Mobile devices, social media help, not hurt, Eventbrite

Amid the jibber jabber of drones, driverless cars and smart watches that pervades the Bay Area these days, it would be tempting for a well-worn technology firm to shake things up in the name of innovation and relevance.

Eventbrite derives all its revenue from the relative mundane business of selling tickets online to events that previously sold paper tickets.

Demand for live eventsAs the economy recovers from the recession, online ticket sales have been growing at a healthy annualized rate of 4 percent, according to a report by market research firm IBISWorld.

Furthermore, the number of Internet transactions has underpinned online ticket sales growth over the long term.

Artists don't make money from digital music sales.

"The increased tendency to spend time in groups while in public contrasts with evidence from other research that suggests a decline in American public life, and that mobile phones have increased social isolation in public spaces," the study said.

[...] technology is driving growth in public events like concerts and sporting events.

The rise of smartphones has also helped as consumers are now more comfortable than ever making purchases on the go through seamless smartphone applications.

"With classes, tours, music festivals, community theater, we have so much market share we want to grab," he said.