Spanish social marketplace for live music Wegow has reported a 135 per cent increase in revenue in 2019, with a turnover of €25.4m.
The platform, which helps customers discover concerts, socialise with other music lovers and buy tickets, saw over 28.3 million unique users in 2019.
Wegow, which operates in 18 countries besides Spain, attributes its successful year to the growth of its different lines of business and internationalisation.
Ticketing on the platform continued to grow, with over one million concert and festival tickets sold via Wegow in 2019, a rise of 116% from 2018.
José María Ozamiz Salazar, company chief executive and co-founder, said: “We are extremely satisfied with the 2019 results, which prove that we have a well-established and consolidated business in Spain. We have also been extremely well-received in Mexico and other Latin American countries.
“Based on this, we will continue to commit to Wegow’s internationalisation. However, beyond the good numbers, we believe it is very important to keep offering a live music platform that is complete, fast and secure, both for users and all other industry stakeholders. We will never stop seeking new formulas to achieve top-of-mind among live music fans.”
In 2019, Wegow opened offices in Mexico City in September, from where it supports all Latin American operations. It also has a presence in Argentina, Australia, Germany, Sweden, UK and US, among others.
Wegow currently has over two million registered users globally, with more than 18 million unique visitors in 2019, compared to five million the previous year.