festivalPass

CEO Ed Vincent, an EO Austin Member, has been an entrepreneur for over 20 years with multiple exits including an eCommerce company sold in 2001 and a SaaS company sold in 2014.  Most recently he founded and ran a data consultancy and software platform in the entertainment space with clients including A&E Networks, AMC Networks, MovieTickets.com, Screenvision Media, MoviePass and numerous TV, Film and Media related clients.  The festivalPass team are experts in consumer data.  Ed also ran a 70 person experiential marketing agency from 2002 through 2008 activating big brands at big events.  He developed the concept of Maxim Bungalows hotel in the Dominican Republic and even owned the Dominican Republic International Film Festival.  This is where he fell in love with the community and passion created within a live event setting.  

After acting as the interim Chief Data Officer or MoviePass and tracking the success and business models of various subscription services and marketplaces, Ed felt the time was right to make live destination experiences more affordable, more social, have less friction and without the high ticketing fees prevalent in the industry.   We make that possible by partnering with event owners across all genres (music, film, food & wine, sports, theater, and more) making their offerings available to our members and providing data insights that help drive the partners business across all revenue streams including sponsorship, advertising spend, and ticketing. 

festivalPass makes it possible for members to enjoy thousands of festivals locally and globally — for one monthly fee.

festivalPass is the world's first festival subscription service across music, film, food & wine and more.  Now, festival-goers from music, art, food & wine, film, and other interests can join millions of fans from around the world. 

Credit Based Currency Business Model - Gross Margin Positive Every Transaction

Traction - $1.2 million of media to spend on Member Acquisition from 3rd largest radio network in US

festivalPass has $1.2MM of media to spend across social, digital, and radio on over 321 radio stations and websites as well as dozens of genre specific websites reaching a total of 80 million people monthly. 

Unique Data Architecture poised to be the most robust data set across live entertainment industry.

festivalPass has a unique data strategy that includes aggregating consumer data within the platform, from partner websites and mobile apps and other sources enriched from a data graph of over 250 million US consumers.  We will enable the demographic and behavioral data to be used for in app personalization/discovery, partner insights for our venue/event owners and to execute highly targeted programatic media buys across publisher partners.

How we make money

We offer six different plans ( see below).  We partner with event owners and ticket aggregators to acquire inventory at a discount that our members redeem their credits for.  We keep part of the discount margin for festivalPass and our members receive some of that discount to attend events for less money as a benefit of membership.

Milestones

Fall 2019 - 

Secured initial seed funds from high profile entrepreneurs and professional hockey player for NY Rangers.

Went live with robust web app with an integrated credit based currency and unique data architecture.

Secure 20MM CRM records to enhance understanding of data and outbound email prospecting.

Spring 2020 - Secured $1.2 million of social, digital and on air media from 3rd largest radio network in the US.

Been interviewed by over 20 podcasts and have professional athletes and music artists as stakeholders in company.

Launched our own Podcast called festivalPass Stories 

Fall 2020 - 

Over 21% of unique visitors that come to festivalPass.com sign up for an account.

Over 13,000 members with 300+ joining every day.

Partnership with National Independent Venue Association (NIVA) with 3,000+ venues members that will have access to festivalPass to provide inventory to thousands of shows across the US.

Use of funds

festivalPass will use the funds from this raise to continue development of it software platform across web and mobile, secure and activate partnerships with venue and festival owners increasing ticket inventory, integrate a programatic advertising ecosystem for inventory partners to use festivalPass data to reach their targeted audience.  Since festivalPass already has over $1 million in media spend at its disposal through previous investor, the funds will go directly into operating and growing the business the business (software development, data infrastructure, partner acquisition and management). 

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