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Why 2023 will be the hardest year to sell tickets

2022 has seen fans return to dance floors and fields across the world as the live music industry reopens post-Covid. What has followed has been the creation of an overly saturated market as artists and festivals fight to make up for two years’ of lost revenue.

Globally, 2022 has also brought with it a raft of new economic conditions: rising inflation and low unemployment. Historically, these two factors have spelt out one word, recession. Mixing a saturated live events market and a looming recession together can only lead to the question, ‘will 2023 be the hardest year to sell tickets?’

As consumers tighten their budgets to cope with the rising cost of living, live events may start to take a back seat. This will be the great equaliser for event organisers as competition for consumer’s business will become increasingly tight. There are some strategies event organisers can implement to mitigate the risk that will come with producing events in 2023 and beyond.

“Creating excitement alone may not be enough to sell tickets in 2023”

Build An Audience You Own

In what has already become a market flooded with content post-Covid, ensuring lineup and tour announcements for 2023 stand out among the noise will be critical.

Announcements create excitement; and with them, comes press coverage, social sharing and tagging. But creating excitement alone may not be enough to sell tickets in 2023. This excitement can be monetised with a presale registration campaign which also builds a massive audience of engaged fans that organisers own and can market to.

This will help sell the remainder of the general on-sale while also generating and gauging demand. Owning ticket buyer data and marketing to them directly through channels like email and SMS, removes the need to rely on publishers like Facebook. This will reduce advertising costs and give organisers an engaged audience they can market to over and over again.

Leveraging the Power of Fans

Social media platforms now make it easier than ever for fans to connect with each other. By gamifying presale campaigns with social sharing and prize incentives, organisers can let fans do their marketing for them. This enables exponential reach, organically and means the message travels further, is more authentic and leads to increased sales at a lower cost.

“Post-event presale campaigns put more revenue in organisers’ back pockets, faster”

Ride the High

Running a presale campaign immediately after an event harnesses the success and emotion of this year’s event to sell tickets for next year’s.

Post-event presale campaigns put more revenue in organisers’ back pockets, faster. Going on sale immediately following an event locks in ticket sales and cash flow earlier, providing security and peace of mind.

The Race To Win Fans and Sell Out 2023

Even though at times it may seem like it, it’s not all doom and gloom for the live music industry. Fans will still seek to immerse themselves in live experiences, but it will be a question of which events will win their hearts, minds and ultimately business as they become more selective.

Audience Republic is the all-in-one CRM & marketing platform for events, venues and artists. We utilise presale registration, waitlists and unique gamified competition features to help increase ticket sales and return data ownership to event organisers.

 


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