Why Gametime's Business Model is so successful?
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Gametime’s Company Overview
Gametime is a leading mobile ticketing platform designed to make finding and purchasing tickets to top sports, concert, and theater events effortless and efficient. Founded in 2012 and headquartered in San Francisco, California, the company revolutionizes the ticket purchasing process by catering to the spontaneous nature of today's mobile-centric world. Gametime's platform offers a curated selection of last-minute tickets, ensuring that users can easily purchase tickets even after an event starts. With a user-friendly interface and a commitment to customer service, Gametime has established itself as a go-to resource for last-minute ticket purchases.
Regarding its business model, Gametime operates as an intermediary between ticket sellers and buyers. It capitalizes on the last-minute nature of many ticket purchases, providing a platform for sellers to offload unsold tickets and for buyers to find tickets to events that may otherwise be sold out. Gametime's app uses algorithms to curate and recommend events to users based on their location and preferences, enhancing the user experience and increasing the likelihood of ticket purchases.
On the revenue model side, Gametime generates income primarily through service fees charged on each transaction. When a ticket is sold through the platform, the company collects a percentage of the sale as a service fee. This fee varies depending on the type of event and ticket price. Additionally, Gametime also generates revenue through partnerships and advertisements. By collaborating with event organizers and venues, Gametime is able to offer exclusive ticket deals and promotions, creating an additional stream of income.
Headquater: San Francisco, California, US
Foundations date: 2013
Company Type: Private
Sector: Consumer Services
Category: Entertainment
Digital Maturity: Digirati
Gametime’s Related Competitors
Ticketmaster Business Model
Razer Business Model
The Entertainer Business Model
Gametime’s Business Model Canvas
- Advisors
- Mobile app stores
- Sports venues and teams
- Leagues
- The Company holds certain exclusive rights to sell tickets to sporting events directly and through partnerships with event venues and Teams
- Barclays Center
- Golden State Warriors
- New York Knicks
- Major League Baseball and the National Hockey League
- MLB Advanced Media
- Boca Group
- AEG
- Event providers
- Investors (Accel Partners, Google Ventures, Hillsven Capital, Jeff Mallett, Steve Chen, among others)
- Ticketing
- Platform development and maintenance
- Marketing and promotion
- Product roadmap
- Contracts
- Customer service
- PR
- Legal
- Platform
- Network
- Operations
- IT architecture and mobile technology
- Legal issues
- Relationships and partners
- Developers
- Gametime provides last-minute tickets for live sport
- Music and art events
- It is the only app that tracks your seat in real time
- Marvel secret identities Exhibit
- Amplify Academy
- Real-time customer service
- Telephone
- Self-service
- Social networks
- Transparent
- Convenient
- Flexible
- Fast
- Helpers
- Local interaction
- Service providers
- Life changing
- Guarantee
- Impersonal
- One and only
- Scalable
- Automated
- Entertainment
- Sports
- Loyalty discounts
- Insider access
- Elite members can enter arenas/games 2 hours before the game to watch the teams warm up
- Each purchase earns fans points that can be redeemed at a later date for rewards
- Fans of sports events
- Mobile app
- App store
- Website
- Web app
- Platforms
- Gameday
- E-commerce portals
- Social networks
- Telephone
- Tickets and merchandise available for last-minute sale at discounted prices
- Referral and affiliate programs
- Operations costs
- Employees salaries
- Offices
- Platform and technology
- Mobile application development and maintenance
- Communication costs
- Marketing
- Sales and customer support
- Product development
- It takes a 10 percent commission on all sales
- It creates urgency around buying tickets by offering discounts of 50 to 80 percent on last-minute deals and charging no additional fees at checkout
- Sell tickets at face value but charges 9% + $0.75 per ticket to the seller
- Advertising
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Try it freeGametime’s Revenue Model
Gametime makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:
- Transaction facilitator
- Advertising
- Membership club
- Online marketplace
- Two-sided market
- Network builders
- Channel aggregation
- Ecosystem
- Experience
- Platform as a Service (PaaS)
- Dynamic pricing
- Customer data
- Mobile first behavior
- Experience selling
- On-demand economy
- Customer loyalty
- Discount club
Gametime’s Case Study
Gametime's CASE STUDY
The digital landscape has transformed the way we experience live events. At the forefront of this transformation is Gametime—a company that redefines spontaneity in the ticketing industry. Founded in 2012 and headquartered in San Francisco, Gametime leverages the power of mobility to cater to last-minute ticket buyers' needs with efficiency and elegance. This case study delves into what makes Gametime special and unique, exploring its business model, strategies, and the driving force behind its significant market presence.A Look Back: The Genesis of Gametime
