Eventbrite Provides September Operating Update
September 16 2020 - 7:30AM
Business Wire
Paid tickets grew 17% in August vs July, driven
by a 26% increase in tickets to in-person events
Advance payout balance reduced by $14 million
since early August
CEO and CFO to present at Goldman Sachs
Communacopia Conference
Eventbrite, Inc. (NYSE: EB), a global self-service ticketing and
experience technology platform, today provided an update on the
company’s event ticketing trends and advance payout program. The
month-on-month improvement in paid ticket trends the company
experienced throughout the second quarter continued into the third
quarter, as paid ticket volumes increased 17% in August compared to
July, on top of a 25% increase in July compared to June. The
improvement was primarily driven by growth in paid tickets to
in-person events, which increased 26% in August compared to July
and 50% in July compared to June. On a year-over-year basis, August
paid ticket volume declined 65%, improving from an 82% decline in
the second quarter of 2020.
“The growing activity on our platform reflects the enduring
appeal of live events, as well as the ubiquity of the Eventbrite
platform,” said Julia Hartz, co-founder and Chief Executive
Officer. “More 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.”
Throughout the summer and the peak of the festival season,
Eventbrite has provided critical assistance to customers, as
creators and attendees navigate a challenging environment. The
company launched initiatives designed to not only advocate for
creators, but also increase communication and flexibility with
consumers with new offerings such as Event Credits. These efforts
helped reduce the company’s advance payout balance to $230 million.
Many creators have rescheduled their events for 2021 and have
funded the majority of attendee refund requests on their own. Since
reporting second quarter financial results in early August,
Eventbrite's additional company-funded chargebacks and refunds
amount to less than $0.3 million. The company’s total chargeback
and refund losses since early March have been limited to $4.1
million.
Eventbrite’s scalable self-service platform continues to serve
the live events industry during the global pandemic, and the
company is committed to helping creators remain fully engaged with
their communities as it becomes safer to do so.
Goldman Sachs Communacopia Conference
As previously announced, Julia Hartz, Co-Founder & Chief
Executive Officer, and Lanny Baker, Chief Financial Officer, are
scheduled to participate today in a virtual fireside chat at the
Goldman Sachs Communacopia Conference at 2:05 p.m. Eastern time,
where they plan to discuss these and other trends in Eventbrite’s
business. A live webcast and replay of the fireside chat will be
available on the company’s investor relations website at
https://investor.eventbrite.com. The replay will be available for
90 days. Information on our website (including but not limited to
the webcast) is not incorporated by reference herein.
About Eventbrite
Eventbrite is a global self-service ticketing and experience
technology platform that serves a community of nearly one million
event creators in over 180 countries. Since inception, Eventbrite
has been at the center of the experience economy, transforming the
way people organize and attend events. The company was founded by
Julia Hartz, Kevin Hartz and Renaud Visage, with a vision to build
a self-service platform that would make it possible for anyone to
create and sell tickets to live experiences. The Eventbrite
platform provides an intuitive, secure, and reliable service that
enables creators to plan and execute their live and online events,
whether it’s an annual culinary festival attracting thousands of
foodies, a professional webinar, a weekly yoga workshop or a youth
dance class. With over 300 million tickets distributed to more than
4 million experiences in 2019, Eventbrite is where people all over
the world discover new things to do or new ways to do more of what
they love. Learn more at www.eventbrite.com.
Forward Looking Statements
This press release contains forward-looking statements,
including but not limited to statements regarding the company’s
interim operational performance and advance payout trends. These
forward-looking statements reflect the company’s views regarding
current expectations and projections about future events and
conditions and are based on currently available information. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and assumptions that are
difficult to predict, including risks related to the ongoing
COVID-19 pandemic and resulting worldwide cancellation of live
events, which had been the cornerstone of the company’s business,
and related uncertainty regarding the duration of the shutdown of
live events, the possibility that future shutdowns will occur and
uncertainty around the gradual reopening of the global events
economy, and the Risk Factors identified in the company’s most
recently filed quarterly report on Form 10-Q; therefore, the
company’s actual results could differ materially from those
expressed, implied or forecast in any such forward-looking
statements. Expressions of future goals and expectations and
similar expressions, including "may," "will," "should," "could,"
"aims," "seeks," "expects," "plans," "anticipates," "intends,"
"believes," "estimates," "predicts," "potential," "targets," and
"continue," reflecting something other than historical fact are
intended to identify forward-looking statements. Unless required by
law, the company undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise. However, readers should carefully
review the reports and documents the company files or furnishes
from time to time with the Securities and Exchange Commission,
particularly its annual reports on Form 10-K, quarterly reports on
Form 10-Q and current reports on Form 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20200916005323/en/
Ronald Clark investors@eventbrite.com
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