Spectacular

• 

  Buying ticket

• 

  View all ticket (active/old ones)

• 

  Home page

• 

  Ticket

Introduction

Good morning! I'm Cédrick, a student at the University of Sherbrooke in Québec, Canada. I'm finishing my bachelor's degree in business administration and I’m really excited to be here with you today to present my idea.

Problem

Before I start, I must introduce you to my good friend Tom. Tom is a singer-songwriter. 5 years ago, he decided to launch himself into the void and focus 100% on his music. Unfortunately for him, his career did not take off yet. Tom is a great singer and guitarist, his songs have thousands of listens on music streaming platforms and he does several shows a year. Tom's real problem is that he can't get paid what he's worth, so he had to find a second job to make ends meet! To give you an idea, here's how much Spotify, the world's largest music streaming platform, pays. In Canada, a single that is downloaded 40,000 times is certified gold. For this number of downloads, Spotify pays the artist $216.86. That's minimal! As you can see here, artists only receive 12% of the industry's revenue. The average annual salary for a musician who breaks into the market is $35,000 USD. Finally, most of the yearly income comes from live performances (for the big-name artists). In short, we notice 3 major problems: very few artists live from their passion, the services available do not allow them to fully exploit their talent and the payroll systems of the services in place are already backlogged.

Solution

Our solution? Spectacular: An online ticketing service developed on the EOS ecosystem allowing artists to be paid more and users to have a better experience! What really sets us apart from other online ticketing platforms is that our artist compensation system is much more advanced. You've probably already experienced the situation where you want to buy a ticket of your favorite artist, but the tickets are already sold out a few minutes after the launch. The main reason is that there are many programs that are automated to buy multiple tickets and resell them at a higher price. With each resale of a ticket, the artist does not receive any money. Our platform will allow them to get a percentage of each ticket resale. In addition, users have an interest in keeping their tickets. By using the "NFT" technology, each ticket will have a very aesthetic and pleasant design. Each ticket will be able to give exclusivities that are determined by the artist. The artist can decide to make an exclusive show for the holders of 3 tickets of his last shows. In this way, we ensure a fair remuneration of the artists and a good engagement of the users.

Business Model

The business model is very simple. To get customers, we will focus on acquiring artistic talent on our platform. Since the artists already have a fanbase and our platform will be the best for them, it should be easy to attract them to our platform. Through word of mouth, we will be able to grow the number of users organically and without immense marketing effort or cost. As for the remuneration, let's suppose that Tom sells his show tickets for $20 each, he will benefit from 90% of the ticket price while the platform will have 10%. What is interesting here is that the artist will also receive 8% from each ticket resale (the platform will get 2%). Thus, the artist and the platform will receive passive income. For the platform, more artists mean more shows and therefore more tickets sold. With the growth of the platform, the income becomes exponential.

Competitors

We will not hide that there are many competitors. However, they all revolve around two axes: Moderately artist-friendly and a decent user experience. Spectacular will truly be in a class of its own.

Team

Our team is currently very small. It consists of myself. I have help from EOS Nation, a company that is expert in blockchain technology. The prototype is currently being developed by students at the University of Sherbrooke.

The market

The market for online ticket sales is huge. By 2022, it is estimated to be a $65 billion market. According to Ticketmaster, 80% of sales on their site are music related. However, $27 billion is associated with the "Sports" category. In general, a compound annual growth rate of 7% is projected, which would equal a projected growth of 52% from 2022 to 2027.

Go to market

The "Go to Market" is super simple. First, the creation of the company will have to be done. Then, the prototype will have to be completed and functional. Financing and marketing will follow. Finally, the platform will have to be optimized and integrated with other systems to allow the official launch. As you can see, we are very early in the process, but the funds from this grant will be crucial to complete the working prototype and to possibly start a marketing campaign with artists.

Spectacular is a way to put artists back in control of their careers and for users to enjoy the process of buying tickets as much as the show itself.

Built With

• eos