The eBay-owned resale site has spoken of its wish to help Australian promoters "get more people into stadiums" by taking on a share of the ticket distribution
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Global live industry strength and the positive effects of its Ticketbis acquisition continue to be felt at StubHub, which turned over more than $210m in the first quarter
By IQ on 21 Apr 2017
StubHub’s turnover grew 18% in the first three months of 2017, reveal newly released first-quarter (Q1) results by parent company eBay.
Revenues topped US$210 million, aided by “strength in international markets with the integration of the Ticketbis acquisition“, as well as new secondary ticketing agreements with the Los Angeles Angels and Toronto Blue Jays, while the value of sales, or gross merchandise volume (GMV), grew 6% year on year to $916m.
As a whole, eBay – comprising its flagship marketplace business, StubHub and its classified ads platform – increased revenue 4%, to $2.2bn, and GMV 2%, to $20.9bn.
“The first quarter was a strong start to the year, with accelerating growth in active buyers, revenue and our core US business,” comments eBay president and CEO Devin Wenig. “We are on the right path as we continue to evolve our shopping platform for consumers, leverage our technology advantages and market a sharpened eBay brand globally.”
The business model of StubHub, the world’s largest resale site, is increasingly moving towards the less controversial primary ticketing sector, with the company earlier this month signing a major primary deal with Brazil’s Rock in Rio.
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