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Ticketing co Lyte raises $33m in series-B round

San Francisco-based ticketing technology platform Lyte has raised US$33 million in a series-B funding round, bringing the company’s total amount raised to $48m.

Lyte, founded in 2013, says that the funding will allow it to continue its growth beyond the nearly 300 artist tours, festivals, venues and live events that use the firm’s technology. It raised $15m last October.

The ticketing technology enables fans to reserve, return and exchange tickets through its proprietary risk-free reservations system, which has been utilised by Coachella, as well as major tours with the likes of Mumford & Sons and Wilco.

Through its proprietary Always OnSale ticket reservation technology, fans can reserve tickets far in advance of an event’s traditional on-sale date and even before all of the event details are known – enabling artists and events to go to market and aggregate demand.

Joining as first-time Lyte investors are Chamath Palihapitiya’s Social Capital, music icon Quincy Jones and Rocketship VC.

“Our rapid and continued growth – despite the hardships that have hit the live events sector in 2020 – serves as a testament”

In addition, returning to the fund is Jackson Square Ventures, Accomplice, Correlation Ventures, Philip Deutch, Zander Lurie and digital media entrepreneur and Lyte board member, Rob Goldberg.

“We believe buying tickets should be no different from any other consumer purchase: fans should be able to support their favourite artists, venues and events without the worry of what to do with their tickets if their life plans change, nor should they be driven to the unregulated secondary market and learn to become amateur ticket scalpers just because they need their money back,” says Ant Taylor, Lyte founder and CEO.

“We have made consumer choice and flexibility in event ticketing a reality through an investment in technology and partnerships with all of the stakeholders in the events we work with: talent and their representatives, promoters, and venues,” continued Taylor.

“This approach allows us to build products that offer new ways for fans to safely and easily buy more tickets. Our rapid and continued growth – despite the hardships that have hit other parts of the live events sector in 2020 – serves as a testament to the ways our platform and philosophy are bringing better consumer experiences and business outcomes to all we deal with, and we anticipate bringing those benefits to millions of event-goers worldwide by the end of 2021.”

 


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Wisebuddah and Senbla team up for iconic performers

It has been announced today that award-winning audio content company Wisebuddah has signed a deal with London-based concert promoter Senbla. The deal will see the two companies team up to create exclusive audio content for upcoming concerts from Quincy Jones and Burt Bacharach.

On 27 June, Quincy Jones: A Life in Song will come to the O2 Arena. The concert will pay tribute to Jones’ extensive career in the year of his 85th birthday. Fans will also be treated to a series of guest appearances, including Jess Glynne, Mick Hucknall, Beverley Knight and Mark Ronson.

A week later, Burt Bacharach will take to the stage of the London Royal Festival Hall on 6 and 7 July for the first time in two years to honour his own 60 year-strong career. With eight Grammys, three Academy Awards and 48 top-ten songs, his promises to be another memorable concert.

On the opportunity to work with these artists, Adam Uytman, head of content at Wisebuddah, comments: “Quincy Jones and Burt Bacharach are, without doubt, two of the world’s greatest music icons.

“Capturing the live experience can be very challenging. Wisebuddah have outstanding credentials in this area, so are the perfect partner for us.”

“Understanding audio – whether it’s live or pre-recorded, for scheduled broadcast or on-demand consumption – means we have the expertise to create the best possible content from these live experiences.”

Beyond capturing the two concerts, Wisebuddah will create two programmes which will premiere on BBC Radio 2. Already very well acquainted with BBC Radio, Wisebuddah have worked with some of the broadcaster’s most highlyrated shows, including The Michael Ball Show, Claudia on Sunday and The Radio 2 Rock Show with Johnnie Walker. It has also built a successful portfolio of podcast work with BBC Radio, the Sun and the NHS.

Wisebuddah’s extensive portfolio of work was attractive to Senbla. Ollie Rosenblatt, managing director of Senbla explains: ““Capturing the live experience can be very challenging.

“Wisebuddah have outstanding credentials in this area, so are the perfect partner for us. We are looking forward to extending the reach of these seminal concerts, not only through the high-profile broadcasts on BBC Radio 2, but through other plans we have for the distribution of this unique and very special audio.”

 


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