Market Analysis & Competitive Landscape
Last updated
Last updated
According to Statista, the global events industry represents a multi-billion dollar market, valued at $887 billion in 2020 (estimated to be $2.19 trillion by 2028), while the event ticketing segment alone reached $71.4 billion in 2023. With a projected annual growth rate of 6.6%, the demand for streamlined and innovative event management solutions is undeniable. This growth is driven by great artists producing quality music, and a post-pandemic resurgence in people's desire for shared experiences. Humans are social beings, and events fulfil that inner desire for belonging and connection.
Current event management platforms center primarily on ticketing, and several key pain points persist for event organizers:
Fraudulent Tickets: Counterfeit tickets cause revenue loss and damage an event's reputation. Riskified estimates this cost to exceed $10 billion in the US alone.
Limited Marketing Tools: Organizers lack integrated tools for audience outreach and promotions.
Poor Data & Insights: Platforms offer minimal analytics to help organizers optimize strategies.
Delayed Payments: Holding funds until post-event creates significant cash flow problems for organizers.
High Fees & Frustrating User Experiences: Customers resent excessive fees, and system crashes leave a negative impression erroneously attributed to the event organizer.
Outdated Legacy Technology: Ticketing companies often rely on outdated legacy technology, resulting in frustrating long wait times when trying to buy tickets, which frequently fail. Additionally, these companies have experienced issues with scanning attendees into events due to technology failures, further inconveniencing both organizers and attendees.
eventflo directly addresses these pain points and positions itself as the next-generation solution:
Fraud-Proof Ticketing: NFT technology virtually eliminates ticket counterfeiting, protecting event revenue and organizer reputation.
Immediate Payouts: Organizers using FloCoin or the traditional Fiat payment gateway with our Stripe integration ensures organizers receive funds instantly, improving cash flow and eliminating post-event payment anxieties.
All-in-One Platform: Email/SMS marketing, a robust CRM, and customer service tools streamline operations and build lasting customer relationships.
Data-Driven Insights: eventflo gathers data to fuel AI-powered recommendations, pricing suggestions, and demand forecasting, giving organizers unprecedented strategic advantages.
Superior Technology: Leveraging web3 technology and serverless architecture, eventflo provides a superior solution compared to outdated legacy systems. This ensures no wait times for ticket purchases and reliable, issue-free entry at events. Our technology is stable and maintains 100% uptime, with fail-safes in place to handle potential internet disruptions.
Competitive Fees: See the below comparison:
Unlike existing competitors, eventflo is engineered to be a comprehensive event management solution. We empower organizers with the tools to address every stage of the event lifecycle, setting us apart as the clear choice for a technologically advanced and user-centric future in the event industry.
Platform
Fee Per Ticket
eventbrite
3.7% + $1.79
Ticketmaster
$5 - $9
Ticketek
$5 - $9
Ticketbooth
$1.10
Megatix
$1.10
eventflo
$1.10
