Eventbrite has reported a 26 per cent growth in paid tickets to in-person events in August from July, with paid ticket sales increasing 17 per cent.
The 17 per cent growth builds on a 25 per cent rise in paid ticket volume from June to July, though sales are down 65 per cent year-on-year in August.
Eventbrite said that this decline marked an improvement from the second quarter, when paid-ticket volume plunged 82 per cent. The company said in its release that “many creators have rescheduled their events for 2021 and have funded the majority of attendee refund requests on their own.”
Julia Hartz, co-founder and chief executive of Eventbrite, said: “The growing activity on our platform reflects the enduring appeal of live events, as well as the ubiquity of the Eventbrite platform.
“More creators are leveraging Eventbrite’s self-service platform to deliver engaging live experiences through both online events and a growing number of the smaller, safer in-person gatherings. We are inspired by the resilience and ingenuity of our creators and remain committed to helping them succeed through and beyond the challenges presented by COVID-19.”
The San Francisco-based firm also said that event credits have “helped reduce the company’s advance payout balance to $230m,” and its “additional company-funded chargebacks and refunds” totaled less than $300,000 since the company last reported results in early August.
The company’s total chargeback and refund losses since early March have been $4.1m
In another positive sign for the firm, Eventbite has seen its share price steadily incline since crashing in March, reaching a high of $12.39, up from $5.86 on April 3.
In the early days of the COVID-19 pandemic, the company laid off around 500 employees, or 45 per cent of its staff, many from its music division, as part of a $100m cost-cutting plan.