Arts software maker posts nearly 40 per cent revenue growth in 2015

Spektrix, the leading cloud-based box office management software for the arts, today announced revenues of £3.4m (€4.3m) in 2015 – a 38 per cent increase on 2014 and the seventh consecutive year of double-digit revenue growth.

The company incurred a small 2015 loss of £200,000 in the UK, and USD261,000 in the USA, due to reinvestment of profits in pursuit of rapid growth.

The company now handles more than two billion web hits annually, employs 59 staff in offices in London, Manchester and New York, and has more than 235 customers in the UK, Ireland, and North America – including London’s Royal Court Theatre, Town Hall and Symphony Hall Birmingham, Bristol Old Vic, Juilliard School, Round House theatre in Washington DC, and the Luminato Festival in Toronto.

Spektrix was founded in 2007 by CEO Michael Nabarro (also an IAM columnist) and CTO Matt Scarisbrick, Spektrix’s cloud software encompasses ticketing, direct marketing, fundraising and customer relationship management (CRM). (Read Nabarro’s arts marketing advice on the IAM Blog.

The software brings marketing and analytics solutions to arts companies of all sizes, allowing them to quickly generate customer data, create targeted marketing and fundraising communications, and power audience development.

2015 saw more North American expansion for Spektrix, with the addition of 11 new customers, including the Royal Conservatory of Music in Toronto, New York Theatre Workshop, and San Francisco’s storied Curran Theatre.

‘While there’s been a lot of focus in recent years on the consumer side of ticketing, the underlying technology that powers the world of entertainment is way behind the times and has been massively under-invested in’, said Michael Nabarro. ‘Matt and I started Spektrix in order to change this by delivering world-class cloud-based technology to the industry. This is already helping arts organisations to run more efficiently, grow their revenues and build deeper relationships with their audiences.

‘In the longer term we hope to change the way business is done in the world of ticketing for the better – and believe that technology, not legislation, is the solution to the problems in our industry.’

Infographic: Spektrix by Numbers 2015

Spektrix Results 2016 Infographic