Market research company Technavio predicts 20% growth annually until 2020, in contrast to 2% overall in event ticketing
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Data compiled by mobile ticket marketplace Gametime reveals Kanye West had the most mobile music fans of 2016 – a market predicted to grow 20% YoY to 2020
By IQ on 06 Dec 2016
Despite the abrupt axing last month of the final 21 dates of his Saint Pablo tour, Kanye West was still the no1 choice for mobile ticket-buyers in 2016, new data suggests.
West – whose cancellation, due to stress and exhaustion, led to a loss of US$30 million in potential ticket sales – tops Gametime’s list of the ‘most mobile music fans of 2016’ by tickets sold on its app, followed by Drake and Future, Beyoncé, Skrillex’s show at Super City Fest in Oakland, California, and a country music tour co-headlined by Kenny Chesney, Miranda Lambert, Sam Hunt and Old Dominion.
Gametime is a last-minute mobile secondary ticketing platform for music and sporting events, on which resale prices fluctuate dynamically according to market demand. “Unlike other ticket providers that rely primarily on web-based platforms,” it notes, “Gametime is 100% mobile, revealing consumers who are on the go, largely Millennials (>75% of user base) and looking for a speedy transaction accompanied by great value.”
“A consumer behaviour shift is happening in the live event industry, with a migration toward the last-minute window”
The San Francisco-based company says its research – which correlates with previous predictions of 20% year-on-year growth for mobile ticketing until 2020 – shows that “a consumer behaviour shift is happening in the live event industry, with a migration toward the last-minute window – 7 days or less until the event – driven by a younger, more spontaneous and experienced shopping consumer”.
“For example,” it explains, “55% of concert tickets sold on Gametime are happening on the week of the event, and 30% on the day of the event. As events draw near, prices decline roughly 25% and buying activity spikes via mobile millennial fans.”
Gametime’s top 20, and the average US ticket price of each tour, is shown below:
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