Fandango is one of the largest online ticket brokers. They primarily deal with movie theater tickets. In this video from Hulu and Dog and Pony, Fandango CEO, Chuck Davis, discusses the importance of multiple streams of income for an online business.
Three key points from the video are:
1. Successful online companies have multiple streams of income. For example, Fandango earns commissions from ticket sales as well as advertising on their site. This is important in case something goes wrong with one stream of income an online business relies on for income.
2. Having a revenue stream on your site that also satisfies a customer need is the perfect kind of content.
3. Search traffic is of critical importance. 90% of Fandango’s traffic is from search engines. This is in contrast to competitors who have to buy 70-90% of their traffic through advertising.
What are your thoughts on this topic of Multiple Streams of Income? Leave a comment and let me know.