Jukely was one of the companies that joined Paradiso Labs on september 9th 2016 in the NY Media Center alongside companies like We Are Public, AWAL and Eventbrite. Music innovators sharing knowledge and discuss opportunities. An interview with Bora Celik of Jukely.
What is Jukely? (What do you do and how does it work?)
Jukely is a concert subscription service. Our members pay a monthly fee that allows them to attend a different concert every day. You can technically go to 30 concerts a month if you can manage to do that. The core offering consists of mostly new and emerging acts so it's a wonderful service for discovering new artists in an affordable way.
How big are you right now?
We're currently in 16 cities. 14 US cities, as well as Toronto and London. In terms of sheer member attendance size, Jukely is a Top 100 promoter in the world right now.
What is your business model?
Jukely collects subscription fees from its members, keeps a certain percentage of it, and distributes the revenues to its pool of participating promoters and venues based on member attendance to their events.
What role do you play in the live circuit? (How do you help artists and how do you help clubs?)
The premise of Jukely is based on the fact that people are not willing to buy concert tickets for acts they are not already fans of. This creates a difficult environment for developing artists as they are not yet big enough to sell a lot of tickets and build a fan base. This is where Jukely comes in. Since our members already paid for the service, they are more open-minded about seeing new artists they normally wouldn't pay for. More than 70% of Jukely members have said that they'd attended shows from artists using Jukely that they'd never heard of before.
This new behavior helps artists build their fan bases faster by performing in front of curious music lovers that they couldn't have reached otherwise. For promoters and venues, it creates extra revenue from the tickets they wouldn't have sold otherwise. As well as increased liquor revenue at the venues, since members now have extra money in their pockets that they haven't spent on buying tickets.
What are your ambitions?
Concert attendance is still not a mainstream activity. Only a small percentage of music lovers actually attend concerts on a regular basis. Our belief is that seeing live music regularly makes us happier humans and we all should do more of it. As a company we want this new type of frictionless, affordable model to inspire more people to introduce the joy of live music into their lives. If you're going out more to see more music, energized your social life, met a lot of new music friends and got introduced to many new bands, and your life is now more delightful for it... We've achieved our mission.
What are the biggest hurdles you have to take?
We're the first ones to pursue this brand new category in a relatively large scale. As a result, the challenges presented from the consumer side and the industry side are brand new, nobody has faced them before, and nobody wrote a blog post with their learnings for us to learn from. Consumers are conditioned to buy tickets for a few artists they are fans of and that limits their behavior. They haven't really thought about a monthly subscription budget for artists they might like. This is new for them. And from the industry perspective, it's an ongoing education process with presentation of data and behavior to show that this is a way to expand the business. Lots of folks are hesitant on embracing new models such as this.