What is concertgoers and sports fans’ toughest decision?

When to buy tickets. Should you pull the trigger now before prices skyrocket, or wait before an event for prices to decrease?  No need to look much further for your answer.  We’ve got it.

SeatGeek forecasts ticket prices using an algorithm that crunches data from secondary ticket market websites.  Our site then presents relevant information on ticket transactions to consumers.  More simply put, we make ticket buying easier for the customer, and essentially more affordable.

Knowing exactly when to buy seems to be the fundamental problem in ticket purchasing, but SeatGeek aims to eliminate that altogether.  They do the grunt work for you so that you can purchase easily.  Buyers can simply opt for an email notification directly through the website and SeatGeek will inform them when the time is right to buy.  Sellers, on the other hand, ultimately benefit by being able to determine at what point is best to rid of their tickets.

Formulated by a pair of recent Dartmouth graduates, not unfamiliar with what it takes to run a startup having already developed and sold an earlier company called Scribnia, SeatGeek’s forecast thus far have an 82% accuracy rate.  The algorithm takes into account certain factors that influence ticket sales, for example, the venue, the weather, a team’s records, etc.

Acquiring this information helps SeatGeek to more accurately and efficiently predict these ticket prices, so the customer is ultimately getting the best possible deal. Curious as to how SeatGeek profits from all of this?  Pretty simple.  Each time a consumer purchases a ticket through the website, SeatGeek holds on to 7-12% of the sale price.  So get buying!

Currently, SeatGeek forecasts ticket prices for NFL games, MLB games, and select concerts, but we are working to include predictions for the NBA and NHL.  We also plan to launch the SeatGeek Ticket Portfolio, a subscription service for season ticket holders to increase their profits reselling tickets.

We are also building a subscription service for professional ticket brokers called SeatGeek Pro, including information and predictions brokers may need in order to increase their profits.

And what if, after all, SeatGeek is wrong? Well, we’d like to hope that never happens, but if it does, we hope to offer “forecast insurance” so that customers can hedge against our predictions when necessary.  This insurance will guarantee users the difference in the event that SeatGeek’s prediction isn’t correct, so ticket buyers won’t be losing money.

SeatGeek aims to please, giving buyers an easy opportunity to browse the best possible prices in existence. With that said, there are a lot more great things to come from SeatGeek in the near future.

We welcome comments, questions, and feedback from the alternative search community.

This entry was posted on Thursday, December 3rd, 2009 at 3:53 am and is filed under Guest Authors, Ticket, Verticals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.