SAN FRANCISCO (CelebrityAccess) — Self-service ticketing and event platform Eventbrite revealed that ticket sales and revenue were on the upswing as the company emerges from a post-pandemic funk.
According to Eventbrite, the company recorded revenue of $55.9 million for the first fiscal quarter of 2022, up 76% year-over-year propelled by the return of in-person events.
During the same period, Eventbrite saw the volume of paid ticket sales increase by 76% year-over-year as in-person events began to take off again.
Adjusted earnings before interest, taxes, depreciation and amortization still was in the red for Eventbrite in Q1 with a loss of $8.5 million, a substantial improvement from losses of $119.6 million during the same time frame in 2021.
Overall, Eventbrite recorded a net loss of $84.9 million in the first quarter compared with a net loss of $146.5 million in the first quarter of 2020.
“Eventbrite has started the year with great execution on our product-led strategy. Paid ticket volume and the number of events on our platform continued to show strong year-over-year growth as we provided creators with the right tools to grow their reach,” said Julia Hartz, Eventbrite co-founder and Chief Executive Officer. “Looking ahead, we will keep moving swiftly to meet the needs of our customers. Our product roadmap, and our whole team, are focused on helping creators launch and market their events to capture the strong consumer demand for live experiences.”