and promoter in the world other than Live Nation venues.
So stadiums arena is -- feeders.
Feeders.
And and I should mention.
Historically we've we've been focused largely on general admission facilities right well we recently launched.
Reserved seating application.
And that opens up a big swath of the market for us senator clearly all the advance ticket very quickly -- in the world had our -- reserved seating.
Have you reached out to -- better approach -- famously hates Ticketmaster or any others major artists it would maybe sort of you know give you -- a bigger tipping point to a wider audience.
Well that's a good question we had some talks with those folks back in the day -- in my prior life ticket web.
But we really focus primarily on venues and event promoters because there the controllers of the ticket inventory.
All right Andrea just -- founder and CEO of ticket fly thanks so much for joining us -- back to you thanks have a.
Did eat its -- Springsteen tickets -- the fall.
Hello I'm -- I'm not up any --
