Meet Ed Vincent, founder of festivalPass, the world's first live events subscription service across music, film, food and wine, sports, theater, tech innovation and more. Betsy Westhafer and Tony Bodoh excitedly talk about how this model changes customer experience! For a long time, concert-goers and show-watchers have been trained to be subject to crazy convenience fees and surcharges for each performance. But now, users can enjoy thousands of events locally and globally for one monthly fee.
Ed talks about the desire to build a community around the $200B live event industry to make things easy, social and frictionless for his customers. While data is a huge part of their business, his approach is not something we’ve discussed on the podcast before. Ed covers four fundamentals needed to really make a marketplace successful:
- Root vs global density
- Hetero vs. homogeneous inventory
- Inverse Volume Price (1 high/1 low)
- Reason to come back
He is also generous enough to share his untraditional methods to raise capital.
What does this all mean and how can it help grow your business? Listen to find out more!
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