Gen C Breaking Ticketmaster's Monopoly: Ahmed Nimale's Mission to Fix Live Events
Jun 9, 2025
Ahmed Nimale, the Founder of KYD (KID), dives into his mission to disrupt the ticketing industry. He shares innovative strategies like a rewards system to empower fans and artists. The conversation highlights the complexities of ticketing while rethinking the fan-artist relationship through a Web3 app. Nimale discusses his journey in overcoming Ticketmaster's monopoly and presents a platform focused on data accessibility and enhanced profitability. He also explores using stablecoins for efficient transactions, promising a more equitable ecosystem for live events.
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Transcript
Early Career in Ticketing
- Ahmed Nimale shared his early career in live event ticketing working with Fan Exchange, a Canadian startup competing with secondary marketplaces.
- He illustrated how using loyalty points reduced marketing costs significantly, shaping his understanding of ticketing dynamics.
Ticketmaster's Monopoly Explained
- Ticketmaster's dominance stems from its control over venue commerce rights via upfront capital financing.
- This ownership allows venues to pay artists upfront but burdens venues with costly marketing without clear data on ticket sales.
Blockchain Tackles Ticket Fraud
- KID tackles ticket fraud and resale issues by building on blockchain tech, aiming to cap resale prices and increase revenue transparency.
- Overcoming entrenched secondary marketplaces spending billions in marketing requires venue scale and primary sales control.