Community Research and Development Information Service - CORDIS

H2020

ADDACT GmbH Report Summary

Project ID: 710732

Periodic Reporting for period 1 - ADDACT GmbH (ADDACT - Fanpowered Concerts)

Reporting period: 2015-12-01 to 2016-05-31

Summary of the context and overall objectives of the project

ADDACT is a live music startup that re-invents the way concerts are being planned. ADDACT minimizes the financial risks of tour planning by putting the fan´s interest first.
We empower music fans to decide where their favorite artists tour. Fans pledge for tickets of their favorite artists in their city. If a city gets enough pledges the concert will happen. „Fanpowered Live Events“ is what we call this mixture of crowdsourcing and crowdfunding.
To enable this disruptive innovation in event planning, ADDACT sticks to the well-defined business approach of just charging a ticket fee as all ticketing service providers do.
ADDACT is one of the most awarded startups in Europe, including prizes of the federal government, the European Union and the German federal ministry of economy.

To form a business basis for market entrance plans and expansions to other European countries we carried out a Feasibility Study.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The feasibility report focusses on:
- prototyping, testing and analysis of features for an even higher level of fan-participation.
- a market study and and the acquisition of business partners in the live event industries of UK, Benelux and Scandinavia
- a derived future price model and strategic road map

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

As result of this Feasibility Study, a SME Phase II project will be submitted.

Related information

Record Number: 190080 / Last updated on: 2016-11-07
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