Shawn Mendes is putting his money where his fans are
, business manager Phil Sarna and entertainment attorney Lisa Socransky. Weiss says 237 Global will be going into a series A funding round in the coming monthsAlso coming are additional monetization plays. Aside from generating income from custom app creation and management—which Weiss says runs “in the six figures” per app—the company takes a cut of any income generated directly on the app, be it a VIP experience or merch sale.
Most often, though, fans are directed to promoter and ticketing company platforms for ticket sales, says Weiss. “One of the things we built into our apps is a very robust tour section, and we like to think we’re helping everyone in the ecosystem because we are here to help sell more tickets. And we want to drive more livestreams, we want to drive more audio streams, we want to drive more podcast listeners, more merch sales.
To that end, he’s exploring an elevated marketing relationship with promoters around the apps’ ability to generate those sales. “We are having discussions around our own internal data and algorithms to see if there’s some kind of marketing arrangement that might happen should we start to prove we really are moving a lot of tickets,” he says.
A subscription model is also in the works. “We think subscription income will ultimately become a big game-changer,” Weiss says. “Download the app and get some level of first access to tickets or content or merch. We’ve experimented with that a bit and we’ve seen that this kind of first access drives memberships.”
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