Welcome to our dedicated page for Vivid Seats news (Ticker: seatw), a resource for investors and traders seeking the latest updates and insights on Vivid Seats stock.
Vivid Seats Inc is an online ticket marketplace connecting fans to live events and artists. It is the official ticketing partner of various entertainment brands offering tickets for sports, concerts, theaters, and comedy events in the US, Canada, and Japan. The company operates in two segments: marketplace and resale. Vivid Seats recently earned six placements on Built In's Best Places to Work list, highlighting their dedication to creating a positive work culture and empowering employees. CEO Stan Chia emphasizes the importance of inclusive, high-performance culture focused on empowerment, collaboration, and innovation. Additionally, Vivid Seats prioritizes sustainability and corporate responsibility in their business strategy, demonstrating commitment to exceptional experiences for all stakeholders. The company's 2024 ESG Fact Sheet showcases notable achievements in environmental, social, and governance efforts. Founded in 2001, Vivid Seats is dedicated to becoming the ultimate partner for live event experiences, offering a wide selection of tickets and industry-leading rewards program.
Vivid Seats reported a strong financial performance for full year 2021, achieving a Marketplace Gross Order Value (GOV) of $2.4 billion and revenues of $443 million. The fourth quarter saw record Marketplace GOV of $876.5 million and revenues of $163.9 million, despite challenges from COVID-19. The company also recorded a net loss of $19.1 million but improved its Adjusted EBITDA to $109.9 million. Looking ahead, Vivid Seats anticipates Marketplace GOV between $2.7 billion and $3.0 billion for 2022.
Vivid Seats Inc. (NASDAQ:SEAT) will announce its financial results for Q4 and full year 2021 on March 10, 2022, before the U.S. market opens. A management discussion will follow via webcast at 8:30 a.m. ET. As a leading online ticket marketplace, Vivid Seats connects buyers with ticket sellers for numerous events annually. The company is recognized for its customer service and offers a wide selection of events and tickets, alongside a unique rewards program.
Vivid Seats (NASDAQ: SEAT) has completed refinancing its credit facility, amending and extending its existing credit agreement. The company secured a new 7-year $275 million Term Loan B with an interest rate of SOFR + 3.25%, a reduction from the previous LIBOR + 3.50%. Additionally, Vivid Seats obtained a new $100 million 5-year First Lien Revolving Credit Facility, enhancing liquidity. CFO Lawrence Fey noted this refinancing improves financial flexibility, allowing for future growth investments.
Vivid Seats Expands Partnership with San Francisco 49ers
Vivid Seats Inc. (NASDAQ: SEAT), a leading ticket marketplace, has extended its multi-year partnership with the San Francisco 49ers to enhance fan experiences. Since 2017, Vivid Seats has served as the Official Fan Travel Experience Partner, and now also becomes the Official Gameday Fan Experience Partner. This includes exclusive travel packages and unique gameday experiences for fans, highlighting its commitment to delivering memorable live event experiences. The partnership coincides with the 49ers' NFC Championship Game appearance.
Vivid Seats (NASDAQ: SEAT) has renewed its partnership with ESPN, enhancing their digital integration and focusing on media outreach. As the Official Ticketing Partner, Vivid Seats will continue offering users access to a wide range of sporting event tickets. The relationship aims to provide a personalized ticket-buying experience utilizing Vivid Seats' technology. With ESPN's reach surpassing 150 million monthly users, the partnership is projected to drive significant growth for both companies. Vivid Seats has also launched a media campaign to promote its new brand identity across ESPN platforms.
Vivid Seats Inc. (NASDAQ: SEAT) celebrates the sale of its 100 millionth ticket with a $100,000 donation to MusiCares®. The milestone signifies Vivid Seats' substantial growth and strong consumer demand for live events. The company reported record third-quarter results, with $713 million in gross order volume, $140 million in revenue, and $42 million in adjusted EBITDA. Vivid Seats' technology platform connects buyers with sellers, enhancing the live event experience. The company continues to emphasize loyalty through its rewards program, offering 10% value back on ticket purchases.
Vivid Seats (NASDAQ: SEAT) announced its participation in two upcoming investor conferences. The first is the Citi 2022 AppsEconomy Virtual Conference on January 6, 2022, featuring a discussion with CEO Stan Chia and CFO Larry Fey at 10:00 AM ET. The second is the ICR Virtual Conference 2022 on January 11, 2022, at 1:00 PM ET, also with Chia and Fey. Live webcasts for both events will be available on Vivid Seats' Investor Relations page, ensuring access to financial insights.
Vivid Seats has finalized the acquisition of Betcha Sports for $25 million in equity, with potential earnouts of up to $40 million. This strategic move aims to integrate Betcha's gaming platform into Vivid Seats' technology, enhancing customer engagement through social gaming experiences. CEO Stan Chia emphasized that this acquisition expands their total addressable market and creates synergies with existing fan bases, allowing for innovative gaming opportunities tied to live events.
Vivid Seats (Nasdaq: SEAT) will participate in upcoming investor conferences, including the 2021 RBC Capital Markets Global Technology Conference on November 17 and the Credit Suisse 25th Annual Technology Conference on November 30. Executives Stan Chia and Lawrence Fey will take part in these events, discussing Vivid Seats' operations and strategy. Interested investors can access live webcasts through the Vivid Seats Investor Relations site. Vivid Seats is a top ticket marketplace, enhancing fan experiences across North America.
Vivid Seats reported robust Q3 2021 results with revenues of $139.5 million, a significant increase from negative $7.1 million in Q3 2020. The company achieved a Marketplace Gross Order Value (GOV) of $713.1 million, rising from negative $30.8 million year-over-year. Adjusted EBITDA soared to $42.0 million, compared to negative $19.5 million in the same quarter last year. Despite a net loss of $1.8 million, a notable improvement from $40.2 million, the company is optimistic about future growth, bolstered by a new branding strategy and enhanced customer rewards.
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