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Vivid Seats Inc. helps fans buy tickets to concerts, sports and theater, handling payment, ticket delivery and customer service for sellers. Its Marketplace business generates most of its revenue without owning the tickets it sells: buyers pay service and delivery fees when they order. It also arranges hotel-room and package bookings.
Most Marketplace revenue comes through its own properties, including the Vivid Seats app and website, Las Vegas-focused Vegas.com and Japan-based Wavedash. Distribution partners also offer tickets to their customers using Vivid Seats’ technology and fulfillment services. A smaller, separate Resale business buys tickets and sells them on secondary marketplaces, including its own, rather than simply connecting buyers and sellers.
Substantially all sales occur in the United States. The business depends on live events taking place, fans choosing to spend on attendance, and sellers and partners continuing to supply tickets and orders. Google and other search engines are important sources of customer traffic, while a single payment processor handles payments associated with nearly all revenue. Ticket resale also depends on what local laws and event rights holders permit: price caps, transfer bans and restrictions imposed by primary ticketing companies can limit the tickets available for resale.
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Vivid Seats also competes with SeatGeek and TicketNetwork, absent from this list, for live-event ticket buyers, sellers and partners.
StubHub Holdings competes with Vivid Seats for fans buying resale tickets and sellers listing them; Vivid Seats connects the two sides and charges buyers service and delivery fees. Watch StubHub’s ability to retain sellers and offer a broad ticket selection, which helps it attract the same buyers.
Live Nation competes with Vivid Seats through ticketing, while its concert promotion business earns money from ticket buyers whose live-event demand also supports Vivid Seats’ transaction fees. Watch its concert ticket sales for a read on demand behind Vivid Seats’ concert revenue.
Liberty Live Holdings shares Vivid Seats’ exposure to concert and ticket demand through its approximately 30% stake in Live Nation as of December 31, 2025, rather than through a ticket marketplace of its own. Live Nation’s concert ticket sales are the demand signal to watch: it earns money from attendees, while Vivid Seats collects fees for arranging ticket purchases.
Madison Square Garden Entertainment depends on the concert and theater audiences that also drive Vivid Seats’ ticket transactions, earning money chiefly by charging promoters to use its venues and by producing live shows. Its concert and theater attendance offers a view of demand behind those two Vivid Seats revenue lines.
Madison Square Garden Sports sells Knicks and Rangers home-game tickets to fans, while Vivid Seats earns fees from fans buying live-sports tickets on its marketplace, giving both exposure to sports ticket demand and pricing. Watch its single-game ticket prices, which it adjusts during the season to match fan demand.
Fed Interest Rate Decision
Vivid Seats pays floating interest on its $393.0 million first-lien loan, so the Fed’s policy-rate decision matters because it can shift borrowing costs and cash available for debt service.
Expected4.0%Last release4.0%
If it comes in above expectations
If the Fed sets rates higher than expected, higher market rates can raise the loan’s interest expense and leave Vivid Seats with less cash for debt service and other needs.
If it comes in below expectations
If the Fed sets rates lower than expected, lower market rates can reduce the loan’s interest expense and leave Vivid Seats with more cash for debt service and other needs.
Madison Square Garden Sports Corp. earningsMSGS
MSG Sports’ single-game ticket prices will show whether Knicks and Rangers demand supports pricing, offering a read on the sports-ticket market where Vivid Seats charges buyers fees.
Read single-game prices alongside any attendance or ticket-sales information the report provides. Prices holding while fans keep attending would suggest event demand supports pricing, a firmer backdrop for Vivid Seats’ sports-ticket transactions; price cuts or weaker attendance would point to less pricing power or softer fan demand, a weaker signal for that marketplace.
Live Nation Entertainment Inc. earningsLYV
Live Nation’s concert ticket sales will show whether fans are buying live events, demand that can also drive Vivid Seats’ ticket transactions and buyer fees.
Use Live Nation’s concert ticket sales as a demand signal, not as a direct measure of Vivid Seats’ resale marketplace: Live Nation promotes shows and sells primary tickets. Stronger sales would show fans are still buying live events, supporting the demand behind Vivid’s concert transactions and buyer fees; weaker sales would signal pressure on that potential source of activity.
Vivid Seats Inc. earningsThis company
Vivid Seats’ report will show whether its ticket marketplace can steady orders and revenue, and whether the costs of serving and attracting buyers are moving with transaction volume.
Read Marketplace order volume and revenue alongside contribution margin—the amount left after cost of revenue and marketing and selling expenses. Orders recovering while contribution margin holds would show that more transactions are bringing in revenue without materially squeezing what remains; orders falling further as the margin narrows would show that marketplace activity is still weak and revenue is covering less of the cost of attracting and serving buyers.
StubHub Holdings, Inc. earningsSTUB
StubHub’s seller retention and ticket selection will show how strongly it can attract the same buyers as Vivid Seats, revealing the competition between their resale marketplaces.
Read seller retention alongside the breadth of tickets available. Sellers staying and selection remaining broad make StubHub more attractive to buyers, increasing the pressure on Vivid Seats to win the same customers; sellers leaving and selection narrowing may ease that rivalry, but could also mean fewer resale tickets for either marketplace to match with buyers.
