Below is a news summary by Katelyn Long, an Entertainment Management student at Missouri State University.
(from Billboard Magazine, May 12, 2012) The eyes of the live music business have been opened to the power of social as a marketing and promotional tool. Most concert industry executives agree that Twitter and Facebook will continue to grow as a driver of ticket sales and believe that 2012 will be the year for this to implode upon the industry.
With Twitter opening its new advertising platform and Facebook’s recent collaborations with Tickmaster and BandPage, social media will be able to begin perfecting social commerce. Ticketmaster launched the new concert calendar app for Facebook, which allows users to find and share upcoming shows with their friends. All Live Nation music and comedy acts that are in North America will be viewable through the app. Ticketmaster has also been tracking ticket sales from fans “sharing” a purchase from Ticketmaster.com. From this, the organization has seen revenues increase through Facebook by $6-$8 per “share” and around $20 per “share” on Twitter.
The industry has also noticed that social media marketing has been far more successful at selling tickets than traditional email marketing. William Morris Endeavor’s Michele Bernstein believes that email has the potential to be viewed as spam if the receiver isn’t interested; but with social media, the receiver already has a genuine interest and will therefore be more open to the message.
The next big thing in social media brings purchases directly to you. Chirpify, a platform which connects Twitter and PayPal, does away with links that take your fans somewhere else and allows users to sell tickets “in-stream directly to your fans,” says CEO Chris Teso.
Traditional marketing isn’t spiking interest in concerts anymore. Many organizations are beginning to spend less money on traditional media outlets, and are using those resources to bulk up their marketing staff to help develop the personnel that is needed to operate and succeed at social media marketing.
Social media’s impact is felt most when artists communicate directly to their fans through their personal social media pages. For example, when Conan O’Brien tweeted, “Hey, Internet: I’m headed to your town.” within hours most shows in his theatre tour were sold out online. Even artists who have been undecided about using social media are starting to realize its power and importance when it comes to touring.