Vivid Seats Releases Inaugural Environmental, Social and Governance Update
Vivid Seats (NASDAQ: SEAT) has released its inaugural Environmental, Social, and Governance (ESG) update, showcasing its commitment to responsible business practices. CEO Stan Chia emphasized the company's dedication to sustainability and ethical operations. Key initiatives include a focus on diversity and inclusion with a majority diverse leadership, community investments supporting organizations like Make-A-Wish, and a commitment to environmental sustainability that achieved a 54% reduction in single-use waste in 2022. The update highlights Vivid Seats' efforts in ensuring security and safety through robust policies and fraud detection measures.
- Majority diverse leadership team and board enhancing diversity, equity, and inclusion.
- 54% reduction in single-use waste in 2022, demonstrating commitment to environmental sustainability.
- Partnerships with philanthropic organizations like Make-A-Wish enhancing community investments.
- Strong fraud detection program ensuring platform security.
- None.
CHICAGO, March 30, 2023 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ: SEAT), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today published its inaugural Environmental, Social and Governance (ESG) update with its 2023 ESG Fact Sheet. Highlighting Vivid Seats’ recent and ongoing ESG initiatives, it reflects the company’s values, responsible business practices, and impactful investments in its employees and communities.
“I’m proud to share these metrics which are another important milestone for Vivid Seats and one that demonstrates our commitment to operating our business with environmental, social and governance principles in mind,” said Stan Chia, Vivid Seats CEO. “We are passionate about enabling exceptional experiences for all our stakeholders, whether they are a fan, seller, shareholder, partner or employee; and facilitating that experience in a sustainable, fair, and responsible manner. As a newly public company, we look forward to building on these important initiatives and sharing our continued progress.”
The 2023 ESG Fact Sheet outlines key initiatives including:
- Dedication to diversity and inclusion: Vivid Seats’ management and board guide ethical decision-making across the organization. Leveraging those diverse skillsets and backgrounds, the company is committed to fostering a workplace environment that is inclusive.
- Notably, Vivid Seats employs a majority diverse leadership team and a majority diverse board, both of which work together to raise the bar in terms of diversity, equity, and inclusion each year.
- Investment in its communities: Vivid Seats’ leadership is passionate about facilitating impactful experiences for its employees, with a culture built on empowerment and individuality. The company believes in the power of shared experiences to connect people and create change.
- Vivid Seats longstanding giving programs include partnership with philanthropic organizations like MusiCares, the Recording Academy’s charity, and Make-A-Wish®, the global organization responsible for creating life-changing wishes for children with critical illnesses.
- Commitment to environmental sustainability: Vivid Seats’ focus on efficiency initiatives and cost reduction opportunities has further reduced already its limited environmental footprint as an online marketplace.
- The company’s environmental stewardship efforts have led to a
54% decrease in single use waste in 2022.
- The company’s environmental stewardship efforts have led to a
- Responsibility to safety and security: Vivid Seats’ reliable and secure platform is backed by strong policies and procedures for conduct, cybersecurity, fraud and privacy that are endorsed by strong leadership.
- Vivid Seats’ comprehensive fraud detection program includes a dedicated team reviewing orders and listings for legitimacy, utilizing fraud prevention technologies to detect any potentially fraudulent activity.
To learn more about Vivid Seats’ ESG efforts, and to read the full Fact Sheet visit https://investors.vividseats.com/esg
About Vivid Seats
Founded in 2001, Vivid Seats is a leading online ticket marketplace committed to becoming the ultimate partner for connecting fans to the live events, artists, and teams they love. Based on the belief that everyone should “Experience It Live,” the Chicago-based company provides exceptional value by providing one of the widest selections of events and tickets in North America and an industry leading Vivid Seats Rewards program where all fans earn on every purchase. Vivid Seats has been chosen as the official ticketing partner by some of the biggest brands in the entertainment industry including ESPN, Rolling Stone, and the Los Angeles Clippers. Vivid Seats also owns Vivid Picks, a daily fantasy sports app. Through its proprietary software and unique technology, Vivid Seats drives the consumer and business ecosystem for live event ticketing and enables the power of shared experiences to unite people. Vivid Seats has been recognized by Newsweek as one of America’s Best Companies for Customer Service in ticketing. Fans who want to have the best live experiences can start by downloading the Vivid Seats mobile app, going to vividseats.com, or calling 866-848-8499.
Contacts:
Investors
Kate Copouls
Kate.Copouls@vividseats.com
Media
Julia Young
Julia.Young@vividseats.com
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