StubHub posted record financial results for the final quarter of 2016.
In figures released by the owner of online shopping marketplace eBay, the ticket service generated gross merchandise value (GMV) of $1.2bn (£950m/€1.1bn) during the three months to December 31. That was up five per cent on Q4 2015 and 8.5 per cent compared to Q3 2016.
StubHub said GMV is the total value of all successfully closed transactions between users on our during the period regardless of whether the buyer and seller actually consummated the transaction.
The firm added: “We believe that GMV provides a useful measure of the overall volume of closed transactions that flow through our platforms in a given period, notwithstanding the inclusion in GMV of closed transactions that are not ultimately consummated.”
StubHub’s net transaction revenue of $274m was up 18 per cent year-on-year thanks to a string showing in its baseball and theatre verticals. That figure was also up five per cent on the $261m posted in Q3.
In a call with investors, David Wenig, eBay’s chief executive, said: “Our StubHub platform continues to be well positioned as a leading global ticket marketplace. Q4 was also a record quarter for StubHub with strong MLB and theatre performance offset by lapping significant growth acceleration from last year and softer year-over-year NFL volume and a weaker concert landscape.
“Despite this quarter’s growth declaration, StubHub’s prospects in the US and internationally remained strong. I believe we can continue to maintain our market leading position in the US and our acquisition and ongoing integration of Ticketbis is driving significant international growth.”
eBay also acknowledged that the quarter saw StubHub’s launch on Apple TV, which “further advance[es] its efforts to enable consumers to buy event tickets anytime, and anywhere”.
Overall eBay delivered Q4 GMV of $22.3bn, increasing five per cent on a foreign exchange (FX) neutral basis and two per cent on an as-reported basis. Revenue for the quarter was $2.4bn, up six per cent on an FX-Neutral basis and three per cent on an as-reported basis.