Vivendi has merged the formerly SFX-owned ticket agency into See Tickets in order to better "leverage its global assets", it has announced
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2017 is shaping up to beat last year's record-breaking results
By IQ on 01 Aug 2017
It’s a boom time for See Tickets. The company had a record year in 2016 and results for 2017 are well ahead of that. The company recently launched Fan-to-Fan, an ethical re-sale platform as well as a peer to peer marketing service, and has made some significant inroads into the US market. Index spoke to CEO Rob Wilmshurst about battling the touts, and being in one of the most competitive sectors of the live music industry.
You recently launched your own face-value ticket resale site, and you’ve been in parliament to give evidence on secondary ticketing – how important is it to you to minimise ticket touting?
It’s important to our clients, the artists and our mutual customers so it has to be important to us. Fan-to-Fan was our response to the problem. The take-up has been significant and a recent survey we ran showed that customers like the option to sell at a fair price and welcome the integrated nature of our solution within our site – it’s a couple of clicks to list at the market’s lowest fees.
What are some of the biggest challenges you’re facing right now?
Nothing that is causing us to lose too much sleep. We cannot control the market but we feel we are in a great position to continue to evolve our position. We have a great mixture of team, full service, experience, technology, cash (no debt, funding rounds or other start-up negatives that should cause clients concern), marketing assets and ideas to remain more than relevant in the medium to long term.
Where do you see opportunities?
There are lots all over the place. I won’t lie, we are being highly aggressive towards the competition and if we feel we can offer a client (of a competitor) a better deal, better service and give their customers the same then we are not going to leave it alone.
You recently bought Flavorus from SFX – is the EDM market a key target for See?
The acquisition was not about EDM although we acquired a basket of contracts in the EDM sector. We needed some mass in the US as it was moving too slowly for us, so when the opportunity came up we took it and the business is developing well. We rebranded the business to See Tickets, put in our own management team and are using all of the attributes mentioned earlier to evolve our position. It’s a tough market but that’s OK with us.
The last decade has seen an explosion in the number of ticket agencies. What are you doing to make sure See Tickets retains its strong position in the market?
Nothing different to be honest. There has been an explosion, yes, but an implosion too: Yplan, Songkick, being sold off for far less than went in as investment. And there will be more casualties and fire sales. It’s not easy to stay relevant but having the aforementioned experience, tech, marketing and cash makes us an easy option for clients. If you were a promoter would you put your revenue collection in a business that loses cash hand over fist and is heavily in debt? Good luck with that if you do.
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