Ed Vincent, founder of FestivalPass, clarifies his prior role at MoviePass after host Nathan Latka asked why he moved on from the company.
0:00 / 0:03exact quote · 3.1s
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“I was a contractor brought in to help them with their data,”
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More from Ed Vincent
AssertionPartly supported
ClearBank and Braavo Offer Debt Capital at 6% to 12% Rates
“Some of the ones I mentioned, like a ClearBank or a Bravo or others, do fall in that with credible companies that have proper KPI metrics.”
Ed VincentJun 11, 2020▶ 15:25Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
AssertionNot checkable as stated
Most Live Event Venues Only Know 1 in 10 Audience Members
“Only one in 10 in venues, most venues, they only know one in 10 people in the audience.”
Ed VincentJun 11, 2020▶ 3:49Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
Insight
Credit Subscriptions Enable Marketplaces to Implement Reverse Dynamic Pricing
“From a business perspective, what gets really interesting about this whole credit model, and I'm still shocked that more marketplaces and subscription businesses haven't adopted it, and I give ClassPass a lot of credit for pioneering the way, is what it allows…”
Ed VincentJun 11, 2020▶ 8:09Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
AssertionContradicted
80% of Festival Ticket Inventory Goes Unsold Across the Industry
“However, if you look at the collection of thousands of festivals, 80% of them go unsold.”
Ed VincentJun 11, 2020▶ 9:40Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
Disclosure
FestivalPass Scraped 8,000 Events to Populate Its Platform Database
“We did scrape about 8000 events that we actually have in our database, and we actually produce on our platform.”
Ed VincentJun 11, 2020▶ 21:12Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
Disclosure
FestivalPass Targets a 30% Average Gross Margin Across Live Events
“So our average gross margin across all events, I'm not going to specifically talk about each event itself, is we target a 30% gross margin.”
Ed VincentJun 11, 2020▶ 5:17Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
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