MALAYSIAN-OWNED ticketing company Etix Digital Sdn Bhd has committed RM5 mil over the next five years to enhance its digital technology capabilities in an effort to effectively compete and thrive in the fast-growing event tickets market in Malaysia and across the region.
The home-grown outfit which is also known as etix.my further expects digital technology to be a game-changer that can elevate Malaysia’s reputation as a business and entertainment events destination of choice.
In turn, this can generate a positive multiplier-effect for the national economy in terms of tourism, job creation and foreign direct investments.
“The role of the ticketing agent has evolved significantly over the years, growing beyond just printing and selling tickets for events,” commented Etix Digital’s co-founder and CEO Kinnix Chan.
“A successful ticketing agency today should see itself as a strategic partner to event organisers by playing an active part in marketing and promotions, ensuring a seamless and fulfilling experience for the participants as well as enhancing security measures to prevent any fraudulent activities or abuse.”
According to Chan, etix.my has embedded digital technology into its operations and processes including a robust and user-friendly online ticketing platform with state-of-the-art e-ticket technology, on-site e-ticketing management and monitoring as well as putting in place a dedicated public relations and social media team to promote and market events.
“We will soon be introducing etix.my Marketplace, Malaysia’s first e-trading platform for the event tickets industry that allows people to buy and sell event tickets that have been pre-validated for their authenticity,” enthused Chan.
In order to ensure the efficacy and reliability of the technology deployed within its systems, etix.my disclosed that it is working alongside its strategic partner, Alpha Red Solutions Sdn Bhd, a home-grown specialist in developing booking engines and integrated payment services capable of managing high-volume transactions.
“When it comes to large-scale world-class events, there is little room for error. We are mindful of the skill-set and experience required to deploy technology in a way that can effectively cater to the growing demand for event tickets solutions,” asserted Chan.
According to Statista Market Forecast, revenue in Malaysia’s event tickets market is projected to reach US$103.60 mil (RM484 mil) in 2024. It is expected to show an annual growth rate (CAGR 2024-2028) of 3.33%, resulting in a projected market volume of US$118.10 mil (RM552 mil) by 2028
“The event tickets market is expecting a further uptick as we approach Visit Malaysia Year 2026,” Chan further projected.
“We believe ticketing agencies can contribute towards creating a favourable landscape for Malaysia to host world-class events while facilitating the success of these events by offering professional, impactful and secure solutions for local and international event organisers.” – July 25, 2024
