[RESEARCH PART1] Online Booking Platform for Entertainers Business Model

Our CEO research for creating Online booking platform for entertainers

In the old days, musicians hired agents and managers to do all that stuff for them. Many probably still do, but the internet and other technologies have made everything so DIY that it’s important to have all those other skill sets as well.

And with profit margins becoming so tight in the business, the only ones who are going to be successful in the future are those who do it all themselves. You need to write, perform, record, produce, and market it all yourself.

I identified one successful company, that is Gigmasters.com, one startup active in same market, that is Gigsalad.com.

1 successful company: GIGMASTERS

Gigmasters inc is an online event booking service founded in 1997 by New York area entrepreneurs Michael Caldwell and Kevin Kinyon. They build the online booking platform for hire top-rated local musicians, DJs, bands, photographers and speakers for your special event. Kids parties, wedding, bar mitzvahs, trade shows and more. The target customers is people who want to create event such as kids parties, wedding, bar mitzvahs, trade shows, and more. The revenue model of Gigmasters come from membership package & success booking comissions (payment-admin cut). Their secret sauce come from:

1. Top Search Rankings

They know SEO – that’s search engine optimization for the uninitiated. Google your city and category to see for yourself. The bottom line is that we get the most exposure for our members. More exposure means more leads and more gigs.

2. Top Customer Support

GigMasters’ not-so-secret weapon: our full-time staff of Customer Experts. They know what it takes to get booked and they’re available seven days a week for you and your clients. And we don’t hide our phone number – it’s right on top of every page of our website.

3. Top Booking Service
Plain and simple, GigMasters is the web’s only true end-to-end booking service. We don’t just send you leads, we get you booked. In fact, we’re pro-actively reaching out to clients to help get you booked. From price quotes to contracts, online payments and so much more, they’re constantly improving our features with the goal of making it easy for you to manage your business so you can focus on your talent.

4. Performance-Based Search Results

On other sites ‘featured vendors’ can buy their way to the top of search results but we believe in a level playing field. Want more exposure on GigMasters? Earn it by booking with us!

5. FREE Profile Assistance

Need help uploading audio or video? Questions about which categories are best for you? No problem and, unlike some of our competitors, there’s no charge.

6. No Phony Reviews

Some sites let literally anyone leave public reviews for their entertainers and vendors – but what good does that do? Would you want a competitor building themselves up with fake reviews? Or worse, using them to ruin your career? At GigMasters you can rest assured that the only ones writing your reviews are your actual clients.

Gigmasters funded $1.3M in Feb 2014 from undisclosed investor. Gigmasters estimated revenue nowadays is $47M.They’ve booked 170,000 gigs, earned over $102 million in revenue for our members and they generated the most site traffic on a daily basis than other competitor, over 30,000 daily visitors! Gigmasters Inc will be more success if they can make greater next milestones such as make their platform become marketplace for entertainers stuff. So entertainers who had registered can sell their products online and Gigmasters can craft commision model for each stuffs sold. Gigmasters can fail if they don’t innovate their website because it’s website the design seems outdated. Gigmasters should beware of their active competitors like Gigsalad. Because afterall if they same services and same technology, they should war in brands, which product who customers have more trust in.

Source:

https://www.crunchbase.com/funding-round/cc5bfdafe835a8170742bf34cd3c417d

https://www.owler.com/iaApp/253940/gigmasters-company-profile

https://itg.gigmasters.com/3-reasons-gigmasters-is-1

1 active company: GIGSALAD

GigSalad is the largest, most diverse marketplace for booking bands, performers, speakers and services for events, parties, and gatherings of all types and sizes. Founded in 2007 by Mark Steiner and Steve Tetrault. Number of employees are 30. Monthly website visit is around 696,086. With millions of users across the U.S. and Canada, GigSalad.com provides an easy and secure way for event planners to book entertainment and services. Their target customers are musical acts, entertainers, speakers and other services, also absolutely the service seekers. The revenue model from Gigsalad come from membership package & success booking commisions (payment-admin cut).

GigSalad estimated revenue nowadays is $ 4.4M. Over 80,000 bands, entertainers and event service for hire. Gigsalad on social media has 6000 twitter followers, and 22.218 facebook page likes. Gigsalad have the better user interface than gigmasters. But the users in Gigsalad less than Gigmasters. Gigsalad has 1/10 user than Gigmasters. Gigmasters usually get artist about 20-30 gigs in a year. If Gigsalad maybe 1-2 gigs. Same with Gigmasters, they can succeed huge if they can make new features such as registered users can sell their stuffs. They can fail if they can’t compete with Gigmasters which has the same market.

Source:

http://www.harmonycentral.com/forum/forum/LivePerformanceCategory/acapella-54/31120883-gig-masters-or-gig-salad

https://www.crunchbase.com/organization/gig-salad#/entity

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