Eventbrite upbeat as paid tickets increase 26%
Self-service ticketing specialist Eventbrite says it sold 26% more paid tickets to physical live events in August than July, demonstrating continued pent-up demand for safe in-person experiences.
In a September operating update for investors, the NYSE-traded company revealed total paid ticket volume grew 17% in August 2020, following a 25% increase from June to July. Year on year, sales are down 65% – an improvement on the 82% decline reported in the second quarter of 2020 (April–June).
“The growing activity on our platform reflects the enduring appeal of live events, as well as the ubiquity of the Eventbrite platform,” says Eventbrite co-founder and CEO Julia Hartz (pictured).
“The growing activity on our platform reflects the enduring appeal of live events”
“More [event] creators are leveraging Eventbrite’s self-service platform to deliver engaging live experiences through both online events and a growing number of the smaller, safer in-person gatherings. We are inspired by the resilience and ingenuity of our creators and remain committed to helping them succeed through and beyond the challenges presented by Covid-19.”
EB’s share price has been on a steady incline since crashing in March, reaching a high of US$12.39 at press time, up from $5.86 on 3 April.
The San Francisco-headquartered firm laid off around 500 employees, many from its music division, in the early days of the pandemic as part of a $100m cost-cutting plan, but later affirmed its commitment to live music.
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