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News |  07 Dec 2012 12:27 |  By zualachhangte

Ticketing is the only way forward for live music: KyaZoonga

MUMBAI: Tickets sales are the only way for live shows to be viable in India and progress is being made in the front, the country’s pioneering ticketing company KyaZoonga.com co-founder chairman and CEO Neetu Bhatia said.

It is estimated that the ticketing industry including movies, sports and concerts amongst others is worth $3-4 billion and is growing at 60-70 per cent Compound Annual Growth Rate (CAGR). “We believe ticketing is the only way forward for live events.  Before we undertook the Bryan Adams show in India (2011) sponsors accounted for 80 per cent of the revenues with tickets accounting for around 15 per cent. Our show changed that with tickets accounting for 60-70 per cent of the event revenues. The value that sponsors bring to the event is tremendous but ultimately its ticketing that will prevail,” Bhatia told Radioandmusic.com.

The pioneering ticketing company which is the official online and offline ticketing partner for Guns N’ Roses three-city tour in India is confident that the dependency of live shows on sponsors will soon be a thing of the past.

“Live music accounts for only 10-15 per cent of the ticketing pie. Growth of ticketing in live music events is happening because the quality of content has improved- better artists and better production, there is a change in mind set among people who don’t hesitate to pay for a good concert and better ticketing system which is hassle-free.” With a heavy traffic of fans and the sales figures achieved so far Guns N’ Roses tour in each of the cities- Delhi, Bengaluru and Mumbai- could see 15- 25,000 people turning up for the event. “The Guns N’ Roses show is the biggest India has ever seen- across the board. The production and scale will be that of a concert in Madison Square Garden (New York) or the O2 (London),” she pointed out.

The company, which  started in 2007 ticketing for movies and sports now, has a presence in multiple fields including live music acts.

The secret behind KyZoonga’s rapid rise in the ticketing business is its fully customized and IP (Intellectual Property) protected centralized structure whereby POS (point of sales which accounts for 15-20 per cent) outlets are constantly updated on inventory, adapting to local conditions and demands, scalability in operations (the company can scale its outlets to as low as 25 or high as 40,000) and bringing in industry best practices like democratization of ticket sales.

“Apart from our online ticketing system we have a retail distribution system located in retail big outlets. We train the personnel comprehensively and update them constantly. Anyone can buy ‘next best’ tickets either from the net or retail outlets which ensures sales are fair,” she added.

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