Thought Leadership
8 minutes

Updated: 12/4/2023

The ticketing industry is constantly evolving and adapting to new technologies and consumer behaviors. As we enter 2024, several key trends are likely to shape the industry and impact how tickets are sold and distributed. Read on to find out the top trends and event ticketing technology to keep your eyes on this year.

Ticketing Trends 2024

Lights, Camera, Trends: Navigating the Evolving Landscape of the Event Ticketing Industry

Step into the dynamic realm of event ticketing, where cutting-edge technology and innovation are reshaping the way we purchase tickets, attend concerts, and immerse ourselves in live events. 

With the event ticketing market hitting $77B USD in 20231, the Event Ticketing market is poised for an impressive 9.7% revenue growth in 2024. This upward trajectory in the industry signifies an influx of innovative ticketing technology and solutions, accompanied by heightened competition. 

To stay ahead of the curve, it’s imperative to carefully follow the trends and latest developments in ticketing. Rest assured, we're here to keep you in the loop with this year’s advancements in ticketing. 

So, prepare for an exciting journey as we delve into the key trends that are transforming the event ticketing industry in 2024, and discover how you can remain at the forefront of this ever-evolving space.

biometrics for authenticaiton

Technology Advancements to Prevent Fraud

In the ticketing landscape, there is a growing threat from scammers and "bad actor" fraudsters. This can include automated bots, which are programmed to exploit vulnerabilities in ticketing systems and snatch up tickets in a matter of seconds. 

Synthetic IDs, which are fabricated identities created by fraudsters, have also become increasingly prevalent. These false personas are used to bypass security checks and fraud detection systems, posing significant challenges for ticketing companies.

Account takeovers are yet another facet of this multifaceted problem, with fraudsters gaining unauthorized access to user accounts and exploiting them to make fraudulent purchases. Ticketing platforms must implement solutions to protect both their revenue and their customers.

Ticketing companies and platforms are increasingly turning to advanced technologies and strategies. Among the solutions on the horizon, robust identity verification systems are emerging as critical tools in preventing fraudulent activity. These systems employ biometric authentication, device fingerprinting, and AI-driven fraud detection algorithms to distinguish between legitimate customers and bad actors, making it significantly more difficult for fraudsters to exploit ticketing systems.

Real-time monitoring of transaction patterns can also help ticketing companies detect and respond to suspicious activities promptly. By analyzing the flow of ticket sales, sudden surges, or unusually high purchase volumes can trigger alerts, enabling platforms to investigate and take preventive measures.

VR in sporting events

Engaging Millenials With Advanced Technology

As the largest workforce in the US, some millennials now have the means to spend not just on affordable tickets but also on seasonal tickets, VIP seats, festivals, and tours. This means that ticketing and event platforms are working hard to engage millennials; an audience that desires different experiences than past ticketing bases.

In Softjourn's 2023 Survey of Ticketing Professionals, we asked respondents "Which generational base would you like to better serve or engage?". The majority of respondents selected 'Millenials', followed by Generation Z.

Softjourn Survey Results
Results of Softjourn's 2023 Survey of Ticketing Professionals

To engage millennials effectively, events must embrace digital innovations. Leveraging immersive technologies like virtual reality (VR) and augmented reality (AR) creates captivating experiences that align with the tech-savvy nature of millennials. 

Implementing event-specific mobile apps, interactive installations, and personalization options fosters a sense of community, ensuring that millennials not only attend but also actively promote these digitally enhanced events. In this digital age, understanding and adapting to millennials' preferences is essential for event organizers to remain relevant and appealing to this generation.

The shift to engage millennials has also led to a significant shift towards online and mobile booking. This trend was already underway in the last decade but gained further momentum during the Covid-19 pandemic. 

More than half of attendees now purchase tickets online2, and the percentage of attendees booking on their phones has more than doubled. This shift has been driven by the need to minimize in-person contact and adhere to regulations such as contact tracing and capacity management.

dynamic pricing

Balancing High and Low-Demand Events: Dynamic Pricing and Timed-Entry

In today's dynamic ticketing landscape, it's clear that high-demand events continue to attract sizable audiences, while lower-demand events often require additional attention. A multitude of factors, from economic fluctuations and geographical considerations to an expanding array of entertainment alternatives, can significantly influence attendance figures. 

This ongoing shift emphasizes the importance of comprehending the nuanced dynamics of demand within the ticketing industry and underscores the need for tailored strategies that accommodate distinct event categories.

Adapting to these fluctuations in demand, ticketing companies have introduced dynamic pricing and variable pricing as effective tools. Variable pricing entails setting different rates for various dates, days of the week, or even specific times of day (intraday pricing). 

By offering lower prices during off-peak periods and slightly higher prices for peak times, attractions can optimize revenue while simultaneously meeting customer expectations.

Another notable trend in managing demand is the adoption of timed entry systems, which require or incentivize patrons to book tickets in advance and select specific time slots for their visits. This approach not only aids in capacity planning but also ensures a smoother and more efficient visitor experience.

