How does DICE make money, then?
None of the DICE founders were involved in ticketing before DICE. So they asked obvious questions such as “Why is it so difficult to buy tickets?”, “Why is the final price completely different to what you said it was” and “What the hell does Face Value mean?”.
When you buy a t-shirt, you see a price, you tap your card to pay and off you go. There’s nothing added later down the line. So, similarly with DICE the price you see at the start is what you pay at the end.
Within that price we charge some event organisers a small commission (typically around 5%, but it varies) to put that event on DICE. This is included in the price you see. There’s also a lot of events where we don’t charge anything, too.
The Waiting List ticket price is also a bit more. When a show sells out on DICE we increase the ticket price to create a new Waiting List price. This is capped at 25% of the original price (so a sold out event ticket of £20 is now £25) but is often less.
This revenue is split directly with the artist/event organiser. This enables us to build and maintain the technology to ensure that tickets can’t be resold anywhere else and make sure fans get tickets to sold out shows for a small fee.
We’ve done this tens of thousands of times and feedback from fans has been universally positive.
Wait a minute, are you just Stubhub? Not at all. We’re here to destroy Stubhub, Viagogo and all the other scalpers who exploit fan passion and speculate by buying tickets early and selling them for insane prices.
We believe that fans shouldn’t be allowed to sell their tickets for more than they paid for it but they should get a refund if they can’t make a show. Right now, we can only do that for sold out shows but we do hope to do it for all shows once we have enough data to support it. We need data to be sure that artists don’t lose money.
The likes of Viagogo and Stubhub aren’t involved in making the industry bigger or greater. They’re financial networks to maximise ticket prices. We want to ensure that the creative industries have the right investment but most importantly that fans are reassured that they’re paying a fair price to attend amazing events.