Disclosure certainty 4/5 debate potential 1/5

Vincent: FestivalPass media partners control tens of millions of emails

Ed Vincent · Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events · Jun 11, 2020 · at 10:51

Ed Vincent, founder of live event subscription marketplace FestivalPass, explains the startup's early marketing channels and customer acquisition strategy to Nathan Latka.

0:00 / 0:08exact quote · 8.4s
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“So we have some media partners that have tens of millions of emails that they're going to use on our behalf as we go into 2020 to engage on a local level to drive people.”

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More from Ed Vincent

Assertion Partly 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 Vincent Jun 11, 2020 ▶ 15:25 Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
Assertion Not 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 Vincent Jun 11, 2020 ▶ 3:49 Festival 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 Vincent Jun 11, 2020 ▶ 8:09 Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
Assertion Contradicted
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 Vincent Jun 11, 2020 ▶ 9:40 Festival 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 Vincent Jun 11, 2020 ▶ 21:12 Festival 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 Vincent Jun 11, 2020 ▶ 5:17 Festival Version of ClassPass Targeting $500k Seed, 1000's of Consumers, 100's of Events
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