The ability to successfully navigate the dynamics between high-demand and low-demand events is pivotal for event organizers and ticketing platforms in their quest to provide the best possible experience to patrons while maintaining financial viability.

Image of a live event set, highlighting the trend of live streaming in the ticketing industry for 2023

Technologies to Connect In-Person & Virtual Events 

Prior to the pandemic, in-person was the primary type of event, and once lockdowns occurred due to Covid-19, we witnessed a huge shift to virtual events. Now that many countries have relaxed social distancing rules, hybrid events, and live streaming – which combine in-person and virtual components – have become a trend in the ticketing industry. Hybrid events can take various forms, such as live-streamed concerts, virtual trade shows, and hybrid conferences that have both in-person and virtual sessions. 

While hybrid events were initially a useful way for venues and event organizers to adapt to the challenges posed by the pandemic, they continue to be popular even after the pandemic, as they offer attendees more flexibility and convenience.

It does take creativity to make a hybrid event stand out from the rest. To enhance the perceived value of hybrid events in the eyes of the public and thereby increase ticket sales, event organizers have implemented various innovative strategies such as virtual reality experiences, gamification, fan engagement apps, and Web3 technology.

Hybrid events as a whole will continue to dominate the event industry, with unique technologies being the determining factor for ticket-selling success.

Image of a person scanning a NFC tag at an event entrance, representing the trend of digital ticketing in the ticketing industry for 2023

Improved Access Control to Improve Fan Experience

Contactless ticketing, also known as mobile ticketing or NFC ticketing, is an innovative approach to access control that has gained popularity in recent years. It allows patrons to store digital tickets in their electronic wallets, such as Apple Wallet and Google Wallet. 

Terry Wilcher, the Director of the online ticketing system, 123 Tix, said that new developments in access control can help them streamline business processes and event ingress.” 

This way, fans access their tickets through their mobile devices, eliminating the need for paper tickets or QR codes and making the process faster and more convenient for patrons and venue staff. Additionally, by using electronic wallets with digital tickets, fans aren’t required to download a separate application for each venue or platform they buy tickets from. 

In the past, patrons were required to unlock their phones, find the app, navigate to the ticket, and enable the ticket to transfer via NFC. Now, there are new technologies that allow attendees to use their tickets in the same way that they’d use a phone to pay - with just a simple tap to a specialized reader. 

NFC and contactless ticketing can bring value to all parties involved in the event experience, including the following benefits: 

  • Higher security through the use of Google and Apple Wallet data protection algorithms. 
  • Fast recognition by ticket readers.
  • Increased reliability.
  • Faster processing of patrons.
  • More convenience for event-goers.
  • No risk of lost paper tickets

For venues, implementing new NFC technology can be quite difficult, not to mention the upfront costs of buying a new ticket reader from a specialized vendor. However, we do predict that each year we will see broader adoption of contactless ticketing since patron convenience is king.

Jason Chan, the Co-founder of the successful outdoor cinema audio technology startup, Cinewav, expressed his excitement for digital wallets in ticketing. We love the idea of digital wallets to create an ecosystem within the app that allows users to search for exciting events to go to next. He also felt that digital wallets help build loyalty with attendees.

Screenshot of an attendee recommendations feature on a ticketing platform, showcasing the trend of personalization in the ticketing industry for 2023

Utilizing AI Tools and Real-Time Data

Artificial intelligence (AI) can help event organizers understand and optimize the patron journey, including predicting and mitigating no-show trends and improving venue mapping. An AI system can use historical data and trends to predict the attendance of different performances and offers a chat function to allow event organizers to gauge the possibility of a patron's attendance. 

AI can also forecast how patrons may arrive at the venue, which can help adjust queue processing and aid in procurement planning for merchandise, food, and beverages. Additionally, combining AI with technology like geofencing can enhance event advertising, and fan engagement, and provide an opportunity for patron feedback to address potential pain points.

Hrefna Sif Jonsdottir, the Managing Director of the intuitive ticketing platform, Tixly, said: I think it's extremely interesting to see how AI can help our industry in developing our tools to help our clients use their data as best as they possibly can.

AI can be used for ticket pricing by analyzing data sets for concerts, sporting events, and theater tickets, such as face value ticket prices versus resale prices, the speed at which tickets sell, historical attendance statistics, and how well tickets typically sell at a particular venue or in a specific city. 

Event organizers and ticket vendors can use this data to build customer profiles, which can be matched with future events and other offers to create a more personalized experience for customers. 

Many consumers are willing to share their data in order to receive a more personalized experience, and personalization can persuade existing customers to spend more on related goods and services through cross-selling and upselling recommendations.

