Wow – Fred Destin reports here that Seatwave has already done 500,000 ticket trades on their site, spanning 40 countries. Given their 25% gross margin on the price, this will add up to a chunk of change.
Obviously there are costs associated with providing their insurance guarantee re genuine tickets, not to mention reputational risk. But what a success story.
Oddly, this success could play out two ways in the current campaign by promoters and ticketing companies to ban secondary trading of tickets. The increased profile/activity of such services will increase the vigour with which they are pursued by promoters etc as these numbers are hard to ignore. Conversely Governments may be even more unwilling to intercede in something that evidently is proving popular with the public.