“SweetSeat” and “SweetSeat Elite” Rewrite Rules of Supply and Demand for Live Event Tickets
September 1, 2017 (McLean, VA) — Like a lot of people who attend professional sports events and live concerts, James R. Williams and William P. Thomas always wondered why the stadiums were practically full, but many of the corporate suites were half empty or even dark.
“Companies were paying a lot to entertain clients and prospects in those seats, but they didn’t seem to be doing a good job of filling them,” said Thomas, a financial industries entrepreneur. “As both a sports fan and a business executive, it killed me to see such wasted opportunity.”
That got him and longtime friend, Jim Williams, a former SVP of Global Broadcast for Associated Press, to thinking about how the suites were managed and how the companies that leased them could achieve a greater return on their investment. Conversations with several of these law firms and corporations revealed that most had very little in the way of distribution processes or attendance tracking, and none had an accurate way of conducting cost-benefit analyses.
“We learned that this problem is endemic to corporate suite holders at venues nationwide,” said Williams. “Nearly 43% of seats go unused by companies that, collectively, are spending tens of billions on MLB, NFL, NBA, NHL and concert tickets. The biggest technology companies in the country are not using automation to manage ticket distribution across multiple markets, offices and seasons. And the biggest financial companies in the country are not using automation to track expenditures and ROI.”
Within weeks of this discovery, SweetSeat LLC was formed to manage corporate suites for lessees in the Washington, DC market. SweetSeat informs employees eligible for tickets of their availability via automated email and manages ticket delivery, parking passes, in-suite catering and attendance reporting. With the release of a software solution currently in development, SweetSeat will expand to other markets.
In addition to managing the internal distribution of tickets, SweetSeat also provides to its clients ticket resale services to fill unclaimed seats. The tickets are offered at-cost to a select club of business owners, senior executives and professionals who must apply for membership in “SweetSeat Elite.” The number of club members is very limited and based on the inventory of seats under management by SweetSeat.Read More