TEG to launch cloud-based ticketing platform in China
TEG’s presence in Asia is about to expand, thanks to a new partnership with leading Chinese ticketing and live entertainment company, YongLe.
The joint venture will see the two companies launch a new cloud-based ticketing and entertainment platform in China, which is expected to be branded YunTek – which translates to “cloud technology” – and go live in 2018.
It is expected that YunTek will be an industry-leading platform, utilising end-to-end ticketing and live event management and allowing promoters and venues to self-manage their ticketing operations, produce effective marketing campaigns and use data analytics to guide every step of the ticketing and event management process.
In addition to the core ticketing and event management platform, YunTek will also launch a new tourism product, which builds on YongLe’s experience in ticketing and crowd management for large attractions such as The Forbidden City. The next iteration of the tourism product will combine data analytics, advanced digital marketing and self-service ticketing/QR code reader capabilities.
TEG chief Geoff Jones commented that TEG is excited about the opportunities that this new platform and joint venture will create.
“This is a game changer as we believe YunTek will disrupt the entire Chinese live entertainment market,” he said. “Not only are we delivering a new and innovative ticketing solution to the Chinese market, we are upending the traditional live events value chain.”
The news comes off the back of the announcement last week that TEG is expected to go up for sale by the end of the year.