Tech Uncategorized

Tixers teaming up with Xavier basketball to provide added value to season ticket holders

The secondary ticket market is always changing, and new start ups may help create a different type of marketplace.

Credit: Frank Victores-USA TODAY Sports
Credit: Frank Victores-USA TODAY Sports

A season ticket holder is a valuable asset to a sports franchise. A customer who purchases a season ticket package identifies themselves as a diehard fan providing significant direct and indirect revenue. Season ticket holders are often the best brand ambassadors for the franchise, since their passion often leads to the indoctrination of family members into the lore of that team. Within this relationship of franchise to fan, season ticket holders may not be maximizing their return on investment due to the potential sunk cost associated with a season package of tickets. In the NBA, and NHL (41 home games) and MLB (81 home games),  it becomes difficult for fans to attend every single game. Missing these games may be slightly disheartening to teams, but the tickets are already sold,  but the season ticket holder has to go through the tedious process of somehow recouping the investment they made into that franchise.

Tixers is a Covington, Cincinnati start-up working to solve the problem of garnering value from unused tickets conveniently. Tixers acts as a third-party to sell unused or unwanted tickets in exchange for credit on their site. The amount of credit is based on the demand for that particular game and the location of that specific ticket. That credit can then be used to purchase tickets for tickets to future events Tixers has either purchased or obtained from other users trading in their tickets. According to Tixers founder Alex Burkhart, it will not just be sports tickets which will be available in his ticket exchange ecosystem, “Maybe you want to go to the zoo, or maybe you want to go to the museum or the Aronoff Center. Anywhere that takes a ticket.” Burkhart’s idea has gained attention in the tech startup space and has been able to gain a number of investments over the past year, his most recent efforts closing a $250,000 seed-fund round led by Kentucky accelerator Uptech.

Tixers next move has been to partner with NCAA Men’s Basketball powerhouse Xavier. Leveraging the success, and the fanaticism of Xavier fans, Tixers is able increase its market presence and demonstrate the viability of their product.  Xavier, which has played their home games at 98 percent capacity over the last 14 seasons, will be able to gain an added layer of customer understanding and analysis. Working with Tixers will give Xavier the ability to accurately assess the demand of games as the season progresses. Additional data will be available to them about attendance, after market value, and is an added benefit to fans and customers who have mitigated their risk and protected their investment. Tixers will have to compete with other third-party ticket selling companies such as Stubhub.com and Tickets.com, but as they expand, the option of gaining a semblance of control over the future value of ticket investments is a clear advantage for fans and teams alike.

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