Few discounts and few Austin options on new NFT-dabbling concert ticket marketplace.
I was most confused by how to tell what's actually a discount. The ticket prices are largely the same as those offered on mainstream ticketing platforms used by venues, like, and some are even higher. Because tickets are sourced directly from the resale market, prices for say, an all-general-admission sold-out Keshi show this week at Emo's, can vary widely from $39 to $124.
Surprised that Vincent pointed out these numbers, I went on to compare festivalPass' listed ticket costs in credits versus dollars. Sure enough, the conversion is pretty consistently around $1.27 per credit. Basically, because I'm paying at the same rate the app is pricing, there's not many ways to land a discount in the bottom-tier $19-per-month subscription.
"For us, we're happy to give most of those fees back to our members in order to have them commit to being a member," says Vincent."I'd rather have lower margins and predictable monthly recurring revenue, which usually will turn into a bigger enterprise value for the company overall – versus a transactional business model, which might have higher margins, but doesn't have an ongoing relationship with the member.
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