E212 – How Festival Pass Plans to Hit $40 Million ARR in 2020
Ed Vincent is the founder and CEO of Festival Pass which is a flat rate monthly subscription service that allows members unlimited access to festivals. Long history as a data entrepreneur including head of data for MoviePass.
During this interview we discuss:
– How and why Ed decided to launch Festival Pass.
– He shares his experience and what he learned during his time as head of data at MoviePass.
– Then we discuss how Ed and his team plan to grow Festival Pass to $40 million ARR in 2020.
– He shares 2 key metrics required in order to scale the business profitably.
– Ed shares his 2 fold customer acquisition strategy.
– The importance and focus on local media to generate new subscribers.
– How they plan to leverage PR to create awareness and drive subscriptions.
– Ed talks about a unique customer acquisition strategy that involved a corporate employee retention program.
– He shares how they are leveraging equity to procure large media partnerships.
– We talk about how Festival Pass is aggregating event partners.
– The economic breakdown of how the Festival Pass can afford to offer access to events on a flat rate basis.
– Ed shares his favorite growth tool/software.
– He recommends one of his favorite books to the audience.
Ed’s websites
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E212 – How Festival Pass Plans to Hit $40 Million ARR in 2020