The global event tickets market will approach US$100 billion by 2030, up from an estimated US$85.07 billion in 2024, but remains in dire need of disruptors to dethrone high-fee market leaders such as StubHub (9%), EventBrite (8%), Seat Geek (3%) and Live Nation Entertainment, owner of Ticketmaster, whose 20% share (more than 70% in the U.S.) has led to claims of anti-competitive practices such as exorbitant resale ticket prices and preferential treatment towards venues and artists.
This dynamic opens the door for companies to step in and differentiate themselves in terms of convenience, streamlined design, value-added features and ultimately higher conversion and revenue generation at a more competitive price.
Investors keen to capitalize on new event ticket players innovating their way into the market should look at Fobi AI (TSXV:FOBI), market capitalization C$16.62 million, which uses artificial intelligence (AI) to collect data and derive insights that keep clients on the cutting edge of customer engagement, personalization and brand activations.
World-class technology for world-class partners
Fobi’s mobile wallet technology, Wallet Pass, has been deployed more than 100 million times across numerous use cases, including identification and credentials, targeted marketing, coupons, tickets and loyalty and membership cards, with each new client improving the predictive capabilities of the company’s AI analytics platform, the Fobi Data Exchange, where data is segmented by preferences, location and demographics in real time to ensure continual insight optimization.
The value-add behind Fobi’s technology has garnered partnerships with some of the largest global brands – including Amazon, The Oscars, Asahi and the World Boxing Council, among many others – establishing the company as a trusted guide into the world of data intelligence and digital transformation, and earning it growing monthly recurring revenue streams from device and software-as-a-service fees, monthly usage and overage fees, as well as upfront and onboarding fees, each of them contributing to more than 10x revenue growth since 2021 to more than C$2 million, achieved in 2022 and 2023.
Driven by the momentum of exponential growth and major player validation, Fobi’s revenue is continuing to accelerate in 2024, bolstered by C$1.51 million in revenue over Q1–Q2 2024 alone, the blue-sky potential for collecting ticket purchase transaction fees, and the ability to increase fan loyalty through wallet pass technology, as the company stakes a claim in the multi-billion-dollar global event tickets market.
Heralding the return to a client-centric tickets market
Fobi’s new event registration and ticketing platform – built in only 35 days, according to episode 82 of the company’s podcast – is a welcome addition to an overconcentrated market, as it maximizes profitability and user satisfaction using AI analytics, while maximizing ease-of-use through an all-in-one web or mobile interface, where event organizers and attendees can meet their needs.
Instead of having to juggle separate platforms and providers for value-added services, Fobi’s solution consolidates paid marketing, memberships, credentials, parking, food and beverage, merchandise sales and more through its pass bundling feature, saving clients’ time, streamlining and personalizing their experiences, and unlocking a wealth of data to create new or fine-tune existing monetization strategies.
Backed by a management team with a proven track record of generating value for clients while enhancing user experiences, and a trillion-dollar AI tailwind urging businesses to step into the data-centric future, Fobi’s new ticketing platform stands out for its first-of-its-kind convenience in an industry hampered by large players more keen on staying on top instead of moving forward.
A stock with asymmetric upside
Fobi’s demonstrated on-ramp to data visibility, pain-point resolution, and optimized resource allocation decisions, de-risked by a growing number of partnerships with industry leaders, puts it in a position to improve the bottom line for any business in the world, with event tickets and registration being but the latest in a diversity of use cases for its technology.
This mammoth potential, spanning an addressable market in the trillions of dollars (slide 10), suggests that Fobi stock has no business being down by more than 85 per cent since 2019, granting investors a significant chance at a multi-bagger re-rating as the company expands its technology into the go-to hub for the wallet pass ecosystem across literally every sector and industry.
Lean more about the company’s success with breweries by reading “Fobi AI could address a market in the trillions: Why it’s time to buy.”
Join the discussion: Find out what everybody’s saying about this AI and data analytics stock on the Fobi AI Inc. Bullboard, and check out Stockhouse’s stock forums and message boards.
This is sponsored content issued on behalf of Fobi AI Inc., please see full disclaimer here.
(Top photo: Fobi AI)
