By Luke Trickett, Founding father of Backpocket
The Australian pageant trade has been struggling to make ends meet, leading to a rising listing of cancelled big-name occasions like Splendour within the Grass and Groovin The Moo. The difficulty isn’t the music or curiosity from ticket patrons, however somewhat a basic misunderstanding of what festival-goers need, and what their buyer expectations are.
Whereas the price of rising overheads will be seen throughout the board, it’s the mainstream festivals that appear to wrestle essentially the most as area of interest festivals like SouledOut and Bluesfest are nonetheless sturdy performers on the ticket workplace. 80% of younger Australians have mentioned they’re keen to attend stay music occasions at the very least yearly, so the place’s the disconnect that’s stopping mainstream festivals from feeling the identical success as their blues group counterparts?
Whereas there are lots of elements at play, we have to have a look at the viewers; they’re a part of the answer. Understanding the viewers will assist us see precisely the place we should merge creativity and expertise to get Australia’s pageant scene again on observe for 2025.
Understanding our viewers
Festivals appeal to all kinds of Aussies, however the struggling mainstream class works with larger numbers and a youthful demographic. This cohort is amongst these most impacted by the price of residing disaster and its ensuing inflated ticket costs. Already, 73% of event-goers really feel tickets are dearer than final yr, with ‘worth for cash’ arising as an impediment for one in 5 potential attendees.
We have to think about the way to join with this viewers and overcome the boundaries stopping them from buying tickets. Simply as FOMO sees us leaping on the newest iPhone or AI gadget, desirous to be a part of a significant cultural second drives pageant goers. In reality, almost half of Aussies lately cited ‘concern of lacking out’ because the core motive for buying pageant tickets final yr.
Once we marry these two viewers ideas, it’s clear that all of them need the identical issues — to make recollections collectively with out breaking the financial institution. That is the place tech steps in to take away the present boundaries to entry and assist get the ticket sales space again on observe.
Taking down boundaries with tech
Aussies might need to go to festivals with buddies, nevertheless, at the moment’s financial atmosphere means monetary duty comes first. Take the clunky ticket buying journey for festivals for instance. Whereas it’s straightforward for one individual to pay for their very own ticket, as a rule tickets are bought collectively. This makes it a really costly checkout course of for the one pal left to shoulder the fee. With 4.9 million folks experiencing a pal failing to pay them again within the final yr, this course of can really feel excessive danger and off-putting for a lot of.
Up to now, Aussie innovators have relied on various BNPL choices as an answer to such monetary obstacles, nevertheless, this doesn’t take in the monetary duty. BNPL is a simple integration on the checkout and has been undeniably well-liked, however tides could also be turning. Aussies are starting to really feel the detrimental influence of what can typically be thought-about a predatory providing. Previously 4 years, BNPL late charges have jumped from 5% to twenty%. That is significantly problematic contemplating the heavy use of BNPL providers with younger, financially struggling Australians.
Tech innovators must look past band-aiding the issue. Contemplate Backpocket’s resolution for instance, in a world of BNPLs, it’s the solely cost technique on the planet to supply break up group funds on the level of sale with no further charges.
Progressive tech and pageant ticket buying might not leap out because the almost definitely of hyperlinks, however may an answer to lots of Australia’s pageant woes be so simple as a brand new cost integration? The pageant trade isn’t failing, however is unable to outrun the monetary onus of a price of residing disaster except we intervene with some actually out-of-the-box pondering. By stepping again and contemplating what is really wanted to assist Australians via checkout, we cannot solely change the face of the funds panorama, but additionally Australia’s as soon as flourishing arts scene.
