KUALA LUMPUR: Etix Digital Sdn Bhd (EDSB), a Malaysian-owned ticketing company, will invest RM5 million over the next five years to enhance its digital technology capabilities in its etix.my, the company’s online event ticketing platform.
This will allow the company to effectively compete and thrive in Malaysia’s fast-growing events ticket market and across the region.
EDSB’s digital technology is a game-changer that can elevate Malaysia’s reputation as a destination of choice for business and entertainment events.
The solution can generate a positive multiplier effect for the national economy in terms of tourism, job creation and foreign direct investments.
Co-founder and CEO Kinnix Chan said: “The role of the ticketing agent has evolved significantly over the years, growing beyond just printing and selling tickets for events.
“A successful ticketing agency today should see itself as a strategic partner to event organisers by actively participating in marketing and promotions, ensuring a seamless and fulfilling experience for the participants, and enhancing security measures to prevent fraudulent activities or abuse,” she said in a statement.
According to Chan, EDSB has embedded digital technology into its etix.my operations and processes include a robust and user-friendly online ticketing platform with modern e-ticket technology, on-site e-ticketing management and monitoring.
It has also established a dedicated public relations and social media team to promote and market events.
“We will soon be introducing etix.my Marketplace, a first e-trading platform for the event tickets industry in Malaysia that allows people to buy and sell event tickets that have been pre-validated for their authenticity,“ Chan said.
To ensure the efficacy and reliability of the technology deployed within its systems, EDSB 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 ticket solutions,“ Chan said.
According to Statista Market Forecast, revenue in the event tickets market in Malaysia is projected to reach US$103.60 million (RM484 million) in 2024 and show an annual growth rate (CAGR) 2024-2028 of 3.33%, resulting in a projected market volume of US$118.10 million (RM552 million) by 2028.
“The event tickets market expects a further uptick as we approach Visit Malaysia Year 2026.
“We believe that ticketing agencies can contribute to creating a favourable landscape for Malaysia to host world-class events while facilitating their success by offering professional, impactful, and secure solutions for local and international event organisers,“ she added.
Source: The Sun Daily
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