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Fans still buying tickets, startup CEO says

July 2, 2009

So how’s the market for sports and concert tickets holding up, given the economic turmoil that has dominated the public imagination since last year? Better than you’d think, according to Mike Janes, the founder and CEO of FanSnap, a live-event ticket search engine that launched in March.

“People’s appetite for the shared experience of a game or show hasn’t changed. Their bank accounts may have changed, but not the desire,” Janes said.

The difficult economy has had the effect of bringing many ticket prices down, he said, meaning there are plenty of bargains out there. While there will always be insatiable demand for big-name performers or games (Springsteen; Yankees vs. Red Sox) keeping those ticket prices high, Janes said tix for your average major league baseball game can be had for below face value in some cases, as folks looking to resell tickets flood the market with supply. It’s a bit too early to see about NFL games, he said.

FanSnap, whose main investor is VC and private equity firm General Catalyst Partners, runs in a similar way Kayak does flight searches. Since there is so much variability in ticket prices (unlike in airline tickets) FanSnap’s search engine turns up seats within mere feet of each other — displayed on a nifty interactive map — but with very different asking prices.  (Janes said the site aims to “make it really hard to overpay for tickets.”)

FanSnap has deals in place with dozens of vendors and re-sellers, including big names like StubHub and RazorGator, and is working to bring others into the fold.

Comments
4 comments so far | RSS Comments RSS

For many people going to a concert or a game is like a short escape from everyday life. They may put on hold buying a property or a new car, but food and entertainment probably are the last things they’re willing to sacrifice.

 

One more thing is that about sport tickets is so less because of the world trade and recession also.The market has been flooded.Prices has let down for sports tickets.

 

It unbelievable how many tickets are for sale

Posted by Wow | Report as abusive
 

The unemployment rate is very high, but the people that are working have increased their savings rate significantly. So those who are working do have money to spend.

Ticket prices used to be ridiculously high. As the economy drags down prices people with savings and money to spend can jump on bargains on lots of stuff. Prices are falling everywhere, so people that have savings can take advantage.

 

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