Ticketing apps have emerged as a defining characteristic of St Andrews. Events rarely rely on bank transfers or cash collection, instead billing their guests through FIXR or Tilt. These two apps hold an informal duopoly over the events scene; however, one may be on the brink of exiting the market.
As recently as May 2015, Tilt was valued at $400 million. In January 2017, TechCrunch placed its potential price at a mere $50 million, while The Information claimed the app could sell for between $10 million and $20 million. Today, a deal was finalised that would return about $12 million in cash to investors, a disappointing drop from their initial $60 million investment.
The Information speculates that AirBnB will likely remove the app from the market, in favour of using Tilt’s payment technology exclusively on the booking website. TechCrunch similarly notes that the app will remain operational “at least for now,” but its future is uncertain.
In the past year alone, Tilt’s usage in St Andrews has declined. DONT WALK has moved to Yoyo Wallet, while equally large-scale events such as the Kate Kennedy May Ball, Welly Ball, and the St Andrews Charity Fashion Show rely on FIXR.
Possibly in response to FIXR’s growing presence, Tilt has increased its booking fee from 3% (plus 95p) to 10%. By comparison, FIXR charges a 2.5% (plus 25p) booking fee.
The next step is yet to be determined; but event organisers should bear in mind that Tilt now has a potential expiration date.