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Twickets reveals next steps after record quarter

Twickets founder Richard Davies has revealed to IQ that the company’s revenues from international territories have doubled from pre-pandemic levels.

The face value or less fan-to-fan resale site is coming off its best-ever quarter in the midst of a huge summer for live music in the UK. In excess of 300,000 tickets were listed on the platform from May to July, with gross revenue up 140% compared to the same three months in 2019, with single tickets making up 40% of sales.

According to the firm, 74% of ticket sales now come in the first 48 hours post-listing, while two-thirds of tickets sold are within a week of the event itself.

“Post-pandemic there’s been a very positive impact on resale activity, as reflected in our recent results,” Davies tells IQ. “With so many more events scheduled –and rescheduled – coupled with fans changing their own plans, we’ve seen a real surge in trading.

“With the majority of tickets listed on secondary platforms coming from ‘brokers’, fans have come down on the side of our ethical approach to resale.”

The company says that 1.5 million unique users visited the Twickets platform during the three-month period, while a record 18,500 alerts were set up for the Taylor Hawkins Tribute Concert, which takes place at Wembley Stadium on 3 September. Twickets is the benefit show’s official resale partner and will be donating its fee from the event.

“Growth has been particularly strong in mainland Europe”

Established in 2011, the London-headquartered company works with more than 300 live entertainment partners in the UK including venues, artists, promoters, festivals and ticketing companies, and confirmed a link-up with the UK’s Music Venue Trust earlier this year, with a number of significant new partnerships to be announced soon.

Backed by several high-profile managers, agents and promoters, Twickets also has local operations in the US, Spain and Australia, with further overseas expansion plans on the horizon.

“Revenue from international territories has doubled since pre-pandemic levels, and growth has been particularly strong in mainland Europe,” says Davies. “As a result, we’re now focused on building a local Twickets team in key territories there, notably Germany and France.”

The firm, which has previously partnered on tours by artists such as Adele and Ed Sheeran, used the downtime inadvertently provided by Covid-19 to enhance its services.

“We invested a lot of time re-engineering our apps during lockdown, and have subsequently witnessed a large increase in adoption rate,” says Davies. “Over 70% of users now access Twickets through mobile.

“Furthermore, the introduction of an ‘events happening near you’ feature in the app has increased last minute purchases by those seeking inspiration for a local night out.”

 


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Music Venue Trust confirms Twickets partnership

The UK’s Music Venue Trust (MVT) has confirmed a partnership with capped ticket resale marketplace Twickets.

Established in 2011, Twickets works with more than 300 live entertainment partners in the UK including venues, artists, promoters, festivals and ticketing companies.

“We are delighted to become a partner of MVT,” says Twickets founder Richard Davies. “This is a key development for us as it further embeds the business as the legitimate face of resale, working to bring fairness and transparency to event-goers everywhere.

“Our goal is always to improve the ticket buying experience”

“Our goal is always to improve the ticket buying experience, and we look forward to collaborating with all members of MVT to prevent blatant profiteering in the secondary ticket market, which not only harms fans but damages the industry as a whole.”

A charitable organisation, the MVT was founded in January 2014 to help protect, secure and improve music venues in the UK.

Mark Davyd, MVT founder and CEO, adds: “We are really pleased to welcome Twickets as one of MVT’s partners. Their mission to enable fans to resell tickets they can no longer use for the price they paid or less aligns well with MVT’s goals to keep tickets out of the hands of touts and in the hands of genuine grassroots gig going fans. Customers can buy from Twickets with the reassurance that they are supporting grassroots music venues across the UK.”

 


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IQ 107 out now: Industry heads map the road ahead

IQ 107, the latest issue of the international live music industry’s favourite monthly magazine, is available to read online now.

In the January 2022 edition, industry leaders from around the world share their thoughts about the state of the industry and the recovery of the sector, over the coming weeks and months.

Elsewhere, the IQ news team looks back at the trends, deals, events and, of course, the Covid restrictions that made the headlines during 2021.

On page 34, IQ Magazine editor Gordon Masson explores the benefits that blockchain technology can offer the live music industry.

For this edition’s columns and comments, Wayne Forte details the process behind producing his critically acclaimed Mad Dogs & Englishmen documentary, and Richard Davies urges the industry to adopt a more strategic approach in its efforts to beat ticket touts.

And, in this month’s Your Shout, Dan Steinberg (Emporium Presents), Rob Challice (Paradigm), Mark Davyd (Music Venue Trust) and Nick Hobbs (Charmenko) describe their best moments of 2021.

As always, the majority of the magazine’s content will appear online in some form in the next four weeks.

However, if you can’t wait for your fix of essential live music industry features, opinion and analysis, click here to subscribe to IQ for just £5.99 a month – or check out what you’re missing out on with the limited preview below:


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SJM Concerts partners with Twickets

Twickets has been appointed the official resale partner of SJM Concerts’ Gigs and Tours.

The partnership with SJM, one of the UK’s leading concert promoters, will provide a fan-friendly resale option for all tickets purchased through Gigsandtours.com, allowing users to list tickets for sale via Twickets’ website or mobile app at no more than the price originally paid.

Launched in 2016, Twickets has since served as the official resale platform for leading artists including Ed Sheeran, Stormzy, Foo Fighters, Arctic Monkeys, Mumford & Sons and Elton John. It now attracts more than three million users to its ticket marketplace every year.

“Providing a safe, secure and easy way to resell tickets is best practice”

“We continue to strive to not only offer our customers an efficient and straightforward purchasing experience, but also help them when things don’t go to plan,” explains SJM Concerts’ Matt Woolliscroft. “Providing a safe, secure and easy way to resell tickets is best practice and yet another step Gigsandtours.com is taking to innovate and improve concertgoing.”

Twickets founder Richard Davies says: “The UK is in the midst of a market shift away from rip-off secondary ticketing platforms and towards consumer-friendly resale services. I am proud Twickets is at the forefront of this change, and delighted we can bring our expertise in resale to such an important player in the UK music scene. Our goal is always to improve the ticket buying experience, fill venues and keep customers happy.”

 


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