Saudi Arabia’s General Entertainment Authority (GEA) plans to double WeBook’s revenues, the official ticketing platform for Riyadh Season, by adding new features.
These include exclusive live streaming of events and concerts. The goal is to boost profits, diversify income sources, and benefit the Saudi economy.
Turki Al-Sheikh, GEA Chairman, also revealed plans to list WeBook on the Saudi Stock Exchange, with expectations for it to become a billion-dollar company.
WeBook has already achieved impressive results, with ticket sales exceeding SAR 1 billion ($266.6 million) and over 11 million tickets sold. It has 5 million users from more than 160 countries.
During Riyadh Season, WeBook became the most downloaded app, with over 5 million downloads, giving access to more than 520 global events.
At a press conference on Wednesday for the upcoming Riyadh Season, Al-Sheikh announced that all events will be exclusively streamed on the WeBook platform. There will be two viewing options: a free version with ads and a subscription-based option without ads.
He also introduced a new feature allowing viewers to interact with artists during live concerts. Users will be able to vote for their favorite songs through the platform, enabling direct engagement between fans and performers.
WeBook’s new subscription options offer various packages tailored to user preferences and access to exclusive, limited-edition products. Subscribers can also join live discussions and bid on unique experiences and rare items.
The platform has enhanced the ticket-buying process with features like waitlists, improved resale options, a loyalty program, and faster payments via Apple Pay.
WeBook is working with authorities to fight ticket fraud, creating a team dedicated to this issue.
They have canceled over 18,000 counterfeit tickets and shut down eight black market sites. The platform has also banned over 5,000 accounts and monitored more than 3 million transactions.
In the past year, WeBook generated over SAR 45 million ($12 million) in revenue, served more than 65,500 users, and facilitated over 100,000 resales.
Additionally, WeBook has signed a deal with the Saudi Pro League to be the exclusive ticket platform for the next three seasons, starting in 2024-2025, allowing for early ticket sales.