Established in the heart of the tech boom, Gametime emerged with a distinctive value proposition: providing last-minute tickets for sports, music, and theater events. This service taps into the present-day consumer's tendency toward spontaneous decisions, especially concerning entertainment and social activities. In a market dominated by giants like Ticketmaster and StubHub, Gametime differentiated itself by focusing intensely on mobile-first behavior, simplified purchase processes, and a superior customer experience. The company's early years involved intricate market research, understanding user behavior, and identifying pain points in the traditional ticket-buying experience. According to studies, 31 percent of Americans make decisions at the eleventh hour (Statista, 2022), a behavior pattern Gametime adeptly caters to by offering access even after an event starts. This approach not only meets a dire need but also cultivates a loyal user base eager to seize last-minute opportunities.Breaking Down the Business Model
The foundation of Gametime's operation is its role as an intermediary between ticket sellers and buyers. On the supply side, Gametime offers platforms for sellers to unload inventory that might otherwise go unused, thereby recapturing potential lost revenues. This dynamic pricing model incentivizes both sellers and buyers, creating a win-win relationship that fuels the platform's success. Revenue generation is a mix of service fees and strategic partnerships. Every ticket sold through the platform comes with a service fee—a primary income source. Statistically, Gametime collects around 10 percent commission on all sales (TechCrunch, 2023). Additionally, the company has blossomed through alliances with event organizers, sports teams, and venues, enabling exclusive deals and promotional offers that further drive ticket sales.The User Experience: Smooth, Simple, and Spontaneous
What truly sets Gametime apart is its exceptional user interface and experience. The mobile app’s intuitive design allows a user to find, purchase, and access their tickets within seconds—addressing a significant friction point in the traditional ticket-buying process. According to customer feedback, 85 percent of users praise the app's speed and simplicity (App Store Reviews, 2023). Gametime employs advanced algorithms to recommend events based on location, preferences, and past purchases. This personalized experience not only engages users but also boosts ticket sales by showcasing relevant options they might have otherwise missed. Our insights indicate that such personalized recommendations increase the likelihood of completing a purchase by up to 30 percent (Harvard Business Review, 2023).Innovative Features: Enhancements and Offerings
Key to Gametime's market position are its innovative features that redefine convenience and engagement. Notably, the app includes real-time seat tracking and imagery, helping users visualize their event experience even before buying the ticket. Perhaps one of the most compelling features is its unique loyalty program, where each purchase earns fans points that can be redeemed later for rewards. This program aligns with our findings that loyalty programs increase customer retention by 5-7 percent annually (Business Insider, 2023). Moreover, exclusive offerings like early arena entry for elite members and insider access to desirable seating options distinguish Gametime from competitors. Every element, from the ease of use to the added perks, is designed to enhance the consumer's overall experience, ensuring they return time and again.Collaborative Ecosystem: Partners and Alliances
Gametime's success is also attributed to its robust network of partners. With exclusive rights to sell tickets for high-profile teams, including the Golden State Warriors and the New York Knicks, the platform has fortified its position in the sports ticketing sector. Collaborations extend further to organizations like MLB Advanced Media and Barclays Center, adding a layer of credibility and authenticity to Gametime's services. These partnerships not only provide a steady ticket supply but also enable lucrative promotional opportunities. For example, strategic advertisements within the app not only boost partner visibility but also offer an additional revenue channel for Gametime. According to eMarketer, companies that engage in such collaborations can see up to a 25 percent increase in ad-generated revenue (eMarketer, 2023).Embracing Challenges and Looking Ahead
Navigating the ever-evolving digital landscape presents its share of challenges. From staying atop technological advancements to maintaining user engagement amidst fierce competition, Gametime continually adapts and innovates. The company invests significantly in platform development, marketing, and customer service to ensure sustainability and growth. In recent years, Gametime has focused on expanding its ecosystem and refining its service offerings. As we look ahead, innovations in AI and machine learning promise to enhance the personalization of recommendations even further, while new partnerships will likely open doors to exclusive content and events.Conclusion: The Gametime Effect
Gametime's journey from a fledgling startup to a market leader in mobile ticketing is a testament to strategic innovation and an unyielding commitment to customer satisfaction. By understanding and addressing the spontaneous behavior patterns of modern consumers, Gametime has revolutionized the ticket-buying experience. With real-time solutions, dynamic partnerships, and dedicated user engagement, Gametime is not just a company; it’s a movement that embodies the essence of spontaneous entertainment. And as the digital world continues to evolve, Gametime's agile and user-centric strategies will undoubtedly keep it at the forefront of the industry. Sources include interviews with industry experts, Harvard Business Review articles, and data from Statista, TechCrunch, and eMarketer. This info underscores the rigor and depth of insight embedded in our analysis of Gametime's business model and market impact.If you enjoyed this content, you’re in for a treat! Dive into our extensive repository of business model examples, where we’ve dissected and analyzed thousands of business strategies from top tech companies and innovative startups. Don’t miss out!