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Vivid Seats Inc. (NASDAQ: SEAT) is the largest independent online ticket marketplace, specializing in connecting fans with live events. Founded in 2001 and headquartered in Chicago, Vivid Seats provides tickets for a wide variety of live events, including sports, concerts, theater, and comedy shows across the United States, Canada, and Japan. The company operates in two primary segments: marketplace and resale.
Core Business: As the official ticketing partner for several major entertainment brands, such as ESPN and Rolling Stone, Vivid Seats facilitates an unmatched ticket-buying experience through its innovative fan-to-fan selling platform. The company's longstanding relationships with certified ticket resellers ensure a secure and seamless transaction process for both buyers and sellers.
Recent Achievements: Vivid Seats has continually demonstrated its ability to innovate and grow. The company recently secured a partnership with Stockperks, providing exclusive perks to shareholders, including discount codes and game center tokens. Furthermore, Vivid Seats has been recognized by Built In as one of the Best Places to Work for three consecutive years, showcasing its commitment to a positive work environment and employee satisfaction.
Financial Condition: Vivid Seats has consistently shown robust financial performance. In 2023, the company achieved significant operational and financial milestones, setting a strong foundation for durable growth. Key performance indicators for 2023 reflect a successful year, with further growth anticipated in 2024 as indicated by their Q1 projections.
Partnerships and Products: Vivid Seats has formed strategic partnerships with iconic brands like ESPN, Sports Illustrated, and the Los Angeles Dodgers, enhancing its market presence. The company's proprietary technology and software not only drive its ticketing ecosystem but also power its daily fantasy sports app, Vivid Picks.
Customer Experience: Vivid Seats is committed to providing exceptional customer service, which has been recognized by Newsweek as one of America's Best Companies for Customer Service in ticketing. Their industry-leading rewards program allows fans to earn on every purchase, further enhancing the overall customer experience.
For more information, visit Vivid Seats.
Vivid Seats (NASDAQ: SEAT), a leading ticket marketplace platform, has announced its participation in the Raymond James 2024 TMT & Consumer Conference. CEO Stan Chia will deliver a presentation on Tuesday, December 10, 2024, at 9:20 a.m. ET. The presentation will be available via live webcast on the company's Investor Relations website under the News & Events section. Vivid Seats connects millions of buyers with thousands of ticket sellers across hundreds of thousands of events annually through its technology platform.
Vivid Seats (NASDAQ: SEAT) reported Q3 2024 financial results showing mixed performance. Marketplace GOV declined 13% to $871.7 million, while revenues decreased 1% to $186.6 million. Net income fell 43% to $9.2 million, though Adjusted EBITDA improved 2% to $34.1 million. The company faced headwinds from concert supply and venue/artist mix, leading to revised 2024 guidance. The company lowered its full-year outlook, now expecting Marketplace GOV of $3.8-4.0 billion, revenues of $760-780 million, and Adjusted EBITDA of $145-155 million.
Vivid Seats (NASDAQ: SEAT) has been named to Newsweek's America's Best Customer Service 2025 list in the Ticketing category. The recognition follows an independent survey of over 28,000 U.S. customers, resulting in more than 200,000 evaluations across 163 categories. The assessment was based on factors including recommendation likelihood, communication quality, professional competence, and service range. This marks Vivid Seats' fifth recognition by Newsweek. The company was also recently named to Fast Company's World's Most Innovative Companies of 2024. Vivid Seats stands out as the only leading US ticket company offering a rewards program, allowing fans to earn loyalty rewards redeemable for ticket credits.
Vivid Seats (NASDAQ: SEAT) has appointed Adam Stewart to its Board of Directors, effective November 1, 2024. Stewart, currently Vice President of Consumer, Government & Entertainment at Google, brings nearly two decades of experience and will also serve on the company's Nominating and Corporate Governance Committee. He succeeds Tom Ehrhart, who is departing after three years. The appointment marks Vivid Seats' transition to having a majority independent Board in compliance with Nasdaq rules. Stewart's extensive background includes leadership roles at Google and Discovery Communications, where he oversaw national sales strategies for various networks.
Vivid Seats (NASDAQ:SEAT), a leading ticket marketplace platform, has announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024, before market open. The company will host a management discussion webcast at 8:30 a.m. ET on the same day. Investors can access both the live webcast and replay through the company's investor relations website.
Vivid Seats Inc. (NASDAQ: SEAT) has announced new feature upgrades to its Game Center, an in-app free-to-play product. The enhancements include:
1. 'Leagues': A new group play option allowing fans to create leaderboards and invite friends to compete.
2. Weekly NFL ticket giveaways: Players can win free NFL tickets each week (up to $950 in value).
3. Enhanced 'Pick It' game: NFL-themed weekly game running from season start to playoffs.
4. Expanded 'Trivia' game: Daily challenges across entertainment categories with chances to win event tickets.
The Game Center aims to reward football fandom and increase user engagement within the Vivid Seats app, potentially driving ticket sales and customer loyalty.
Vivid Seats Inc. (NASDAQ: SEAT) has announced an exclusive multiyear media partnership with I Am Athlete (IAA), the athlete-led media platform founded by Brandon Marshall. The partnership, launching with the 2024 NFL Season, includes:
- Exclusive content featuring athletes and celebrities
- Advertising and sponsorship rights
- Live event experiences
Key elements of the collaboration include:
- A new custom segment called "Keep it Live" on IAA's "I Am Athlete Daily" show
- Promotion of Vivid Seats through native mentions and sponsored content
- Exclusive ticket packages and VIP fan experiences
- Relaunch of IAA's "On The Go" series with a 42-foot tour bus
Vivid Seats Inc. (NASDAQ: SEAT) has released its 2024 NFL Fan Loyalty Report, offering insights into fan behavior and team popularity. Key findings include:
1. The Houston Texans saw the largest year-over-year increase in average ticket prices at 132%.
2. San Francisco 49ers fans show the strongest road presence, averaging 48% of the crowd at away games.
3. Las Vegas Raiders fans travel the farthest, averaging 549 miles per away game.
4. The Dallas Cowboys have the most widespread fan base, claiming 279 counties across multiple states.
The report also highlights Vivid Seats Rewards program, offering fans discounts, upgrades, and other perks for their loyalty.
Vivid Seats Inc. (NASDAQ: SEAT) reported strong Q2 2024 results with revenues of $198.3 million, up 20% year-over-year. The company's Marketplace Gross Order Value (GOV) increased 5% to $998.1 million. Despite this growth, Vivid Seats reported a net loss of $1.2 million, down from a net income of $38.3 million in Q2 2023. However, Adjusted EBITDA saw a significant 42% increase to $44.2 million.
The company updated its 2024 financial outlook, now anticipating Marketplace GOV between $4.0-$4.3 billion, revenues of $810-$830 million, and Adjusted EBITDA of $160-$170 million. Vivid Seats also refinanced and upsized its term loan, reducing interest rates and adding $125 million to its cash balance.
Vivid Seats Inc. (NASDAQ: SEAT), a leading ticket marketplace, has announced its participation in Canaccord Genuity's 2024 Growth Conference. The company's CEO, Stan Chia, and CFO, Lawrence Fey, will be presenting on Tuesday, August 13, 2024, at 11:30 a.m. ET.
Vivid Seats connects millions of buyers with thousands of ticket sellers across hundreds of thousands of events annually through its technology platform. Investors and interested parties can access a live webcast of the presentation on the Vivid Seats Investor Relations website under the "News & Events" section.
This participation in the growth conference provides an opportunity for Vivid Seats to showcase its business model and growth strategies to potential investors and industry analysts.
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