BBVA API Market
London Theatre Direct (LTD) is at the forefront of technology thanks to APIs. The British company is using Mashery API Management by TIBCO Software, which serves as a management platform for digital business, and is applying it to sell tickets thanks to customized connectors with all theaters in London.
The TIBCO Mashery API provides everything you need to create an integrated API market where service providers and consumers unite to create, host, manage, learn and use open APIs. In the partiuclar case of London Theater Direct, the management tool allows the company to monitor the various partners connected to the core API.
As a result London theater lovers are delighted, having more options to find the tickets they want. API connectivity with leading venues and theater groups in the capital enables customers to access more tickets in real-time, and generating an increase in sales as a result. In fact, the musical “Jersey Boys”, for example, has recorded a 600% increase in sales since LTD started using the TIBCO API.
Selling tickets online may seem simple; however, it entails much deeper dynamics, as a theater production is, in essence, a creative act with no guarantees of success from the outset. Therefore a balance is needed between the producer’s aspirations and reality.
Better ticketing not only means an increase in sales, but also producers and theaters can offer shows that may have been considered high risk before. Not to mention the whole thread of information that emerges from the ticketing itself: who goes to what type of show, when, what type of transport is used to go, etc.
The ticketing company has not only created an easier booking service. The API it uses functions as a platform and so other companies, such as hotels and transport companies, can also be connected with LTD services.
Data indicate that a third of the people traveling to London may want to go to the theater. Based on this premise, LTD thought it would be good to connect its service directly with room booking systems and charge a premium to do so.
For all that, the API used by LTD has created a number of opportunities beyond just selling tickets, such as event packages, loyalty programs, and even sponsorship models.
In the theater world and many other cultural sectors, technology allows us to progress in a way that we had never imagined. APIs are the key to creating synergies and partnerships that impact business improvement and also for the whole community.
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