Stubhub increases revenue 20% over last year
Giant ticketseller Stubhub’s growth has expanded 20% this year as compared to last year according to Reuters. The eBay subsidiary has seen its second quarter sales increase drastically this year and expects another potential 20% increase to take place this year as well. Although ticket prices have generally gone down, ticket volume has gone up. Concert tickets have gone on a downward trend but tickets for sports like basketball have had high demand. The results are surprising since the primary ticket market sales have gone down between 5-10% this year.
Stubhub attributes this growth to high demand for sporting events in big cities, especially playoff bound teams such as the chicago Blackhawks, Los Angeles Lakers, and Boston Celtics.
Stubhub’s marketing methods along with its strong affiliate base also continue to yield great results. Stubhub’s easy to navigate website, along with their “fan protection guarantee” can also be attributed to its strong growth. Their “fan protection” guarantee states: tickets will be received in time, tickets are authentic, you will receive what is stated or better, and money will be refunded if an event is cancelled. Stubhub also has recently implemented mobile phone applications for sites such as ESPN that allow even easier integration for fans to purchase tickets.
Chris Tsakalakis, president of StubHub says ticket resales are great for fans. A quote in Huffington Post stated ““The ticket resale market creates opportunities for many more fans to attend an event.” The resale market has allowed many users who do not have the opportunity to attend events for unforeseen reasons, to make some of their money back. It also allows others who are looking to capitalize for a profit according to the law of supply and demand.
On the web:
Stubhub – Stubhub’s site to purchase tickets
Stubhub fan code - Site to find potential promo codes.
