SAN FRANCISCO (CelebrityAccess) — Self-ticketing and event platform Eventbrite provided an operating update, indicating that there are starting to be some encouraging signs in the live events sector.
According to Eventbrite, paid tickets grew by 17% in August over the previous month, propelled by a 26% increase in tickets to in-person events, while paid tickets grew by 25% in July when measured against the previous month.
However, the underlying picture of life amid the coronavirus is still grim. Eventbrite reported that in August paid ticket volume declined 65% year-over-year, though 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.”
As well, Eventbrite revealed that their total chargeback and refund losses since early March have been limited to $4.1 million and they have reduced their advance payout balance by $14m since early August.
The total advance payout balance is $230M, which the company attributes to initiatives such as event credits and communication with consumers during the pandemic, while creators have rescheduled their events for 2021 and have funded the majority of attendee refund requests on their own, Eventbrite said.