atVenu Rakes In Over $100 Million From 4.2 Million Units Of Merch
atVenu launched in January 2013 offering merchandise management via the web and mobile apps, including warehouse and trailer inventories and Soundscan reporting, and have gone on to great initial success. This week they reported their sales to date having settled 25,000 shows, moving 4.2 million units of merch and grossing over $100 million in sales revenue. Given the importance of merch to touring artists and the complexities of handling tour demands for major artists, atVenu seems to have found its sweet spot.
atVenu revealed this week that they've accounted for sales at 25,000 shows settled in the last 18 months.
"In 25,000 shows, we’ve worked with more than 1200 artists in every genre and of all sizes to manage the sale of over 4.2 million units worldwide. This translates to over $100 Million (approx. based on exchange rates) in Gross revenue sales, $78 Million in the US alone."
They broke this down into two charts including the kinds of merch sold.
atVenu Units Sold Worldwide
atVenu U.S. Gross Merch Sales
If you're having troubles with the charts here, please check them out on atVenu's post.
They say they're going to keep releasing data, such as the colors of tshirts sold, that probably will strike some as boring but will be fascinating to others.
Count me in the latter. For example, atVenu's points out that in the second chart:
"TShirts account for 62.87% of revenue. Include Tank Tops, CDs, Zip-Up Hoodies, and Sweatshirts, and these top 5 items generate 81.64% of revenue settled in atVenu."
Interesting though, looking at the list as a whole, you realize that some of the bigger acts could easily fill stores of their own. I haven't been getting to those big shows so it makes me wonder just how much of a shopping experience is possible and how big an opportunity is still being missed onsite.
More:
- atVenu Links With Square To Integrate Credit Card Merch Sales
- atVenu Raises $1.1 Million Seed Round For Event Merchandise Sales
- How To Make The Most Of Your Music Merch
Hypebot Senior Contributor Clyde Smith (@fluxresearch) also blogs at DanceLand. Send news about music tech startups and services, DIY music biz and music marketing to: clyde(at)fluxresearch(dot)com.
