(Editor’s note: This interview is part of a series of Q&A profiles on College of Information Sciences and Technology alumni who are using their degrees to make an impact in a wide range of industries and companies around the world. A compilation of their stories was published in the Summer 2022 issue of iConnect magazine.)
Josh Stine knows a thing or two about the sports ticket industry. After graduating from Penn State in 2014 he joined Happy Valley Tickets LLC, a secondary ticketing company run by fellow College of IST alumnus Nick Keesey. As their firm quickly grew, the duo realized they were on to something big, and in 2018 the two co-founded Seat Insiders Inc., providing an easy way for fans and companies to secure tickets to thousands of sports matchups, concerts, and theater events around the world. Now, as manager of pricing strategy for Elevate Sports Ventures, Stine draws on his industry experience to lead a pricing team serving more than 100 professional and collegiate partners.
What are your day-to-day responsibilities?
My primary responsibilities include developing ticket pricing strategies with partners; implementing and managing ticket pricing; controlling market supply and distribution; analyzing sales and overall market trends; and sharing data and insights with partners. I support our partners in building pricing models and strategies utilizing our proprietary pricing platform. We continue to make it easier than ever for our partners to gain insights, identify trends and adjust pricing in real time so they can ultimately achieve their goals and sell more tickets.
How are you using your IST skills and education to make an impact in the sports and entertainment industry?
Most of the ticket business is driven highly by technology and data, so my IST skills have always set me up for success both as an entrepreneur and a leader in sports and entertainment. While much of our business is technology-driven, IST also helped me develop the soft skills required to support client services like delivering projects, driving sales, building partnerships, and leading meetings.
What are the top current information technology trends, needs and concerns in your industry, and how are you working to advance or address them in your role?
Sports and entertainment organizations are increasingly utilizing dynamic market-driven pricing for all events to maximize revenue and achieve higher sell-through. We leverage a variety of factors like team performance, opponent, historical sales data, day/time of the event, among many other factors to price our inventory dynamically, like the hotel and airline industries. Data and analytics are critical for the sports and entertainment business. Our partners are looking for unique and valuable insights to maximize revenue and attendance and improve every aspect of their business through a better fan experience.
The primary and secondary ticket markets continue to converge. This has changed the game for fans, offering more ways for fans to purchase tickets however and whenever they want. Additionally, mobile and digital ticketing continues to be widely adopted industry-wide, resulting in safer, more secure, and easier-to-use ticketing systems that reduce fraud and allow organizations to better understand how fans are utilizing their tickets.
Why did you decide to apply your degree to the sports and entertainment industry?
Originally after graduating from IST, I worked for a major consulting firm and started a side hustle learning about the ticketing and sports industry. As that continued to grow, I eventually left my consulting gig to focus full time on building Happy Valley Tickets. We grew quickly, ultimately managing a seven-figure portfolio of tickets. After a few years, I started Seat Insiders to address a new part of the business. I love helping people create experiences through sports and entertainment and I’m now able to do that at scale with one of the best companies in the industry.
What motivates you in your work?
At the end of the day, the fans are our customers. Yes, we work for our partners, but our partners work for the fan every day. If we aren’t innovating and focused on the fan, we may lose sight of our mission. The fans are what motivates me each and every day.
What is the most rewarding part of your job?
Supporting teams that I have been a lifelong fan of. There is nothing I love more than being able to have a small impact on teams that I love and feel like I’m making a difference. Over my eight-year career in the industry, I’ve also been fortunate to attend many major sporting events like the Super Bowl, College Football Playoff, World Series, Wimbledon, Final Four, and many more.
What information technology changes, advances or needs do you envision in your industry in the next five to 10 years, and how are you and/or your company poised to address them in your role?
Technology and data will continue to transform sports and entertainment in ways we can’t even imagine today. Everyone likes to talk about NFTs, blockchain, metaverse, and so on, but these technologies are still in their infancy in sports and entertainment. Expect to hear a lot more about these in the coming years!
We also recently announced a partnership with Recentive Analytics to deploy a machine learning and AI-powered predictive platform that utilizes thousands of data points to predict ticket pricing, attendance, renewals and more. This technology is already in the hands of more than 30 partners helping them to improve renewal rates, drive more revenue, and better forecast overall sales
How does the College of IST prepare its graduates for professional success in a broad range of industries, including sports and entertainment?
Like many industries, sports and entertainment are always changing, especially on the ticketing side. Every year new technologies and innovations continue to make our industry smarter and more forward-thinking. No day is the same so like many other industries, you have to stay on your toes and continue to drive positive change and solutions or you will get left behind.
What advice do you have for IST students?
Don’t settle in your career. If I had settled and stayed in consulting I would have never been on this incredible journey in sports and entertainment. This industry has allowed me to travel all over the world, attend hundreds of events, create lifelong friendships, and live a life on my own terms while following my passions.