The online events and ticketing industry has depended on the ebb and flow of the global economy. The potential of the in industry has been determined by consumer sentiments and their disposable income. The global economy has been able to recover from the recession and this has led to improvement in sentiments, leading to a strong willingness to be a part of events and happenings. Furthermore, the convenience associated with new technologies has also led to more people attending events, visiting theatres and loosening their purse strings.
The growing popularity of the internet has certainly been a boost to the industry. This is equally helped by the rise of smartphones and tailored applications that let audiences grab a seat or book a show instantly from anywhere. Over the last 5 years, more than 25 new websites and 274 sellers have entered the industry. Spending power has been able to drive this industry from a growth rate of 3.1% to over $4.5 billion in 2014 alone. Existing participants in the industry are consequently increasing their product offerings to get a greater reach over the market. However, the event and ticketing industry has also experienced a high degree of market concentration wherein 56.6% of the market share lies with the top 5 companies.
SITSL events and tickets industry service offerings
Ticket management system
Provide software to better management of tickets and make it easy to proceed the request
eTicketing portal development
Eticket increasing popularly which need of portal development with specific featured which we provide
Mobile solutions for events and tickets
For events and tickets we provide affordable applications for mobile and all devices
Event website and web applications
We develop quality event websites and web application to make it easy for users and organizations
Database system for events and tickets
We provide flexible and easily handled database for managing ticket booking and events
Featured advertising tools
We provide advertising tools which increase popularity and revenue of your business
Online registration systems
We develop platform and form for online registration for events which make it easy to handle
CRM application development
We are best at CRM application development with skilled developers and fully featured plugins
Industry challenges and opportunities
Unregulated industry practices
Though the online events and ticketing industry has several consumer benefits, many practices have in fact led to a consumer backlash. A good example would be consumers depending on the online booking but see that the tickets have been sold in a few minutes or less. The reason had been brokers getting the whole bunch of tickets and reselling them at higher prices.
Customization and personalization
Every player in this industry has been highly dependent on personalization of products suiting the specific tastes of the audience and their locations. While revenue forecast is set to increase, it is largely limited to the companies who have already established themselves. New entrants just have creativity in marketing campaigns at their disposal.
The online event and ticketing industry is a part of ecommerce business. Consequently, it experiences risks related to transactions and data transfers. Random portals have failed to integrate scrutiny and the overall industry has suffered from lack of confidence.
How SITSL offers business values
SITSL developers have been closely associated with the event and ticketing industry. Our team has worked on some of the leading brands, web interfaces and important applications that are defining the current industry trends.
Media management: Our developers have been able to create holistic approaches to targeting, storing, managing and communicating over secure and convenient digital platforms.
Multichannel systems: Making a presence is importance and we would be able to craft solutions that appeal to every type of audience and across several devices and operating systems.
Customization: Competition in the online ticketing industry can only be overthrown with in-depth customization and recognition of audience preferences.