Online ticket marketplace Vivid Seats has partnered with Klarna, a financial technology company based in Stockholm, to allow fans to spread the cost of their ticket purchases.
Later this year, customers purchasing tickets from Vivid Seats will have the choice of splitting the cost of their ticket order into four interest-free payments through Klarna.
Stan Chia, chief executive of Vivid Seats, said: “Life happens live – at Vivid Seats, our goal is to help every fan enjoy the thrill of live events. Our partnership with Klarna will give even more of our customers the convenience they need to experience live music, sports, and theatre in the stadiums, clubs and arenas across the country.”
Klarna recently released a Reopening Insights Report, which found that 69% of consumers planned to attend in-person events in the next six months.
It also found that 70% are willing to spend more money than they would prior to the COVID-19 pandemic to attend live events.
David Sykes, head of North America at Klarna, added: “It’s no shock that we’re seeing a lot of pent-up demand for customers to attend live concerts and events again. We’re excited to partner with Vivid Seats to enable millions of fans to purchase their tickets with flexibility and reconnect with their favourite artists and sports teams in person.”
Vivid Seats released its financial results in August, and saw a return to profit in the second quarter of its financial year. The return of fans, concert goers and spectators resulted in a jump in revenue following the pandemic.
For the three months to June 30, revenue equalled $115.5m (£84.27m/€98.42) compared to a $28.9m loss in the same period in 2020.
Klarna, which was founded in 2005, works with global brands including H&M, Samsung, ASOS, Nike and IKEA.