While the pandemic took much from us, one of the most significant impacts it had financially was on the live entertainment industry. Suddenly, you couldn’t go to the theatre to see a movie opening night, or enjoy the voices of a crowd singing along to their favourite songs. Now, as the world recovers from COVID, these hallmarks of artistic expression are returning, and companies such as TicketMaster are finally back in business. But in a post-pandemic world, people have changed, and their seeking new, innovative ways to do what they had done before in a fresh way.
The ticketing industry is changing, and with your own on-demand ticket marketplace app like TicketMaster, you can dive into this ever-growing market of event tickets. There are thousands of events being organized day in and day out from music festivals to sporting events, stand-up comedy gigs to movie premieres. But how much of an investment would it be to join this industry? Let’s explore the benefits of the development of this kind of app and what it would entail making your ticket marketplace dreams a reality.
TicketMaster started as an idea by a few college students back in 1974. It went on to revolutionize the way the United States bought its event tickets. What initially started as a simple platform for finding local events in a registry soon grew into an enormous marketplace for purchasing tickets to events ranging from Broadway shows to NHL games.
TicketMaster is responsible for bringing cutting-edge technology to the worldwide ticket booking industry:
1. It was the first platform to introduce online ticket booking, and consequently started the market.
2. It was the first platform to introduce the bar code entry systems in NFL and NBA stadiums
3. It was one of the first platforms in the industry to market itself as a unique and exclusive partner to large sporting franchises.
Now, TicketMaster is part of a strong and growing network of platforms in various markets of ticket booking such as Live Nation, TicketsNow, TicketWeb and House of Blues
Since its inception, TicketMaster’s core business has extensively evolved and adapted. If you plan to launch your own event ticket booking marketplace like TicketMaster, you would benefit by studying the trajectory of their business’s evolution. The most important factors to consider are:
There are established business models and several giants who lead the market, yet there are many events which go unnoticed or are inaccessible to the right audience. In addition to this, there is a market for locally adapting the idea of a ticket marketplace like TicketMaster in a way that includes all major and minor events in a locale, to serve both the masses and the niche market. This is where we at Let’s Nurture, a leading mobile app development company, can help you out.
We are an experienced team of developers, UI/UX designers, business analysts, and product managers. We have experience working closely with clients entering into new areas of business. We believe in standing right beside you throughout the product’s development and helping you out with every step of ideation.
TThe net cost of developing an app like TicketMaster would be CAD 35000 to CAD 39000. Let’s have a closer look at the features this app would have.
|App Users||Admin Panel|
|Registration/ Login/ Signup||Dashboard|
|Phone Validation/ Forgot Password||Manage Users|
|Search Location/ Movies/ Advanced Search||Manage current and upcoming Events|
|Book tickets/ Seat Selection with Layouts||Settings|
|Check Out with Ticket Summary||Manage Wallet/ Withdrawals|
|Payment Option/ Pay Later/ Ticket PDF||Manage Orders|
|Booking History||Manage vendors|
|View/ Apply Coupons|
|Cost of On demand ticket booking marketplace||CAD 35000 to CAD 39000 for both iOS+Android|
|App Users||Admin Panel|
|Loyalty and rewards||ManageTransactions|
|Mobile wallet integration||Dashboard Analytics|
|Support Chat||Customer Analytics|
Having a live chat can immensely help you connect to your audience. You can have an integrated solution that connects them directly with sales representatives, an algorithm that takes care of the common queries, or a hybrid model.
The data is generated by the user accounts and general browsing through the app. These dashboards help you understand the data using custom metrics and analytics report
Being a leading on-demand application development company in Canada, India, USA, Singapore, and Australia, Let’s Nurture has in-house experts who can help you build a robust and scalable ticket booking app like TicketMaster with unique features. Resources needed for on-demand ticketing app like TicketMaster are:
Experts with considerable experience in developing iOS/Android apps
Guaranteed app approvals on both iOS and Android app stores.
Consultation on strategic features and their development.
Development within Apple and Google Play Store Guidelines.
Efficient testing strategies.
Affordable estimations and costs.
Expertise in developing marketplace apps with a rich portfolio.
The ticket marketplace industry is a profitable market at the moment and in dire need of local players who can provide data-backed, unique, and insightful apps. We can help you achieve exactly that.
We estimate a timeline of 13 to 15 weeks considering a website will need to be made in addition to the two native apps on Android and iOS.
Primary ROI: Membership fees & transaction % share
Secondary avenues of ROI::
Featured Vendor: Payment for displaying at top of search results.
Augmented Ads: Charge vendor for displaying AR Content on the platform.
Gamification: Discounts at specific businesses with high ticket value to boost platform %.
Google AdWords Registration: Ad display and ad click revenue.
Affiliate Integration: Rakuten LinkShare for product purchase commission.n
Have an idea or need help with app development?