The ticketing industry

The market size

In recent years, various market research agencies (Mordor intelligence, Xerfi, OSF digital) have conducted research on this ticketing market. In 2021, it is revealed that the turnover in the world for this market is around $28 billion. Moreover, they agree that this sector will experience strong growth over the next 5 to 6 years, around 7.5% per year, which will reach 95 billion in 2027.

The inherent problems in the existence of fake tickets

Fake tickets, in many regards, give rise to dissatisfaction, loss of time, and loss of money. More specifically, it induces :
More complicated access to the event:
  • Time-consuming arrangements for checking the authenticity of tickets.
  • Logistics required to reject participants with fake tickets.
Dissatisfaction of honest participants:
  • Longer waiting times.
  • Tensions due to usurpers occupying their seats.
Lack of confidence in the second-hand ticketing market:
  • Lack of platforms to regulate the resale of tickets.
  • Lack of technology to ensure authenticity of tickets.
Loss of revenue for organizers:
  • If there were no fakes, then more real tickets would be bought.
  • No commission is received on the resale of tickets.
The major challenges
So we can resume all these issues in two major challenges :
  1. 1.
    How to ensure that all the tickets presented are real?
  2. 2.
    How to guarantee the authenticity of tickets on the second-hand market?