Street Team taps power of peer-to-peer marketing for music festivals
Street Team is a new venture from The Physical Network, the peer-to-peer ticketing company which has caused no shortage of buzz in the music festival space with its savvy P2P software. After recently acquiring direct competitor We Represent in a $3 million dollar deal, The Physical Network launched the new initiative as a way to further their growth in the live entertainment space.
Street Team capitalizes on the power of brand ambassadors to sell tickets, incentivizing die-hard festival fans and social influencers to tap their own networks by offering them amenities like free passes, travel accommodations, backstage access and more. “The number-one reason someone attends a festival is because their friends are going,” Negus-Fancey, co-founder of Street Team, tells Billboard. “So it’s all about trying to find those ring leaders and have them bring their mates.”
It’s proven a successful model so far, so much so that Bonnaroo, Electric Zoo, Bestival, Spring Awakening, EDC UK and more have joined the service. Bestival founder, Rob da Bank, said of the ambassador program: “We’ve had mega success with our fans telling their friends how much they love Bestival, so big up to StreetTeam for growing our advocates year on year.”
StreetTeam’s CEO, Callum Negus Fancey, described the value of the service best:
“The events market is becoming increasingly competitive and as a result, promoters are looking for new and improved ways to find new customers and retain the ones they have. Research shows that building relationships with your top fans and getting them to promote your brand to their friends is a great way to reach new audiences and build brand loyalty.”