GeoTix Launches Online Platform for Localized Digital Ticket Sales That Generate New Revenue for Media Companies
SaaS Solutions Provider Enables Media Companies to Gain a Competitive Edge and Expand their Audiences by Keeping Online Event Ticket Purchase Local.
- (1888PressRelease) September 29, 2017 - Traverse City, MI – GeoTix, a provider of SaaS solutions that generate new, non-advertising revenue streams for media companies, today announced the availability of its online platform for localized event ticket sales. The platform empowers local and regional media companies with an innovative means to grow both their digital portfolio and non-advertising revenue, while building their brand and role within their communities. This announcement follows on the heels of an announcement in August that the company has received $1 million in financing from Boomerang-Catapult and strategic investor Casey Cowell, co-founder of U.S. Robotics.
The GeoTix platform was designed to disrupt the current model of event ticket purchasing with national ticket sales providers, and keep local dollars within the community. The company's customer base is rapidly gaining adoption with media customers in more than 20 cities across the U.S. – including Cleveland, Detroit, Jacksonville, Louisville, Minneapolis, Omaha, New York and more – who are achieving a significant increase in revenue, as much as 127 percent in just three years.
Media companies and publishers are increasingly faced with how to monetize content through new dollars while creating actual audience development. Even the largest publishers, newspaper networks, and business journals are feeling the competitive squeeze from social media behemoths like Facebook and LinkedIn. As more customers gravitate toward social media, it becomes more difficult for media outlets to increase audience development by capturing the attention of new viewers, create new revenue streams that aren't advertising-dependent, and build their brand.
GeoTix addresses this challenge with a platform that enables media companies to leverage content they already produce – information about community events. Traditionally, audiences discover events from their local and regional media outlets. But to purchase tickets, they are redirected to a national ticket sales provider. The GeoTix platform connects event discovery with ticket purchase locally, reversing the trend of turning audiences over to national providers. Keeping ticket sales local creates new revenue for media companies, as well as an effective channel to capture email addresses and expand marketing databases.
According to a 2016 IBISWorld Industry Report, online ticket sales in the U.S. represent a $5 billion market opportunity. This research shows that the online event ticket sales industry has increased in part due to a significant shift toward digitized mobile ticketing, and away from physical tickets and at-home printing. Also fueling this trend is the fact that personal disposable incomes have increased over the past five years, and the music industry has continued its migration toward live performance.
"Media companies make an initial investment to produce local event content that serves their communities, but are losing out on a huge opportunity by sending their audiences away to a national ticket seller who then pockets a $3-5 per-ticket fee," said Deb Fellows, CEO, Geotix. "By taking on a direct role in providing tickets to their own local events as well as events throughout the region, they can cut out the middleman to generate new revenue, build out their email databases, and make their brand more relevant to consumers and event organizers alike. Furthermore, rather than consumer dollars going to a small group of national ticket sales giants or social media behemoths, those dollars stay within the local community – a win-win for both consumers and the local media companies that serve them."
To learn more, see GeoTix video at: https://vimeo.com/229712909/65beb0e6d9.
About GeoTix
Founded in 2015, GeoTix is a provider of software-as-a-service (SaaS) solutions that generate new, non-advertising revenue streams for media companies through local event discovery to ticket purchase. Removing the national ticket seller from the sales process, GeoTix empowers media companies to more strongly connect with their audience, reflect their commitment to community, and leverage existing content to create new revenue streams. In return, they gain the benefits of increased income, greater brand building, higher levels of web site traffic, and the ability to foster community relationships. For more information, contact 231-357-9107 or visit www.geotix.com.
Press Contact:
Denise Nelson
The Ventana Group
Danville, CA
925 837 6277
dnelson ( @ ) theventanagroup dot com
http://www.theventanagroup.com/
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