Gigfaster ((full))

Report on GigFaster Date: October 26, 2023 Subject: Company Overview, Business Model, and Market Analysis of GigFaster

1. Executive Summary GigFaster is a music technology company and online platform designed to streamline the live music booking process. Founded with the mission to support independent artists, the platform acts as a bridge between musicians and venues. By digitizing the matchmaking and logistics of booking gigs, GigFaster aims to remove the traditional gatekeepers of the music industry, allowing artists to secure paid performances more efficiently while helping venues find compatible talent. 2. Company Background & History Founded in 2017 by Nick Lulla and Victor Skarednikov, GigFaster emerged from the founders' personal experiences with the difficulties of touring and booking shows. The company is headquartered in Philadelphia, Pennsylvania. The founders recognized a asymmetry in the market: artists spent a disproportionate amount of time emailing venues with low success rates, while venues were inundated with unorganized submissions. GigFaster was created to solve this inefficiency through automation and data matching. 3. The Problem and Solution The Problem:

For Artists: The "cold email" method of booking is time-consuming, demoralizing, and often yields low response rates. Independent artists often lack the network required to book tours. For Venues: Sifting through hundreds of emails, EPKs (Electronic Press Kits), and streaming links to find appropriate acts is labor-intensive.

The Solution: GigFaster operates as a submission and matching service. gigfaster

For Artists: They create a profile linking their streaming stats (Spotify, social media). GigFaster then suggests venues that match the artist’s genre and location. Artists can submit to multiple venues with one click. For Venues: Venue owners receive curated, organized submissions that fit their specific programming needs. The platform provides a "one-click" approval or rejection process.

4. Business Model and Pricing GigFaster utilizes a hybrid revenue model involving subscription fees for artists and service fees.

Artist Subscriptions:

Free Tier: Allows artists to build a profile and view venue lists but limits submission capabilities. Paid Subscriptions: (Often priced monthly or annually). This unlocks the ability to submit to venues directly through the platform, access "GigFaster Guaranteed" submissions, and use tour routing tools.

Booking Fees:

When a gig is successfully booked through the platform, GigFaster may charge a nominal service fee or a percentage of the guarantee, though the primary revenue driver has historically been the subscription model which empowers artists to "subscribe to submit." Report on GigFaster Date: October 26, 2023 Subject:

5. Key Features and Technology

Artist Profiles & Integration: The platform integrates with Spotify and social media to pull real-time metrics (monthly listeners, follower counts). This data serves as a vetting mechanism for venues. Smart Matching: The algorithm matches artists to venues based on genre, location, and draw potential (the number of ticket-buying fans an artist can bring). "GigFaster Guaranteed": A feature where specific venues guarantee a response within a certain timeframe, offering artists certainty and peace of mind. Routing Tools: For touring artists, the platform offers map-based visualization to help plan efficient travel routes between potential venues.