The Biggest Myth About Live Streaming Your Event
You’ve spent months planning this event. So many sleepless nights worrying about making sure all your I’s are dotted and all are you T’s are crossed. You’ve got backups covered. Backups to the backups? You bet. Next on the list: Ticket sales.
Ticket sales are what drive your event. Afterall, if you’re not selling tickets, all that money and time you just spent making sure every last detail to your event is covered would’ve been for not. That leads us to the biggest marketing myth when it comes to Live Streaming your event. Live Streaming does not take away from your ticket sales.
Many event planners and promoters share this common misconception: If I Live Stream my event, I won’t sell as many tickets. We can unequivocally say this is not true. Let’s look at some real life examples.
Superbowl LI was broadcast to well over 100 million viewers last year on a major television network (for free). Yet year after year, tickets to the actual game continue to sell out. Not only do they sell out, but they continue to raise ticket prices. The first year Coachella decided to live stream the festival (for free) the event sold out in 3 days. Surely, next year’s ticket sales went down because so many people were able to see the event. Nope. The event sold out even quicker. The festival sold out in 3 hours versus the previous year’s, 3 days. They also continue to raise their prices and even convinced the city of Indio to increase the capacity to 125,000.
“Yeah, but my event isn’t as big as Coachella!”
Case studies have shown that by Live Streaming your event, the average ticket sales for next year’s event increase by 30%. It’s the try-before-you-buy mentality. Your customers that are on the fence about going, are easily swayed once they see what going to the event is like. Sure, we all know the Foo Fighters will put on a great show, night after night. But those fence sitters want to know what your venue is like: What’s the lighting like? Is there enough room for me to flail around in the mosh pit? Can I crowd surf? Your customers that are unsure about attending your event will easily be swayed once they discover these things for themselves.
Not worried about selling tickets because the demand is already there? Live streams can easily be turned into Pay-per-view events to generate additional revenue. The recent Mayweather vs. McGreggor fight garnered over $55 million in ticket sales at T-Mobile arena. Pay-per-view? More than 8x that, bringing over $400 million.
If you want to sell more tickets, and bring in more revenue, Live stream your events. The proof is in the pudding. What are you waiting for?