According to TodayTix cofounder and chairman Brian Fenty, about 20 percent of theater tickets on Broadway go unsold and almost 30 percent go unsold in the West End. The company’s expansion into London marks a huge, untapped market – a market where tourists spend approximately $8.4 billion each year on the UK’s performing arts (for comparison, the United States’s theater industry brings in about $12.3 billion, with Broadway shows alone bringing in $1.27 billion between 2013 and 2014).
TodayTix’s mobile platform is the first of its kind to give people the ability to purchase last-minute tickets to theater shows at competitive prices. Available for both iOS and Android, users can easily book same-day tickets to certain Broadway (and now West End) shows. Currently, the platform has more than 425,ooo users and has helped people save more than $4.7 million on show tickets. In the past year, TodayTix saw a 763 percent increase in sales. The company has raised a total of $6.7 million since its founding in 2013.
