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In the wake of coronavirus-related lay offs, Eventbrite founders state the company is not pivoting away from music and will continue to serve the independent sector
By IQ on 17 Apr 2020
In a month that saw San Francisco-based event management and ticketing company Eventbrite lay off 45% of its staff, including many in its music division, the company’s founders have stated that they are not intending to pivot away from music.
The layoffs, which affected 500 employees, form part of a $100 million coronavirus cost-cutting plan and were carried out due to “the unprecedented shutdown of the global economy”, according to Eventbrite CEO Julia Hartz.
In response to reports that the company’s music division was particularly hard hit by the money-saving measures, Hartz told Billboard: “We are not planning to exit music and we’re committed to serving independent creators,” adding, “can you imagine our country without independent live music venues?”
“We are not planning to exit music and we’re committed to serving independent creators”
Hartz states that Eventbrite is using this time to “double down” on improving its platform, adding that the company “has always had a self-service ethos”.
In 2019, almost 950,000 event organisers used the Eventbrite platform, in a year that saw net revenue increase by 12% from the year before to $327m.
The company’s 2017 acquisition of former competitor Ticketfly aimed to create a “powerhouse” for independent venues and promoters, although Eventbrite encountered some issues relating to the integration of the platform, which was completed late last year.
Ticketfly co-founder Andrew Dreskin, stepped down from his role as Eventbrite Music president in May 2019 and stayed on in an advisory role, although reports suggest he may have now departed the company completely, following a pitch to buy back Ticketfly’s assets.
Photo: JD Lasica/Flickr (CC BY 2.0) (cropped)
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