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App with unique concept being tested in the Valley

PHOENIX (KSAZ) -- An app with a unique concept could change the music industry.

It's no secret that a lot of big name performers come to the Valley, and big music festivals are also starting to pop up here. Tickets can be expensive, and some shows sell out quickly.

The Southern California-based app, called FlipTix, helps concertgoers re-sell their tickets and make some money, if they want to leave the event early, and it's being tested in the Valley.

"FlipTix is a fan-to-fan marketplace where fans that are attending an event that leave early have the ability to sell the remaining time on their tickets to awaiting fans that are outside or in proximity," said company president Brian Siegel.

Who would want to do that? According to Siegel, a lot of people.

"The research that we've done shows that nearly a third of all event attendees -- and this would be for music and sports -- nearly a third leave an event before the conclusion of an event," said Siegel.

On the flip side, who would be willing to show up to an event late? 20% of concert goers, according to the company's research. Siegel says it's a win-win for everyone, including concert venues and promoters, who not only can make some extra money, but also learn some valuable information.

"We provide them data that's related to what we call time sensitivity," said Siegel. "So, how long are people ready willing and able to stay at an event? When do they leave? When do they come back in? How many more beverages and food items do they buy?"

FlipTix launched earlier this summer, and their first partnership is with a venue in Srizona: BLK Live in Scottsdale. Currently, they teaming up for all weekend events.

Next month, FlipTix is doing its first music festival in California.