Whether you are starting a new company or simply looking to enhance your existing business, there are many factors to consider. One of the biggest issues to consider is how to price your product. You have to consider the competition from other promoters who do VIP themselves, as well as the genres that work well with VIP ticketing.
Andrew Tenenbaum
Founded by Andrew Tenenbaum, Future Beat VIP Ticketing works with artists to create packages that maximize revenue through exclusive experiences. In 2016, the company did over 80 tours, and expects to do 180 to 200 tours in 2017. The company has worked with artists including Elvis Presley, Marvin Gaye, Bruce Springsteen, Bon Jovi, and Fleetwood Mac. The company offers VIP packages at a variety of price points. Ticket prices are generally less than the market.
Future Beat’s VIP Ticketing is expanding as artists recognize its value. The company works with artists to develop custom packages, and the company prices its tickets at below market rates. In addition to working with artists, Future Beat also offers tours at a variety of price points. For example, it has worked with the estates of The Beatles, Elvis Presley, and Frank Zappa.
Wendi Jensen
Founder of VIP Music and former touring director of CID Entertainment and On Location, Wendi Jensen has been a jack of all trades in the music industry, including stints as an artist and as an executive. She has a hefty resume in the music industry, with over 10 years of experience in curating revenue-generating experiential events. Her latest project is a tidbit of information, the world’s largest interactive music display. She also has an impressive resume in the business of spotting talent. She has vetted hundreds of singers and musicians, and possesses an impressive list of contacts in the industry.
Pricing
Founded by former Warner Bros. Records executive Mark Weiss, 237 Global provides access to fans, paid VIP experiences, and exclusive live streams. Recently, Shawn Mendes joined its advisory board. In addition to providing fans with virtual VIP experiences, the company provides music managers with an accountability team, monthly coaching classes, and access to music industry experts. It also provides access to its own data, including the ability to purchase tickets to shows in its catalog.
The company also offers a broad range of services, including trademark development, VIP ticketing experiences, concert merchandising, and an official fan community. The company has worked with a wide range of artists, including The Beatles, Elvis Presley, and Marvin Gaye. It continues to add features to its platform, including internal message boards and commerce opportunities.
Genres that work well with VIP ticketing
Having a tiered VIP ticketing strategy can be beneficial to an artist and its fans. This strategy allows the artist to promote the VIP ticket as an exclusive experience and a competitive opportunity. A tiered VIP ticketing strategy can be a good way to attract a variety of fans, from die hard fans to casual fans. Each tier of the VIP ticketing package needs to offer benefits that fans expect.
The most popular genres for VIP ticketing are rock, R&B, soul, pop, and EDM. These genres all have strong fanbases that are willing to spend an extra $20 or $100 for an exclusive VIP experience. Merchandise accounts for a substantial portion of sales, so offering merchandise for VIP ticket holders is a great way to increase revenue.
