How True Tickets is bringing blockchain to Broadway
If you’ve tried to buy a ticket to any kind of popular live event — music, theater, sports, etc. — in recent years, then you’ve probably encountered one of the many headaches that typically accompany such endeavors. Whether it’s hidden fees, scalpers using bots to snap up vast sums of tickets for the secondary market, or fraudulent ticket sales, there are plenty of bad actors working to diminish the shared joy of live entertainment.
Broadway’s largest theater operator has had enough of it, apparently. On Wednesday, The Shubert Organization — which owns 17 Broadway theaters and a half-dozen more off-Broadway — announced a partnership with blockchain-based startup True Tickets to enhance the ticketing experience.
True Tickets was one of two companies included in the first Broadway Tech Accelerator program, and the Boston-based company will launch a pilot program with The Shubert Organization’s Shubert Ticketing in 2020. Shubert Ticketing is a multifaceted operation that sells millions of Broadway tickets per year through its Telecharge.com portal, Broadway Inbound group discounts service, and more. According to a release, the pilot program will be integrated “into targeted components of Schubert’s ticketing operation.”
Perfectly Marvelous
Built upon the IBM Blockchain, True Tickets’ platform provides digital tickets via a link on buyers’ smartphones. That’ll be a familiar experience to many, especially those who buy movie tickets via apps, but the real work goes on behind the scenes. True Tickets uses blockchain’s immutable ledger to track every transaction related to each ticket, minimizing the possibility of fraud and ensuring that the person using the ticket is the person who bought it. It also provides helpful data for venues and productions.
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