E-tickets witnessed a paradigm shift from traditional event ticketing processes for various events. Most venue counters are nowadays encouraging individuals to purchase tickets in advance from digital platforms. Major trend observed in the online event ticketing market over past years is booking tickets through tablet, smartphone, or web applications.
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This trend has gained high popularity, owing to ease of use, flexibility of booking timings, user-friendly interfaces, and various attractive engagement marketing strategies developed by service providers. Many ticketing vendors are focused on providing mobile ticketing applications that generate e-tickets on smartphones as well as vendors are making their websites customer-friendly with various promotional methods, which attracts consumers with easy ticketing transactions and discount/ points benefits. Moreover, online event booking applications displays all information associated to event which includes ticket pricing, seating layouts, event venue, and other relevant information.
Rise in adoption of smartphones and personal computers, surge in disposable income, and growth in focus on paperless transactions are the major factors that drive growth of the online event ticketing market. However, lack of price supervision and uncertainty over ticket prices can hinder the growth of market. Contrarily, growth in penetration of internet and broadband services across the globe is an opportunistic factor for growth of the online event ticketing market.
Major online event ticketing systems are paid platforms or applications as they include service charges. Most platforms charge fee per ticket plus a percentage of the ticket price. As many entertainment industries have legacy architecture, which adds additional cost, make them charge high fees just to stay in business. In addition to fees from ticketing providers, one also needs to pay credit card processing fees, if used.
Moreover, most ticketing systems charge both credit card processing and ticket convenience fees to the ticket buyer. Approximately 85% of event organizers pass these fees to the buyers. Currently, most ticket buyers are expected to pay additional amount of service fee.
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