U.S. Live Events Subscription Platform festivalPass Eyes Australia Launch
An innovative new U.S.-based subscription platform that offers members access to more than 80,000 festivals and concerts is already eyeing a launch in Australia.
Based in Austin, Texas, the home of SXSW, festivalPass is pitched as a discovery and lifestyle marketplace, where members can soak up a feast of live music, film and more, for one monthly fee and no added ticket fees.
At launch, members can redeem their credits for Coachella and ACL Music Festival, and tens of thousands of events across the U.S., including live shows featuring the likes of Dua Lipa, John Mayer and Billie Eillish.
Currently, subscription is priced from US$19-$99 and only U.S. residents can jump in. Members receive credits to access which can be used for events and experiences, and for reduced-rate rooms at more than 600,000 hotels around the globe.
The higher the tier, the lower the cost of the tickets.
Spearheaded by entrepreneur Ed Vincent, festivalPass claims to be the first festival and live events subscription model. And it has its sights set on a launch in Australia in the not-too-distant future, TIO can confirm.
When asked if Australia is on the festivalPass roadmap, Vincent responded, “in short, yes.”
The immediate plan is to “focus on North America in the near term as we target 1 million members on the platform. The first likely expansion will be to Europe followed by Australia,” he continues.
festivalPass CEO Ed Vincent
Other markets of interest include Asia and Latin America. “Our roadmap timing will be influenced by regional demand for our product and success in securing partners to help us grow in each region.”
As the country’s live entertainment space reopens and music fans clamor to venues and events around the country, Australia is an obvious choice for expansion.
According to Live Performance Australia, the live performance industry recorded its second highest revenue, attendance and average ticket price in 2019, when nearly 24 million tickets were issued to events, generating total ticket sales revenue of $2 billion. Those numbers folded in 2020, thanks to the pandemic.
The platform accepts cryptocurrency for subscription and ticket payments, and, from June 2022, launches its “Lifetime Founder NFT” for live events.
“As Web 3 became more mainstream throughout 2021,” he explains, “it became apparent that not only the technology of Web 3 but the philosophy of Web 3 supports our mission and goals to bring participation and ownership to the live event world.”
festivalPass Chief Business Officer Stephan de Bernede
Investors include Brian Sharples, co-founder HomeAway; Shelli Taylor, CEO of Alamo Drafthouse; and Jason Dorsey, Millennial and “Gen Z expert, all of whom are on the advisory board, joining Lisa Licht, former CMO of Live Nation, and others.
Stephan de Bernede, a ten-year plus HomeAway – VRBO executive and partner in a blockchain venture fund Translunar One, is festivalPass’ chief business officer.
The access model is “is ideally suited for emerging consumers,” comments Dorsey.
Read more here and visit festivalPass here.
This article originally appeared on The Industry Observer, which is now part of The Music Network.