More Security, More Ticket Sales

More Security, More Ticket Sales

September 13, 2018 Off By administrator

More than 70 percent say they’d go to more events if buying online felt safer

Among respondents in a new survey, 12 percent said they had bought tickets on the secondary market that turned out to be fakes. (VenuesNow staff)

Concertgoers said they would attend more events if buying tickets online felt more secure, according to a new study.

Results of the online survey, being released Thursday, show 72 percent of the survey-takers said they’d go to more concerts if they felt online ticketing were safer. The survey also found that 12 percent of respondents said they had bought tickets on the secondary market that turned out to be fraudulent.

It’s usually at a venue that the consumer finds out tickets are no good and that creates headaches for the venue operators, said Annika Monari, co-founder of Aventus, a blockchain-based software firm that started in April 2016. 

Aventus put the survey together and, using Amazon’s Mechanical Turk service, queried 1,000 U.S. consumers who have bought a concert ticket online. The margin of error for the survey results is plus or minus 3 percent.

“Often the venue will try to accommodate the guest, but that’s just not possible in every case, and often the customer blames the venue for something that is totally out of their control,” Monari said. “Many get back their money if they bought the ticket through a reputable secondary ticket firm, but that’s no consolation for not seeing your favorite artist or helps in getting back the expenses incurred to get to the venue.”

And it’s not just the venues that wind up with a black eye. Of respondents who fell victim to a scam, 54 percent said it affected their perception of the artist negatively.

Blockchain may hold the key to solving this consumer crisis.

“Blockchain is a smart-contract platform that allows us to create digitally enforceable agreements,” Monari said. “The agreements cannot be controlled by any one entity.”

In the context of ticketing, it means that the industry can allow people to put their inventory on the blockchain and that the inventory is then secure and can’t be manipulated, she said. “Everyone can see the chain,” Monari said. “It’s a public record of every transaction. Blockchain is the plumbing that connects the supply chain underneath.”

Aventus’ customers are ticket companies, venues and artists.

“Blockchain is tool that should alleviate ticket-buyers’ fears that they are being scammed,” said Aventus’ other co-founder, Alan Vey. “Because of the unique way that blockchain records a ticket, it cannot be reproduced in any way except for when the blockchain sends that unique code to a specified digital wallet.”

The survey results indicated that men are more likely than women to be conned when buying tickets. The study found that men were nearly 2.5 times more likely to be scammed than women.

“There are many reasons why this might be the case,” Monari said. “It could be…

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