Gigwell is a software as a service (SaaS) company, meaning they host an application online and provide it to customers for a monthly subscription. Saas has become increasingly popular as it is a low cost option for companies who don’t want to pay for software installation, maintenance and the other expenses that come along with running your own applications.
The company is in the software industry but operating within the live entertainment space. Their main focus is on music booking agencies and artists but they also work with speakers and comedians.
I was very unfamiliar with the booking process as I’m sure many of you are. What I learned is that the day-to-day operations of the industry are outdated and utilize very little technology. Booking agents keep all their information on spreadsheets and in their emails. It can take up to 80 emails back and forth with a talent buyer to actually close a deal and the contract signatures and payments take forever to receive. Some buyers will still pay artists with duffle bags of cash, which should never happen with all the payment options available today.
Gigwell created this software in order to organize and automate this process. The founder is both an artist and a buyer at a nightclub and was fed up with the outdated system.
Other companies have entered the space but competition is currently low. There are 7 or 8 companies that are providing a similar service. Gigwell is considered to be a leader in the industry as they book shows for fairly well known artists and agencies and their platform is extremely professional. Representation for artists like Rick Ross and The Black Eyed Peas use the platform to book their shows.
Although these are big names, Gigwell does not currently work with the biggest agencies. The biggest agencies have too many users and too much activity to be hosted on the applications offered by those in the industry. From a customer support perspective, B2B sales are also exceptionally difficult and require a lot of time and dedication to the client. When there is a small team, it can be easier to maintain small to medium clients during growth and bigger clients will be signed down the line. This strategy was really interesting to me and it makes a lot of sense. Startups need to be patient and not grow too fast or they might work beyond their capacity.
Overall, the industry is really interesting to work in and its great to see the passion people have for improving it. With a more efficient process behind it, more shows will be booked and more money will be made.
As a big music fan and concert goer, it is really cool for me to be so close to it. I’ve sat in on calls with some of our major clients and have been exposed to some awesome companies and people. Those who are not involved with the industry would never really think about how much goes into putting talent on the stage. I know I never have but, it helps me appreciate the industry more.
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