Face value ticket reseller Twickets has exceeded its £700,000 target after just 32 days on an equity crowdfunding platform.
More than 500 members of the public and live entertainment business have already invested in the company. Closer Artists (James Bay, George Ezra, James Morrison) invested soon after the campaign’s launch, and this weekend Andy Murray became the latest high profile name to invest via Seedrs.
Twickets, which was last week confirmed as the official resale partner for Adele's Wembley Stadium shows, has announced its expansion to Australia in 2017, in addition to the already planned US and Spain.
“Thank you to everyone who has given their support to Twickets, helping us to achieve our target much faster than expected," said Twickets founder Richard Davies (pictured). "People evidently believe in stopping fans being ripped off and saving them money that can in turn flow back into the entertainment and sports industries. We look forward to expanding to Australia, Spain and New York next year.”
Despite reaching the funding target, the campaign will remain open for a few more weeks. There have been particularly high levels of interest following the news that Twickets will act as both Adele and Crystal Palace’s official ticket reseller, and that it has signed deals to integrate with music promoter Kilimanjaro’s online purchase hub Myticket.co.uk and national ticket agency Gigantic.
Founded in 2015, Twickets’ enables fans who can no longer attend events to resell their tickets at face value, an alternative to the for-profit secondary marketplaces. The crowdfunding campaign opened on November 7 following significant reinvestment from the entire founding board and new investment from music industry veterans Marcus Russell and Alec McKinlay (Ignition Management; Noel Gallagher’s High Flying Birds, Catfish & The Bottlemen). Twickets is additionally supported in Spain by a group of established music managers and promoters led by Neo Sala, founder of the country’s largest concert promoter, Doctor Music.
Subscribers can read Music Week's Big Interview with Twickets founder Richard Davies here.
