We (Ticket Alternative and Freshtix) were recently contacted by a local entrepreneur hoping to create a Spotify-like subscription service for concerts. The concept is simple. Pay a $25 per month subscription fee and attend an unlimited number of concerts. There wasn’t much more information they could give us but it looks like the service is going to be called Jukely. (Twitter @Jukely)
You can jump over to their homepage to add your name to their waiting list.
It will be interesting to see how/if this works. Most venues and promoters don’t sell ‘last minute’ unsold inventory at at discount because ticket prices are typically set out in an agreement between the promoter and agent. An offer sheet expects X numbers of tickets sold at Y. There are provisions carved out in advance for a variety of comp tickets for marketing, sponsors and others.
So, unless a company like Jukely can work out a deal with the venue or promoter, they will be paying full-price for each ticket. Which begs the question, what sort of inventory will they have access to? If I’m going to be able to attend even just 3 shows a month where the ticket price is normally $100 per ticket, then this deal is a scream. But if the company providing the service is having to pay $100 for each of those tickets, they’re not going to make much money off me! Unless of course there are some additional revenue streams. And even an affiliate program modal for tickets, which someone like Ticketfly offers ($.25 per ticket), isn’t going to bring them much revenue.
The company’s main tagline is that it is a “Matchmaker for concerts + friends. We magically match friends with upcoming concerts and help you start a conversation”
The Spotify model assumes that many subscribers don’t reach the full $9.99 per month worth of song royalties. Royalty payments on a song a but a few pennies. But, it will be very easy for unlimited concert subscribers to reach the full $25 per month worth of concert tickets. Especially if the concert tickets typically cost more than $25 in the first place.
It will be interesting to see how this plays out, so head to their home page and get on the waiting list.