Why are Broadway tickets so expensive? Why is it so hard to get ticket discounts when nearly 19% of tickets go unsold annually on Broadway which is “roughly $300 million of unsold inventory.”
Merritt Baer and Brian Fenty noticed these problems that existed on the business side of the theatre and created a solution. Both men had a passion for theatre, however, their acting skills were not good enough for them to be actors so they looked for other ways to get involved in the business side of theatre. They turned their passion into a business by using their creativity. They came up with a way to get the unused tickets to be used by creating a ticket discount app called TodayTix that allows the buyer to buy discount Broadway and Off-Broadway tickets the week of (and due to a new update, up to a month) of a performance.
According to Fortune, TodayTix has “nearly $16 million in venture capital and has expanded beyond New York to four other American cities and to London. With headquarters in New York City, TodayTix now claims about 5% of all Broadway’s ticket sales, and at least 70% of TodayTix customers are millennials.” TodayTix was the first online ticket app to have online lotteries but now such lotteries are common to find online due to the many competitor copycats that have popped up since TodayTix started. However, TodayTix is the original idea and the app has truly changed the business of theatre ticket sales by making tickets more accessible and discounted.
So what are you waiting for- take a look at the app yourself and buy a ticket! Enjoy the show! #bergineblogs #actorapps
LINKS: http://fortune.com/2016/12/11/todaytix-broadway-theater-tickets/ https://www.nytimes.com/2016/02/24/theater/todaytix-makes-inroads-into-broadways-ticketing-business.html