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Ticketing marketplace Vivid Seats has revealed its financial report for the fourth quarter and full year of 2024 showing mixed results.
Although the company’s revenues increased by nine per cent to $775.6m (£599m/€714m), net income saw a significant decline of 87 per cent compared to 2023.
The business also reported a net loss of $4.4m for the fourth quarter which marks a contrast to the net income of $28.5m in the same period of the previous year.
Vivid Seats remains optimistic about the future, with expectations of returning to higher growth in the second half of this year.
“As we reflect on 2024, we are encouraged by the performance of our investments that continue to drive differentiation and efficiency in our marketplace,” said Vivid Seats chief executive Stan Chia.
“As we look forward, we remain confident in the long-term tailwinds driving North American live events and will continue making investments to drive long-term success.
“We also see attractive international growth trends and are pleased to announce we have kicked off our European launch as we continue to focus on expanding our global footprint.
“Lastly, we are excited about our robust partnership pipeline, which includes a new partnership with United Airlines where we are leveraging our infrastructure and tapping into new audiences.”
The report shows that the company is predicting revenues in the range of $730m to $810m for 2025 and marketplace GOV to range from $3.7bn to $4.1bn.
Last month, it was reported that Vivid Seats was exploring a sale after receiving interest from a potential buyer.
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