StubHub has benefited from a resurgence in the live events market in the years following the Covid-19 pandemic lockdowns. Sales have also boomed from massively popular shows such as Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour, as well as sporting events such as the Super Bowl.
The company said in its updated prospectus filed last month that those sorts of events can also make StubHub’s revenues lumpy and difficult to predict.
In the first quarter, StubHub reported revenue growth of 10% from a year earlier to $397.6 million. Its net loss widened to $35.9 million from $29.7 million a year ago. Gross merchandise sales, which represent the total dollar value paid by ticket buyers, reached $2.08 billion in the three months that ended March 31.
StubHub primarily generates revenue from connecting buyers with ticket resellers. More than 40 million tickets were sold on StubHub’s marketplace last year from roughly one million sellers, the company said in August.
It competes with Vivid Seats, which was taken public via a special purpose acquisition company in 2021; SeatGeek; and Ticketmaster parent Live Nation Entertainment.
The Federal Trade Commission is in the advanced stages of probing Ticketmaster over whether it has done enough to keep automated bots from circumventing its per-person ticket limits for popular events, Bloomberg reported Monday, citing people familiar with the matter.
The FTC in May sent a warning letter to StubHub saying it must comply with the agency’s “junk fees” rule, and alleging some of its ticket listings failed to display the total price, including all mandatory fees and charges.
Madrone Partners is StubHub’s largest investor with ownership of 24.5% of Class A shares prior to the offering. WestCap is second at 12.3%, followed by Bessemer Venture Partners at 8.8%.
StubHub has benefited from a resurgence in the live events market in the years following the Covid-19 pandemic lockdowns. Sales have also boomed from massively popular shows such as Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour, as well as sporting events such as the Super Bowl.
The company said in its updated prospectus filed last month that those sorts of events can also make StubHub’s revenues lumpy and difficult to predict.
In the first quarter, StubHub reported revenue growth of 10% from a year earlier to $397.6 million. Its net loss widened to $35.9 million from $29.7 million a year ago. Gross merchandise sales, which represent the total dollar value paid by ticket buyers, reached $2.08 billion in the three months that ended March 31.
StubHub primarily generates revenue from connecting buyers with ticket resellers. More than 40 million tickets were sold on StubHub’s marketplace last year from roughly one million sellers, the company said in August.
It competes with Vivid Seats, which was taken public via a special purpose acquisition company in 2021; SeatGeek; and Ticketmaster parent Live Nation Entertainment.
The Federal Trade Commission is in the advanced stages of probing Ticketmaster over whether it has done enough to keep automated bots from circumventing its per-person ticket limits for popular events, Bloomberg reported Monday, citing people familiar with the matter.
The FTC in May sent a warning letter to StubHub saying it must comply with the agency’s “junk fees” rule, and alleging some of its ticket listings failed to display the total price, including all mandatory fees and charges.
Madrone Partners is StubHub’s largest investor with ownership of 24.5% of Class A shares prior to the offering. WestCap is second at 12.3%, followed by Bessemer Venture Partners at 8.8%.