The Live Nation owned company’s “LiveAnalytics” platform will help it to offer clients strategic insights about which festivals to sponsor, inform ticket giveaways or the artists most suitable to their audiences, for example.
Ticketmaster will not sell individual data on to third parties, but will detail information on fan preferences, ticketing trends, industry benchmarks and other customised data in order to music and entertainment related marketing campaigns to be optimised.
LiveAnalytics launched in the US in 2011, primarily for the company’s ticketing clients, but has since been customised for international markets, including the UK. It utilises Experian “Mosaic” demographic data tool – as well as six other variables – such as social media usage and household income – coupled with Ticketmaster UK’s database of 11 million customers.
Sophie Crosby, Ticketmaster International vice president of insight told Marketing Week: “Music sponsors like Barclaycard, Pepsi and Red Bull are really interested in looking at what their audiences look like. We’re really interested in working with brands to help them make the right types of events expenditure and adjust their offline spend accordingly based on our data.”
Ticketmaster and Live Nation are also using the LiveAnalytics tool to inform their own marketing strategies. The companies are currently testing affinity algorithms and propensity scores in the UK and will soon replace its current marketing broadcast platform with new tools – such as bespoke versions of Exact Target and Business Objects software – to allow greater flexibility around content.
About 30 to 40 per cent of live tickets go unsold, but Crosby says in beta testing of its new algorithms, Live Nation saw a 5 per cent uplift in conversion of its marketing communications.