The technology startup Fever will invest up to five million euros in co-organization of events, such as music festivals in Portugal and guarantees that with its ‘crystal ball’, that is, data analysis, the success of the initiatives it’s guaranteed.
[dropcap type=”background”]A[/dropcap]fter around five months of activity in Lisbon, through recommendations for leisure activities, Gil Belford, leader of the national team, reveals that the five million euros will be invested in the next 24 to 36 months.
But there is a desire in 2019 for “putting together one or two large-scale productions” and an invitation has already been made: “We are completely open to proposals from other promoters who have ideas and put them in the drawer because they thought they were too crazy.”
Fever is guaranteed to raise doubts, using technology, about whether a concept “is really crazy or have legs to walk” and let the numbers speak for themselves: in the big events, intended for at least 10,000 people, usually, the bill “more than a million dollars“.
“This is also the expectation we have with these five million” in Portugal, noting that before “investing the first euro in an event you can use the crystal ball of data to see if you will or will not “.
In parallel with the operation of Netflix distributor and creator of audiovisual content, Fever explains that through its audience of millions of people it collects aggregated information.
“We validate concepts through our audience,” says Gil Belford, who points out that the legal issue of data protection reminds us that the main interest is for aggregate data and that despite the fact that there is a login through social networks data is not collected identifiable information.
The user selects interests, the application “learns from the aggregate consumption of the city” and the aggregate data serves to identify consumer trends and for such a ‘crystal ball’.
Last year, the ‘crystal ball’ forced to rethink the music festival Jardin de Las Delicias in Madrid, because the original plan was to reach 10,000 people and eventually sold 16,300 tickets.
Isabel Solano, responsible for the Fever ORIGINALS area, the company’s own productions, notes, on the other hand, that on the basis of success was the analysis of data at the expense of preferences, personal tastes or “non-relevant” rankings.
On her way to Lisbon, she adds that one of the ideas for the national capital is to “produce a music festival” and that data analysis will be used to decide the poster, as in Madrid.
In these events, it is tried to “optimize the involvement and minimize the risk“, according to Isabel Solano, who guarantees that with the processing of data a line-up of a festival is created with only 100 thousand euros for an audience of over 16 thousand people.
Another success story is a fashionable ‘escape’ from the Casa de Papel series, which since October has secured the sale of 60,000 tickets.
Lisbon was the 13th city of Fever implementation, whose activity unfolds through recommendations and event organization, guaranteeing profit through sales commissions.
The arrival was made with financing from Portugal Ventures and Caixa Capital, not disclosed.
Currently, the team has 12 people, but Lisbon is about to be the ‘home’ of more people, with the creation of a technological pole, the only one outside the company’s headquarters in Madrid.
The start will be done with the hiring of three engineers, but the goal is to “scale the team up to 10/15 people,” which “will happen as soon as possible“, assured the person responsible for Portugal.
Asked about other plans for Portugal, Belford admitted that Porto enters the list of “excellent targets“.
At the end of August, the startup reported receiving $ 20 million in funding in a round co-led by Atresmedia, the maker of the Casa de Papel series, and Labtech, a real estate company with a focus on technology.
The financing round was also attended by investors Accel Partners and 14W Ventures, as well as Portugal Ventures and Caixa Capital.
