Project Admission Company Profile

Background

Project Admission is a technology company specializing in ticketing solutions for the live event industry. Founded in 2018 and headquartered in Nashville, Tennessee, the company aims to enhance the ticketing experience by simplifying the buying, transferring, and reselling of tickets. By integrating directly with existing ticketing systems, Project Admission enables professional sports teams, leagues, artists, theaters, and venues to reach new audiences, capture additional revenue, and collect actionable data, all while providing a seamless experience for fans.

Key Strategic Focus

Project Admission's strategic focus centers on expanding ticket distribution channels and enhancing fan engagement through innovative technologies. The company's core objectives include:

Branded Storefronts: Creating fully customized sales channels for rights holders, venues, and brands to reach new audiences.

Inventory Control: Offering an inventory management system that caters to complex box office needs, allowing simultaneous availability and configuration across multiple sales channels.

Fan Engagement Tools: Providing tools to incentivize fanbases, engage influencers and street teams, and facilitate group sales.

Bulk Distribution: Enabling efficient transfer of large volumes of tickets, saving valuable employee hours and simplifying management for clients, partners, and sponsors.

Split Season Tickets: Automating the ingestion and distribution of tickets, providing sales representatives with valuable tools, and simplifying processes for corporate ticket partners.

Financials and Funding

Since its inception, Project Admission has secured a total of $12.7 million in funding over multiple rounds. Notable funding milestones include:

Early Stage VC (November 2018): Raised $475,000.

Seed Round (November 2021): Amount undisclosed.

Later Stage VC (June 2023): Raised $3.2 million.

Prominent investors include Anthemis Group, Scrum Ventures, and Flyover Capital. The capital raised is intended for product development, market expansion, and enhancing technological capabilities.

Technological Platform and Innovation

Project Admission distinguishes itself through its proprietary technological platforms and innovative solutions:

Direct Integration: Seamlessly integrates with existing ticketing systems, allowing partners to reach new audiences and capture downstream revenue.

Awesimo: A platform that bridges traditional ticketing and live event markets to Web3, unlocking additional opportunities for fan engagement through digital twins of live event tickets, connected experiences, community engagement, and actual utility such as membership access and exclusive content.

Leadership Team

Stephen Glicken: Co-Founder, President, Chief Executive Officer, Treasurer, and Board Member. Brings extensive experience in the music and technology industries.

Tom Giles: Co-Founder, Chief Strategy Officer, and Chief Product Officer. Focuses on strategic direction and product development.

JD Hartley: Chief Technology Officer. Leads the technological development and innovation efforts.

Derek Palmer: Chief Revenue Officer. Oversees revenue generation and business development strategies.

Competitor Profile

Market Insights and Dynamics

The ticketing industry is experiencing significant growth, driven by increasing demand for live events and advancements in digital technologies. The market is characterized by a shift towards digital ticketing solutions, enhanced fan engagement strategies, and the integration of blockchain technologies to ensure security and authenticity.

Competitor Analysis

Key competitors in the ticketing technology space include:

TicketWeb: Provides self-service ticketing, marketing, and management solutions for venues and event promoters.

Automatiq (Broker Genius): Develops ticket pricing and distribution platforms.

ShowClix: Offers full-service event ticketing and access control solutions to professional event organizers.

Tito: Provides design-led software for simple management of ticket sales for events.

Strategic Collaborations and Partnerships

Project Admission has established significant partnerships to strengthen its market position:

SeatGeek and Tickets.com Integration: By integrating with these popular marketplaces, Project Admission has expanded its reach to professional franchises, college teams, and venues.

Weldon, Williams & Lick, Inc. Partnership: Collaborated to offer digital commemorative tickets to new and existing clients, enhancing the fan experience and creating additional revenue streams.

Operational Insights

Project Admission's direct integration with existing ticketing systems and focus on fan engagement tools provide distinct competitive advantages. The company's ability to offer customized solutions, such as branded storefronts and bulk distribution tools, positions it favorably against competitors. Additionally, the development of Awesimo demonstrates a forward-thinking approach to leveraging emerging technologies like Web3 to enhance the ticketing experience.

Strategic Opportunities and Future Directions

Looking ahead, Project Admission is poised to capitalize on several strategic opportunities:

Expansion of Awesimo: Further development and promotion of the Awesimo platform to bridge traditional ticketing with Web3 technologies, offering unique fan engagement experiences.

Enhanced Data Analytics: Leveraging data collected through ticketing transactions to provide actionable insights for clients, improving marketing strategies and revenue generation.

Global Market Penetration: Exploring opportunities to expand services into international markets, tapping into the growing global demand for live events and digital ticketing solutions.