Market size

How to conduct market size research for a niche market ?

James Chetwood Front-End Developer / Drupal Themer at Eurostar

November 20th, 2014

I have an idea for a website to do with a certain niche of music events, initially in London. To work out the viability of my idea I need to know how much is spent on tickets for this type of music in London, and ideally what share of this is purchased in advance online.

Does anyone know how I go about finding out this type of information?

Eric Burleson Product Manager-Program Services at Invodo

November 20th, 2014

I would identify how many clubs there are in London that have shows with this kind of music (A). Then figure out what their average total occupancy is, or what their occupancy by club is (B). Then figure out how close to sold out they get by week (C). Then ask each what percentage is sold online (D). A*B*C*D is weekly spend in London. Extrapolate. It will never be exactly right, but will usually get you in the right quartile or so of the right order of magnitude.

James Chetwood Front-End Developer / Drupal Themer at Eurostar

November 20th, 2014

Ive no idea how many clubs have these shows. Any guess would be very inaccurate. I dont know what the average occupancy is and checking each one individually would take a long time, and I also dont know how full they are. 

Basically I dont think I can do this manually. I was hoping there would be a business or government resource for this type of information?  

Lawrence Lerner Digitalization and Transformation Coach

November 20th, 2014

James, sounds like a very interesting concept. Ping me offline I know someone who runs a ticket sales operation in the UK and US.