Ticketing has experienced a remarkable evolution in recent years, from once camping out for tickets to see favorite bands to today, where a single click via social media is all it takes to make a purchase.
The global online event ticketing industry is poised to reach nearly $68 billion by 2025, reports ResearchAndMarkets.com, and this growth is driven by a variety of factors, from increased internet access around the globe and a convenient purchasing experience to increased levels of disposable income.
The future of ticketing is here—discover our seven trends to see in 2020 and beyond.
Juniper Research predicts that the global mobile ticketing market will grow from 1.1 billion users in 2019 to 1.9 billion by 2023, with mobile ticketing for sporting events skyrocketing from $14 billion to $23 billion during this same timeframe.
The growth of mobile ticket purchases has made the experience more convenient for customers while reducing distribution and production costs as well as decreasing fraud, which affects up to 12% of online purchasers. Mobile will continue to proliferate, with public transit authorities around the world even adopting the technology.
Using mobile data (from previous purchases, social media posts, and more) tickets will become more personalized, with offers like customized event suggestions. As a result, smart ticket adoption is expected to increase 7% by 2023 according to Aventus Network, a digital assets-focused blockchain-based protocol.
If you were expecting big growth in biometrics (like facial recognition), you may be disappointed.
While ticketing giant Ticketmaster is taking steps toward the technology — and it has been shown to make events run more smoothly and prevent fraud — privacy concerns will slow its adoption, with prominent artists publicly rejecting it and key music festivals are vowing not to use it.
Blockchain may still be a mystery to many, but as its benefits for the ticketing industry — including increased security through encryption and greater control and transparency — become more apparent, more companies will move to adopt it in the coming year.
Embedded into tickets (or wristbands for concert- and festival-goers), radio-frequency identification RFID tags offer a variety of benefits — from shorter lines and enhanced security to serving up key data insights for more effective marketing. And because they’re difficult to replicate, they can also help prevent online ticket fraud.
In the last few years, online shoppers have gotten used to interacting with chatbots, which communicate via AI — to the point that they’ve begun to expect them. This is good news for ticketing, because while they might not need help buying tickets, many customers have questions about the payment process or want more event or venue information, and chatbots can help keep them informed and increase the odds of a completed purchase.
Allowing customers to purchase tickets wherever they find your event — Facebook, Instagram, and more — without needing to click to another site is what distributed commerce is all about. Increased adoption of the model could enhance the likelihood of purchase, as each extra step in a checkout process leads to a 10% decrease in transactions.
As technology advances, customer expectations will rise in lockstep. Ticket purchasers want an easy experience and the freedom to purchase when and where they want to, so make sure you’re poised to deliver in 2020 and beyond.
Check out: Why Your Ticketing Business Needs Affiliate Marketing
Tate Case Study: Discover how Tate’s ecommerce replatform designed a smooth purchase flow for tickets, memberships and donations.
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