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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) and Hopper released a report on travel trends and ticket pricing for the Big Game. Vivid Seats predicts a 62% crowd advantage for the Philadelphia Eagles over the Kansas City Chiefs, with average ticket prices at $6,434. The best entry ticket is priced at $4,438. In terms of travel, round-trip airfare is averaging $491, with Philadelphia's tickets at $693 and Kansas City's at $478. Hotel rates in Phoenix are around $600 per night. Following playoff games, flight searches surged by 169% from Philadelphia and 61% from Kansas City, indicating strong demand.
Vivid Seats Inc. (NASDAQ: SEAT) has officially opened its new corporate headquarters in Chicago's historic Marshall Field building, marking a significant investment in its workforce and the local tech sector. The renovated 48,000 square foot space features collaborative workspaces and modern amenities, reflecting Vivid Seats' focus on innovation. The company has achieved record revenues since entering public markets and earned accolades for workplace culture. Leaders express pride in the investment, highlighting the company's potential for continued growth within Chicago's tech landscape.
Vivid Seats Inc. (NASDAQ: SEAT) released its annual "Year in Live Events" report, highlighting Harry Styles as Artist of the Year and Kevin Hart as Comedian of the Year. The report showcases ticket sales data from 2022, awarding the Niners Nation Fanbase of the Year for its passionate support during the NFL season. Additionally, Vivid Seats predicts top entertainment cities for 2023, naming Denver for sports, Austin for music, Boston for theater, and Las Vegas for comedy. The report emphasizes the resurgence of live events, showing growing fan engagement across genres.
Vivid Seats has announced significant upcoming presentations by its leadership. Chief Financial Officer Larry Fey will present at the RBC Capital Markets Global Technology Conference on November 15, 2022, at 12:50 p.m. ET. Meanwhile, Chief Executive Officer Stan Chia will present at the Credit Suisse Annual Technology Conference on November 30, 2022, at 4:20 p.m. ET. Both presentations will be accessible via live webcasts on the Vivid Seats Investor Relations website.
Vivid Seats reported strong Q3 2022 results with Marketplace GOV reaching $781.8 million, a 10% increase from Q3 2021, and revenues of $156.8 million, up 12%. The company generated a net income of $18.7 million, a significant turnaround from a net loss in the previous year. Adjusted EBITDA, however, declined by 33% to $28.3 million. Vivid Seats raised its guidance for Marketplace GOV and revenues for the year, projecting them to range from $3.05 billion to $3.20 billion and $580 million to $595 million, respectively.
Vivid Seats Inc. (NASDAQ:SEAT) will announce its third quarter 2022 financial results on November 8, 2022, before the market opens. A management webcast is scheduled for 8:30 a.m. ET on that day. The company continues its commitment to connecting fans with live events through its technology platform, emphasizing its extensive selection of tickets and its Vivid Seats Rewards program, which incentivizes purchases. The report will provide insights into the company's financial health and performance in a competitive ticketing industry.
Vivid Seats Inc. (NASDAQ: SEAT) launched its first brand campaign, partnering with 72andSunny LA, focusing on the number 11 to promote its Vivid Seats Rewards program. The campaign offers a free 11th ticket for fans who purchase 10, enhancing fan engagement with sports, music, and theater. Notably, Vivid Seats will sponsor the bonus 11th play on ESPN's 'SportsCenter' Top Ten series. Additionally, the campaign includes digital spots and partnerships with influential brands like Rolling Stone and Bleacher Report, aimed at showcasing the unique loyalty program and its benefits.
Vivid Seats Inc. (NASDAQ: SEAT) has announced that CEO Stan Chia will present at Evercore ISI’s Technology Conference on September 7, 2022 at 3:45 p.m. ET and at Goldman Sachs’ Communacopia + Technology Conference on September 13, 2022 at 12:15 p.m. ET. Both presentations will be accessible via live webcasts on the Vivid Seats Investor Relations website.
Founded in 2001, Vivid Seats connects millions of buyers to ticket sellers for numerous live events, promoting an extensive range of ticket options and an industry-leading rewards program.
Vivid Seats has launched its Fan Forecast for the 2022 NFL season, utilizing proprietary data to predict crowd compositions at key matchups.
For Week 1, significant estimates include the Raiders at Chargers with a 75%-25% fan ratio favoring the Raiders and the Seahawks versus Broncos at 70%-30% favoring Seattle.
Vivid Seats reports a noticeable rise in traveling fans, with only 75% favoring home teams in 2021 compared to 87% in 2017. Their new app, Vivid Picks, enhances gaming experiences with real money predictions.
Vivid Seats Inc. (NASDAQ: SEAT) reported strong financial results for Q2 2022, with a Marketplace Gross Order Value (GOV) of $814.8 million, up 18% year-over-year, and revenues of $147.7 million, reflecting a 28% increase. Net income surged 810% to $24.1 million, although Adjusted EBITDA fell 16% to $30.3 million. The company raised its 2022 financial outlook for Marketplace GOV, revenues, and Adjusted EBITDA, driven by strong demand and operational strength amidst event cancellations totaling $14.7 million in Q2.
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