Vivid Seats Reports Revenue Increase, Net Income Decline in 2024 Financial Report

Ticket marketplace Vivid Seats (NASDAQ:SEAT) revealed its fourth quarter and full-year financial earnings report for 2024, showing an increase in revenue, yet decline in net income.

The business reported that its revenues increased by nearly 9% to $775.6 million from the same period last year, though its net income was down 87% from 2023 to $9.43 million. Other key results include a decrease in profit margin by 11% from last year of 1.2%, as well as an Earnings Per Share (EPS) of $0.072, a decrease from $.80.

Vivid Seats expects its revenue to grow 4.5% p.a. on average during the next three years, compared to an overall 9.6% growth forecast across the entertainment industry.

Chief Executive Stan Chia noted in a statement that “we are encouraged by the performance of our investments that continue to drive differentiation and efficiency in our marketplace.”

“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.”

Chia also touched on the company’s new partnership with United Airlines, “where we are leveraging our infrastructure and tapping into new audiences.”

As of Tuesday afternoon, Vivid Seats’ stock price is $2.72.