While historical data remains valuable, real-time data and predictive analytics have become the new standards when it comes to decision-making. The ability to access, store, and implement real-time data is crucial for making timely and informed decisions, especially in rapidly changing situations. This trend emphasizes the growing significance of data-driven strategies in the ticketing industry.

migrate legacy systems to the cloud

Technology Upgrades for Compliance & Better User Experience

Ticketing platforms that use legacy systems based on outdated technology may struggle to meet the current software needs of an organization. These systems can be costly to maintain, have poor performance, and may require the hiring of staff with specialized skills in outdated technology. 

Take for example, when you release tickets for an event with massive demand – will your systems be able to handle load spikes? Through modernizing efforts – such as moving to the cloud – ticketing platforms can feel confident that their systems will be scalable and robust, able to adapt to any amount of demand or user growth. 

Unfortunately, one horrible user experience may cause fans to buy tickets elsewhere. Through strategic upgrades, you can eliminate common ticket-buying frustrations, such as application crashes or slow page load. With a faster, optimized buying experience, you will retain users and even gain new patrons.

"Out-of-date legacy systems can also bring additional security risks, as vendors may no longer provide services such as security patches and updates, and may no longer meet newer regulatory requirements needed for handling payment and user data." Taras Romaniv, Solution Architect at Softjourn.

If you are looking for legacy modernization services to stay competitive in an increasingly digital world, Softjourn can help. Our team of experienced software developers can provide code audit services for your current system, and work with you to find the optimal way to re-architect, rebuild, or replace your outdated technology.

open distribution

The Rise of Open Distribution

We are witnessing the ticketing industry shift towards more open distribution strategies. Traditional secondary markets are evolving, and ticket exchanges are no longer confined to being secondary. Open or multichannel distribution strategies have become beneficial for both buyers and sellers. 

These technologies create a trusted relationship across the entire ecosystem, broadening access to inventory where consumers shop. With more events appearing on multiple exchanges, the industry is adapting to a decentralized ticket-buying experience.

Benefits of Open Distribution Ticketing

While open distribution can bring some challenges, ticketing platforms will also see these advantages:

  1. Increased Inventory Turnover: With the ability to distribute tickets through various channels, ticketing companies can optimize the utilization of ticket inventory. This means tickets are sold more quickly, leading to improved inventory turnover and, in turn, increased revenue.
  2. Data Monetization: Open distribution provides access to a wealth of data from various channels and platforms. Ticketing companies can leverage this data for analytics and insights. They can monetize this information by offering data-driven services and reports to event organizers and promoters.
  3. Partnership Opportunities: Collaboration within the open distribution ecosystem can lead to partnerships with event organizers, venues, and other stakeholders. These partnerships can be lucrative and mutually beneficial, resulting in shared revenue streams and access to a broader customer base.
  4. Flexibility in Pricing: Open distribution strategies enable ticketing companies to have more control over pricing. They can adjust prices dynamically based on market demand, competitor pricing, and other factors, allowing them to maximize their profit margins.
  5. Reduced Fraud and Counterfeiting: By implementing secure ticketing technologies and blockchain-based systems, ticketing companies can reduce the risk of fraudulent ticket sales. This not only protects consumers but also helps ticketing companies maintain their reputation and credibility.

Screenshot of a venue mapping tool highlighting accessibility features for attendees with disabilities, emphasizing the trend of accessibility in the ticketing industry for 2023

A Greater Focus on Accessibility

There has been an increasing focus on accessibility and inclusivity in the ticketing industry, with efforts to make ticketing systems more accessible for people with disabilities and to promote diversity and inclusion in events and venues.

The ticketing industry is predicted to prioritize creating seamless and expedited entry experiences for event attendees. Beyond entry, venues are increasingly focusing on facilitating swift and convenient purchases of food, beverages, and merchandise. While the integration of frictionless technology may not happen immediately, it is expected to gain traction over the long term.

Besides biometrics, other innovative tools have made it easier for ticketing platforms and venues to comply with ADA regulations and make events more accessible for their patrons. Softjourn’s Venue Mapping Tool allows venues to easily add ADA seating and can be implemented to allow for the categorization of ADA seats by section and price.

The app can allow your patrons to make ticket transfers and more easily navigate the venue – for example, to see where accessible bathrooms and facilities are located.

Kayhan Ahmadi, the CEO of the event organizer platform, Ticketbud, mentioned that while some popular trends may be overhyped, they feel that venue mapping is here to stay and a “core ticketing tool that wins business.”

Ultimately, accessibility is not just a trend for 2024, but something everyone in the ticketing industry should focus on and promote to create ticketing solutions that better serve patrons.

Conclusion

As technologies continue to emerge and evolve, the ticketing industry will persistently adapt, seeking fresh approaches to address pricing, audience engagement, and security. This includes mitigating ticket fraud, strengthening accessibility, and elevating both convenience and the overall attendee experience.

We are eager to see how these trends will play out in 2024 and witness what the future holds for the ticket industry.

Did we miss any ticketing trends you are excited about? Please don’t hesitate to let us know - we love to discuss all things ticketing!