Demand Soars Beyond Pre-COVID-19 Levels
W Performance Ticket Sales Increase 257% in Q3
E-commerce company WEMAKEPRICE is strengthening its competitiveness in the performance ticket sector. Amid fierce competition in the e-commerce market, it is evaluated to be laying the groundwork for a resurgence in this field after being acquired by Qoo10.
WEMAKEPRICE recently announced on the 30th that sales of 'W Performance Tickets' have already surpassed pre-COVID-19 levels. In the third quarter of this year, performance ticket sales increased by 257% compared to 2021, and the number of new customers also grew significantly. All categories of performance tickets, including concerts, musicals, classical music, dance, theater, kids, exhibitions, and experiences, showed balanced growth.
This coincides with the market situation ahead of the year-end. The performance industry has recovered demand to pre-COVID-19 levels. According to the Korea Performing Arts Integrated System (KOPIS), ticket sales in the performance market for the third quarter of this year amounted to approximately 327.1 billion KRW, an increase of about 185% compared to the third quarter of 2019, before the COVID-19 pandemic.
Industry insiders see WEMAKEPRICE emerging as a new strong player in a market where Interpark, Ticketlink, and YES24 are engaged in a three-way competition. WEMAKEPRICE has gained attention by consecutively selling large festival tickets exclusively. To this end, WEMAKEPRICE efficiently reorganized its structure by integrating the exhibition and concert departments and establishing a performance ticket team.
So far, WEMAKEPRICE has presented numerous exclusive performances such as the 'Lab Beat Festival,' 'Sam Smith Korea Tour,' and 'Go Out Camp,' and about 100 exclusive showings prepared solely for WEMAKEPRICE customers. Additionally, 'Culture Day' and 'Wemep Day,' which are only available on WEMAKEPRICE, open some sessions of popular performances exclusively and offer tickets at special prices. Targeting enthusiasts, they hold events on the day of the performance such as actor stage greetings and customer participation events.
Aggressive marketing such as exclusive performance hosting and special price products has led to an influx of new members to the WEMAKEPRICE site. For example, when tickets for 'The Fact Music Awards' opened in September last year, the number of new sign-ups surged by 292% over the monthly average within two days.
WEMAKEPRICE plans to offer various delivery products to customers who come through performance tickets to support one-stop shopping. For customers buying festival tickets, they link-sell various products such as mats for use at the festival. In fact, it was found that two out of three customers who used W Performance Tickets in the third quarter of this year purchased products other than tickets together.
WEMAKEPRICE’s strategy is to secure differentiated competitiveness in the e-commerce market by strengthening the performance ticket sector. Currently, it is selling major performances such as the musical 'Rent,' the musical 'Macbeth,' the concert 'Walt Disney 100th Anniversary Concert,' and the festival 'Genie Music Festival,' and plans to present performances such as the 'World DJ Festival' next year. A WEMAKEPRICE official said, "We will continue to attract performance enthusiasts as general customers and general customers as performance enthusiasts."
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