ADDACT

Abstract:
ADDACT is a live music startup that re-invents the way concerts are being planned.
ADDACT empowers music fans to decide where their favorite artists tour. Fans pledge for tickets of their favorite artists in their city. If a city gets enough pledges the concert will happen. „Fanpowered Concerts“ is what we call this mixture of ticketing and crowdfunding.
We make money by charging a ticketing fee.
ADDACT is on of the most awarded startups in Germany, including prizes of the federal government, the city of Hamburg and the German federal ministry of economy.

Visit our website: www.addact.de

Description of the business:

Problem:
Concert planning today is a broken system. There is no reliable information about the demand for concerts. There is no planning security but a huge financial risk – concert promoters can only guess how many people will visit a concert and start the planning process not knowing if the production costs will be covered.
For the fan there are no possibilities to participate in the tour planning process. They cannot let their favorite fans know where they want them to play a concert. They try to participate and to tell their bands where they want them to play on Facebook and other channels. But this information is unstructured and non-committal. Therefore it cannot function as valid basis for routing a tour.

Solution:
ADDACT empowers music fans to decide where their favorite artists tour. Fans pledge for tickets of their favorite artists in their city. If a city gets enough pledges the concert will happen. „Fanpowered Concerts“ is what we call this mixture of ticketing and crowdfunding.
Business model: We make money by charging a ticketing fee. Add. plans for a freemium B2B model.

Market:
The live music industry is a fast growing EUR 38 bn. market. At the same time it failed to really adapt to the digital shift and it's characterized by massive inefficiencies: 50%(!) of the available tickets remain unsold. That means that on average concert venues stay half empty.

Status:
We launched our service a few weeks ago a gained some early traction and amazing feedback. An most important: there will be several concerts that would't have happened without our service.

Further Info:
ADDACT is on of the most awarded startups in Europe, including prizes of the federal government, the city of Hamburg, the German federal ministry of economy and the European Union.