Eventbrite

Eventbrite Reports Ticket Sales Starting To Perk Up Again

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SAN FRANCISCO (CelebrityAccess) — Self-service event and ticketing platform Eventbrite reported on what may be the green shoots of recovery following the near total shutdown of the live events industry due to coronavirus.

According to Eventbrite, the company saw paid ticket volume in May increase by 33% from the previous month, led by a 67% month-to-month increase in paid ticket volume for live, in-person events.

While that sounds encouraging, Eventbrite tempered the news by noting that paid ticket volume for May was down by 87% when measured against May in 2019.

As of Tuesday, Eventbrite’s advance payout balance has been reduced by $26 million since early May with creators funding approximately 98% of advance payout refund volume to date.

Eventbrite noted that tickets to online event in May increased by 17% from the previous month and were up 19-fold from May 2019.

As well, Eventbrite noted that there are encouraging trends in refunds as creators with advance payouts have returned $87 million in ticket refunds since the APO program was paused in March. That represents more than 98% of the nearly 1.2 million APO-event tickets that have been refunded to date, Eventbrite said.

Consumer-initiated chargebacks related to APO-event tickets were $3.2 million as of early June 2020 compared to $2.5 million as of early May 2020.

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