New York-based ticket marketplaces TicketIQ and TickPick have joined forces to collaborate on technology and distribution.
As part of the partnership, TickPick will power TicketIQ’s ticket listing infrastructure, while both platforms will feed material into FanIQ, TicketIQ’s newly formed data-driven marketing platform.
The move will allow TicketIQ to turn its focus more on its data business, which supports its partners to sell tickets, and in college sports, boost fundraising efforts. FanIQ, which was launched in October, is the newest edition of its data marketing efforts and builds on the company’s existing data analysis capabilities, allows for the creation of unified customer profiles with robust social media insights, and is designed to aid live event operators, teams, and properties reach new fans.
Paul Jones, TickPick’s vice president of business development, said in an email, according to Sportico: “We’re really excited about the unique FanIQ partner supply that they plan to bring to TickPick and the opportunity to expand our platform’s reach and drive incremental revenue from both TicketIQ and FanIQ.”
While financial terms of the deal have not been disclosed, it has been made clear that the agreement is principally based around revenue sharing centred around ticket distribution.
TicketIQ founder Jesse Lawrence said: “TickPick’s commitment to a no-fee platform, combined with their large base of loyal shoppers, makes them the ideal partner for both TicketIQ and FanIQ.”
In addition, TicketIQ’s marketplace could see added inventory moving forward as TickPick is one of the companies that integrates with SeatGeek Open, a primary ticket network that currently works with 12 pro teams, including the Dallas Cowboys, Cleveland Cavaliers and Portland Timbers.
TickPick, which was founded in 2011 as a no-fee marketplace, reportedly sold $250m in tickets in 2019. Last year, the firm also raised $40m from PWP Growth Equity to help accelerate its marketing and business development initiatives and establish a data team.