Virtual ticket prices should reflect the value
When you have decided to live stream a concert, show or theatre production, the next big issue you have to figure out is what to charge. The Norwegian stand-up artist and producer Rune Bjerga has a clear stand on this matter.
“I think too many artists are underselling themselves when it comes to what they are charging for their digital content. The audience gets a great experience brought straight into their homes, with professionalism at all levels. To produce this experience has a cost side, and for me it’s obvious that a virtual ticket should reflect this value,” he said.
This is why Rune Bjerga charged £30 for the virtual tickets to the live stream of the show NATURLIGvis with the Norwegian artist Veronica Simoné Fjeld recently. This price had no negative impact on the ticket sales.
Full price was no blocker
Mr Bjerga said: “This show premiered prior to the Covid-19 outbreak, and it was a huge commercial success before we had to pause it due to the Norwegian lockdown this spring. When we were able to perform again this autumn, it was with heavy restrictions. So we decided to go hybrid, and to live stream the shows through TicketCo Media Services as well as selling the limited number of physical tickets that we were allowed to.”
“£30 is less than a normal ticket for a show like this, but significantly higher than many other organisers have dared to price their digital content. We didn’t get any complaints, and as far as I can see the price was no blocker whatsoever for the demand. We sold a lot of tickets, and the show generated nice revenue for the artist and producer, created valuable commissions for the technical team during a difficult time, and brought popular entertainment to the audience.”
This was achieved without spending one single pound on advertising.
“The special thing about these streaming events was that our marketing budget was actually zero. Veronica Simoné Fjeld has a huge follower base on social media – and we wanted to see if we could reach these organically. We succeeded very well, and eventually there was a bit of sport in seeing how far we could reach without spending marketing money. It actually took us from start to finish,” Mr Bjerga said.
Planning hybrid events
He is now planning new productions in collaboration with TicketCo Media Services.
Rune Bjerga said: “As a start, we plan to run another round with this show in December. The demand for Veronica Simoné Fjeld is probably not covered yet. Then I have other productions in mind.”
“I have also started planning for the situation after the Corona virus, whenever that may be, and I am convinced that streaming will be a vital part of how concerts and shows are set up in the future. In my business we will then organise hybrid events, where those who do not have the opportunity to be present physically can participate via streaming. Our experience with TicketCo Media Services has been very positive and we see that audiences have embraced our streaming of NATURLIGvis. This tells us that streaming is something we should do more of.”
“Price is what you pay, value is what you get.”
– Warren Buffett
At TicketCo we have built our business on providing an easy to use digital platform for event organisers, artists, and venues to sell tickets and market their events. We have always been at the forefront of developing our own technology to adapt and provide a service and platform that is relevant in the digital age.
When lockdown hit the industry the team at TicketCo soon realised it was an opportunity and the company invested in R&D to develop and launch TicketCo Media Services, a new pay per view live streaming and video on demand service. It is combined with our ticketing platform so organisers and artists can monetise digital content and events.