Steven: Jack hit it on the head. Ultimately, at the end of the day, its just making
the experience better for the end user. Everybody else in the ecosystem wins if the fan is having a great time and its easier for them.
We think of
things like, Oh, how do I get that food, or merge, or upsell, or whatever? Just being able to walk in and go, Hey, I know youre in GA. You can get into the VIP section. In the moment, people will spend. That can be a
really meaningful spend, but its what they want.
Everybody wins. Thats a critical thing. It comes back to you. You cannot abuse that. If you
dont respect the fan in using that, it will come back and kill you.
David: While were on the topic of the digital ticket,
Jack, what do you see is the potential for ticket in the NFT space? Is it turning the ticket into an actual NFT, or are there other NFTs that you could sell as part of that purchase process? What type of demand do you see for a product like that?
Jack: Intuitively, to me, it makes a lot of sense because the analog of NFT is its digital collectibles for things that used to be
collected in the physical world. People have collected tickets for a long time, still like the first inning of all of this.
None of us know exactly how
its going to play out, but just allowing folks to mint NFTs, mint a ticket into an NFT after theyve gone to something, putting it out on the Internet, and seeing what folks do with it will be super interesting.
Its something were exploring. Right now, important to understand what rights holders, teams, promoters want as well because, ultimately,
theyre part of this value chain. We want to make sure that theyre included.
David: Steve, any thoughts on that? When you
think about an event like Coachella, and its so iconic, is there a way to create NFT collectibles out of...? Think about posters, or art, or even the experiences itself. How do you think about the NFT?
Steven: Its happening. Were already partnering with folks in the space. It comes back to...I think for people, Look, this
is an expression of self. Were in the world of art, were in the business of art as well, right?
Thats always a careful
equilibrium, because as Jack pointed out, theres other constituents. You dont want to offend their sensibilities, but I, as a fan, if Im going to a concert on my birthday with friends and want something to associate with that to
have something unique and special to me, thats super compelling.
David: Jack, we got about, well, a little less than 10 minutes
left, but I want to give you a little bit of time to talk about the transaction. Last week, SeatGeek announced they would go public via SPAC in a transaction with RedBall Acquisition Corp. Maybe you could just provide us a brief overview of the deal
and what RedBall will bring to the combined company.