This is part 1 of a 3-part series on disruption in the entertainment booking industry.
If you follow tech-type news, you’ve probably heard the term disruption, as it applies to business. Disruption is what happens when a well entrenched industry, with its processes, providers, suppliers, and customers, is introduced to a new way of transacting by way of a new product/service/company.
Think about Uber and Lyft, they are considered disruptors. They took a long standing problem –hiring transport to get from point A to point B–, and disrupted the traditional taxi industry that serves it with a new model of transacting.
Why was the taxi industry ripe for disruption? The ways of its industry were outdated/unaligned with the contemporary preferences of riders needing transport. Preferences like instant ordering using technology (no phone calls/waiting for a dispatcher)
, better reliability (increased supply of drivers when you need them), and payment methods using a payment on file system, instead of having to pay with cash or card on each individual ride.
Fast forward to the year 2020. In talking with friends that play in a few bands in the area, I discovered that the process for them to get booked is also ripe for disruption. It’s largely a manual process today involving legacy technology, i.e. the email-and-wait approach, where bands send emails to venues potentially looking for acts to book.
The booking process I have described is ripe for disruption. A perfect disruptive scenario is a platform that is built exclusively for independent venues and performers, that removes traditional communicative technology barriers (email threads) and removes social media noise, to enable both sides to book faster and smarter. All the information they need to create bookings is in one platform and both venues and bands can create a booking from start to finish with complete transparency.
In part 2 of the 3-part series, I share some of the challenges that venues have with entertainment bookings and how a marketplace platform will create transparency, alleviate some of their challenges, and make their lives easier.