{"id":15299,"date":"2019-06-06T23:46:34","date_gmt":"2019-06-06T23:46:34","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/the-ticket-fairy-is-techs-best-hope-against-ticketmaster.html"},"modified":"2019-06-06T23:46:34","modified_gmt":"2019-06-06T23:46:34","slug":"the-ticket-fairy-is-techs-best-hope-against-ticketmaster","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/the-ticket-fairy-is-techs-best-hope-against-ticketmaster.html","title":{"rendered":"The Ticket Fairy is tech\u2019s best hope against Ticketmaster"},"content":{"rendered":"

Ticketmaster\u2019s <\/a> dominance has led to ridiculous service fees, scalpers galore and exclusive contracts that exploit venues and artists. The moronic approval of venue operator and artist management giant Live Nation\u2019s merger with Ticketmaster in 2010 produced an anti-competitive juggernaut. It pressures venues to sign ticketing contracts under veiled threat that artists would otherwise be routed to different concert halls. Now it\u2019s become difficult for venues, artists and fans to avoid Ticketmaster, which charges fees as high as 50% that many see as a ripoff.<\/p>\n

The Ticket Fairy<\/a> wants to wrestle away from Ticketmaster control of venues while giving fans ways to earn tickets for referring their friends. The startup is doing that by offering the most technologically advanced ticketing platform that not only handles sales and check-ins, but acts as a full-stack Salesforce for concerts that can analyze buyers and run ad campaigns while thwarting scalpers. Co-founder Ritesh Patel says The Ticket Fairy <\/a> has increased revenue for event organizers by 15% to 25% during its private beta focused on dance music festivals.<\/p>\n

Now after 850,000 tickets sold, it\u2019s officially launching its ticketing suite and actively poaching venues from Eventbrite <\/a> as it moves deeper into esports and conventions. With a little more scale, it will be ready to challenge Ticketmaster for lucrative clients.<\/p>\n

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Ritesh\u2019s combination of product and engineering skills, rapid progress and charismatic passion for live events after throwing 400 of his own has attracted an impressive cadre of angel investors. They\u2019ve delivered a $2.5 million seed round for Ticket Fairy, adding to its $485,000 pre-seed from angels like Twitch\/Atrium founder Justin Kan, Twitch COO Kevin Lin and Reddit CEO Steve Huffman.<\/p>\n

The new round includes YouTube founder Steve Chen, former Kleiner Perkins partner (and Mark\u2019s sister) Arielle Zuckerberg and funds like 500 Startups, ex-Uber angels Fantastic Ventures, G2 Ventures, Tempo Ventures and WeFunder. It\u2019s also scored music industry angels like Serato DJ hardware CEO AJ Bertenshaw, Spotify\u2019s head of label licensing Niklas Lundberg, and c<\/span><\/span>elebrity lawyer Ken Hertz, who reps Will Smith and Gwen Stefani.<\/p>\n

\u201cThe purpose of starting The Ticket Fairy was not to be another Eventbrite, but to reduce the risk of the person running the event so they can be profitable. We\u2019re not just another shopping cart,\u201d Patel says. The Ticket Fairy charges a comparable rate to Eventbrite\u2019s $1.59 + 3.5% per ticket plus payment processing that brings it closer to 6%, but Patel insists it offers far stronger functionality.<\/p>\n

Constantly clad in his golden disco hoodie over a Ticket Fairy t-shirt, Patel lives his product, spending late nights dancing and taking feedback at the events his clients host. He\u2019s been a savior of SXSW the past two years, injecting the aging festival that shuts down at 2am with multi-night after-hours raves. Featuring top DJs like Pretty Lights in creative locations cab drivers don\u2019t believe are real, The Ticket Fairy\u2019s parties have won the hearts of music industry folks.<\/p>\n

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The Ticket Fairy co-founders. Center and inset left: Ritesh Patel. Inset right: Jigar Patel<\/p>\n

Now the Y Combinator startup hopes its ticketing platform will do the same thanks to a slew of savvy features:<\/p>\n