As technology continues to improve and the market for live events and music sales becomes increasingly competitive, event promoters and music labels can rely on data and analytics to help drive business and improve their future. On April 4th and 5th, I had the pleasure to attending the first ever, annual XLIVE Data & Analytics Summit at the Paley Center for Media in Beverly Hills, CA. Participating companies included Ticketmaster, Live Nation, Warner Brothers Records, Eventbrite, Steez Promo (Moonrise Festival), AC Entertainment (Bonnaroo), Google, and a multitude of others.
Some panels discussed the different methods in which companies track and interpret data. As one might guess, social media is one of the most widely used methods. Companies often look at what time of day photos are posted on Instagram and the number of comments or likes it receives in order to better understand its audience. Companies can also use data and analytics to better help identify their target audience. When a company knows its audience, it can use this information to make the most well-informed marketing decisions.
Data and analytics can also be used to make ticket purchases more fan friendly, and ensure that fans purchase their tickets earlier than ever before. Evan Weinstein of Steez Promo, a successful Baltimore, MD based electronic music promotions company shared how he was able to successfully sell 5,000 tickets to the Moonrise Festival prior to its lineup announcement. He did this simply based on the festival’s previously established audience and hype surrounding the festival itself. We have seen this happen on a larger scale with events such as Coachella and Electric Daisy Carnival. One popular way discussed at this year’s Data & Analytics Summit to help festivals drive ticket sales is through creating their own mobile applications, and continuing to provide unique content to fans year round that they do not have access to anywhere else.
XLIVE E-Sports will take place in New York City from August 22nd through 24th, 2017. The Annual XLIVE Convention will take place in Las Vegas, NV from December 10th through 13th, 2017. Registration is now available through the XLIVE website.