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Lyte acquires Festicket and Event Genius assets

The US-based ticketing exchange and technology firm says the acquisition represents "significant and immediate growth" for the company

By IQ on 28 Sep 2022

Pitchfork Music Festival is among Lyte's clients

Pitchfork Music Festival is among Lyte's clients


Ticketing exchange and technology firm Lyte has confirmed the acquisition of Festicket and Event Genius assets.

The firm says the acquisition represents “significant and immediate growth for Lyte, with a broad expansion of their services and team worldwide”.

London-headquartered Festicket, which acquired Event Genius and the associated Ticket Arena consumer website and brand in 2019, formally entered administration last week, with ReSolve Advisory Limited appointed to oversee the process.

Festicket and Event Genius worked with hundreds of festivals and events across the UK, EU, Australia and Latin America, including BPM Festival, Ibiza Rocks, Summer Daze and Annie Mac’s Lost & Found Festival.

The company has pledged to protect Festicket employees and find “ways to reconcile and rebuild with affected promoter clients”.

The news comes after Australian festival Borderline Music and Arts Festival (cap. 10,000) was cancelled due to the collapse of Festicket, which was its primary ticketing partner.

According to the company, many Festicket clients have begun signing with Lyte, including Slammin Events in the UK and Vic Falls Carnival in Zimbabwe. More signings across the United Kingdom, Europe and Australia are to be confirmed in the coming days.

“To be launching Lyte’s international expansion from the place where it all started, is truly special”

“Lyte’s success to date has been achieved by building a coalition of employees, ticketing companies, and event organisers who share the aspiration to make all aspects of going to a show as great as seeing the talent that graces the stage,” says Lawrence Peryer, Lyte’s chief commercial officer.

“With the assets we have acquired in this transaction – and all of the new team members in the UK, Europe and Australia who we welcome as part of it – we are bringing global opportunities to our existing employees and partners while extending an offer of access to our alternate universe to all promoters, ticket platforms and fans worldwide. The future of live events is here.”

Ant Taylor, Lyte’s CEO and founder, adds: “Ten years ago I visited London for the 2012 Olympic games. The events were sold out, there were no tickets on the streets but the venues were half-full. I was just a fan but that empty seats problem stuck with me and led me to start Lyte a couple years later. To be launching Lyte’s international expansion from the place where it all started, is truly special. Our company vision is to make the live events e-commerce experience magical for fans and event creators, the world over…This is a step in that direction. Now the real work begins.”

Lyte enables fans to reserve tickets without competing with other fans and brokers during on-sales, to return tickets if their plans change and to easily secure tickets to sold-out events.

The company says the results are fuller venues for talent and event stakeholders and a significant reduction in risk for fans of overpaying or being stuck with unusable tickets.

Lyte’s clients include North American festivals such as Life Is Beautiful, Pitchfork Music Festival, BottleRock and Baja Beach Fest.

 


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