Lyte, the San Francisco-based ticket exchange service, has partnered with Tickets.com and become a certified solution for partner venues.
Under the agreement, Lyte will have the opportunity to work with Tickets.com’s global client base who can utilise its technology platform to power ticket returns and official waiting lists.
By partnering with Lyte, participating venue clients can launch an online exchange. Resale prices are determined by an algorithm that monitors other websites and by stakeholders themselves. Resale money is divided between Lyte and the stakeholders, such as venues, promoters and artists.
“We are thrilled to have been certified by Tickets.com to provide Lyte’s state-of-the art services and platforms to its venue clients,” said Lyte founder and chief executive Ant Taylor. “Official waitlists and secure return opportunities provide benefits throughout the entire consumer experience journey that is a win-win for venues and patrons alike.”
Lyte has been integrated into other top primary ticketing companies including AEG’s Elevate, Live Nation’s Front Gate and Eventbrite, along with its Ticketfly subsidiary. As a platform, Lyte – founded in 2013 – claims 60 per cent of the $13bn secondary market for the events it powers.
Lyte offers customers who were unable to purchase primary market tickets the opportunity to buy tickets returned by original purchasers who ultimately can’t go. Customers seeking tickets may join an event’s official waitlist and customers whose plans have changed may securely return their purchased tickets.
Lyte’s ticketing partners, including participating Tickets.com’s venue clients, then issue new valid tickets with new barcodes to the next customer on the official waitlist.
“We work with great partners like Lyte to provide our venue clients with reliable, and certified, solutions to build from the Tickets.com platform and deliver excellence in customer service,” said Chris Farrrar, director, product and partner management, Tickets.com. “We’re very pleased to offer Lyte’s platform to our venue clients.”
In October, the San Francisco ticketing exchange secured $15m (£12.3m/€13.7m) in Series A financing, which it said would be used to drive development of the platform and scale operations.
Lyte’s partners include Coachella, BottleRock Napa Valley, Newport Folk Festival, and Mumford & Sons.