What scalpers have known for decades—that there’s a lot of money to be made in day-of-performance ticket sales—now is common knowledge along rialtos around the world. The notion gained further traction today with the announcement that TodayTix has closed a $6.1 million Series A funding round led by New York-based SF Capital Group. As ticket-buyers shift away from long-term planning to make their purchases the week before a show or, increasingly, the day of a performance, more entrepreneurs are developing apps to claim a piece of the action.
SF Capital is a private investor focused on direct equity and debt investments. New and existing participants include TYLT Labs, Rubicon Ventures, Union Square Hospitality Group’s Danny Meyer, New York Islanders owner Jon Ledecky, former Broadway Across American Chairman Thomas McGrath, as well as United Talent Agency’s Jeremy Zimmer, Ryan and Wyatt Rockefeller, Sweetgreen’s Nicolas Jammet, Terry and Hal Greenberg, Keith Jarrett and others. SF Capital’s President, Neil Wolfson, will join the TodayTix board of directors.
TodayTix’ mobile-only ticketing app launched in December 2013 to connect global audiences to the $50 billion global live entertainment business. The app sells last-minute (week-of and day- of) tickets to the complete offering of Broadway and premium theater productions at every price point from premium orchestra seats to discount balcony seats. Competitors include TicketMaster, the Shubert-owned Telecharge, the Theatre Development Fund, which operates the popular TKTS Booths, and Goldstar, which includes events guidance in its app, showing potential buyers a range of available activities in a given locale.
“TodayTix is disrupting an established, historic industry with a truly exciting and innovative product” Neil Wolfson, President of SF Capital, said in a statement released by publicists for TodayTix. “The Company’s traction is impressive, and in ten short months, they have proven that the mobile space is the future for arts organizations of all kinds in defining their next- generation audiences. In 30 seconds or less, TodayTix will connect global arts audiences to a single, streamlined marketplace and we are excited to watch the company continue to scale its platform.”