Gametime saw a 220% surge in revenue during 2016 as its app met the demands of customers increasingly looking to buy their tickets just ahead of events.
The San Francisco-based company described a “banner year” in which it covered 5,000 sports and entertainment events. That was 10 times more than in 2015.
Its app was downloaded more than two million times over the course of the year, while five of the top 10 grossing events in its history took place in Q4 2016.
Gametime also said the recent injection of $20m though Series B funding means it has now raised $33m, which “position[s] Gametime well for its short road to profitability”.
“We are extremely pleased with the progress we’ve made in 2016, but it’s just the beginning as we continue our mission to enable the easiest access to live events at the last minute,” said Gametime founder and chief executive Brad Griffith.
Gametime said 75% of tickets sold on the mobile app in 2016 occurred within seven days of the event. It recently said it was selling 30% of tickets on the actual day of events.
The company added that it was responsible for selling the final ticket for the final game of this year’s World Series, with a user securing their entry 15 minutes after the Cubs-Indians match had begun at roughly 50% off the average price of the day.
It said it was energised by technological developments over the course of the year, most notably features that improve user experience.
It said: “Gametime continued to drive product innovation, introducing key features like its Snap & Sell and Connect. Snap & Sell enables fans to quickly take photos of any tickets they have and upload immediately to the Gametime marketplace. Connect introduced a prospective social network marketplace for fans to see what events their friends may be attending, where they are seated, and potentially join them by purchasing the nearest available seats.”
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