EB - Earnings call transcript Q1 2022

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Operator

Good afternoon, and thank you for standing by, and welcome to the Eventbrite First Quarter Fiscal Year 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to Ms. Katherine Chen, Head of Investor Relations. Please go ahead. and call. Eventbrite's afternoon, year quarter Good earnings XXXX Chen welcome first to fiscal Katherine this we on to results, investor.eventbrite.com. Prior call, which our letter can financial announcing be found our at released website our shareholder

we events such today's we and future statements or best during events factors on reflect could that Before currently you financial performance. statements that as making call, based I our actual to will to would XX, remind us future our begin, control. due We that forward-looking of and be April regarding like caution today, judgment materially of many which results beyond known differ are factors, to several are that

information to detailed For undertake circumstances Statements unanticipated law. uncertainties the events no or Forward-Looking to our any and the to obligation to update in new reflect discussion the statements made our and shareholder you call filings risks We required section after of SEC. by today a with except the the letter as titled or future more during affecting our occurrence or refer forward-looking reflect results, events, we of

prepared These adjusted financial this financial tool. analytical we non-GAAP adjusted measures Accepted measures. Principles with accordance During EBITDA limitations call, are margin, and EBITDA as an Generally present will not Accounting in have non-GAAP and

GAAP that, the over Co-Founder results Executive comparable operations reported letter GAAP non-GAAP directly important Officer. under about Hartz, We encourage as and turn You should reconciliation measure and as our you call not with analysis the consider it And letter. to contains them in in Julia our Chief most shareholder isolation of shareholder read to results. information for of GAAP. or as is a our substitute to available A financial I'll

Julia Hartz

back you Thank your get are you, again. been thrill events families and and hope us everyone I able and that to and of joining live out enjoy once you've Katherine healthy for today. the you, thank

products in made feeling the our them. progress connection confident look about our I the building we've strategy, increasingly the I'm first As at we're and for quarter, creators to

united build Our frequent to focus is creators. best entire and team platform around marketing singular for ticketing a the

creators in creators that then XX% increase helping and the And We we take needs to on Our tangible model paid improvements. uptick growth XX% numbers XX% revenue. by will as illustration's on the by continue few believe year-over-year. key investments. amplified feeling live we is creators grew to growth first that ongoing XXX% and to of momentum and average success increase and creators paid numbers converted in rate our takeaways. marketing and achieve of in even events platform with in Thanks impact platform of We product be frequent rebound. live paid our larger quarter a audiences. by connect on events and ticket advances the our Thanks transacting to an value our improved accumulating our into and recovery toward tickets tickets leveraged strength product them paid from a goal XX% sustainable business the focusing A of for

our when Now, why see and you strong excited expanding together revenue third our you our we're margins, with about quarter EBITDA, can positive that flywheel strategy gross combine adjusted of operating consecutive and leverage momentum.

beyond industry. our and strategy above several about. features the we nearly never Going anticipated. upgraded believe a quarter, usage is adopted start and third the the our this of new among within and by and had creators recovery half much We collections calendar at Boost, been and is that discovery customer more patterns first this we over delivering quarter known of this is popular customers We are help a have of of strengthen will simply quarter than rolled paid their January, improved Meanwhile, feature adoption these new advanced out premium premium user Boost and navigation new already email deeper, the retention Many creator impact introduced existing are and priced product deepening experience. experience this led reporting increasing, offering paid have more Since the functionalities a little during time. they have delivered we of just where as new proving subscribers wins be brand one drawn key as creators product to in email. highly reporting of

email creators XX% than over total the timeframe. has more campaign by Our increased same volume

in One he He of struggled Los right parties emails. his to the over sought strong alone. of to email our through featured Angeles email most after Live some premium tool, XX,XXX Prior a in for now. get rate weekly using producing has click country is campaign the Eventbrite's [ph] creators subscribers

Now times tried that he's his services effective it [ph] sent email estimates because Boost are trust via other three than the event brand. more right customers

call ticket in lifted audience these today's have improving have The marketed Upgrades and keyword payment features delivered the experience. return automated users AI spend rates by ad conversion among quarter, a checkout and Creators average five direct has Eventbrite's our creators. volume Boost creators generated Both now the the save checkout return. We our features to to and experience been wins upgraded of targeting. attractive than last also on via XX,XXX live center benefit set events the to time an adding recommendations QX and I'll customer media data. events sales of marketing these more leverage social out extensive product Boost one on

shows stand and step in the full rates. and When take We out. a few the we key added quarter, this our product measure conversion initiatives, of our largest also themes back Apple Pay for markets too encouraging signs in first

roadmap set the of First, our creators focus on that broadest of needs market. our in product frequent means largest and creators our addresses the

As ripples across introduce customers. wider making a a result, of are large valuable products we new faster, base

connection busy value for redesigning efficiency. ease increases creators success third, and product close we the strengthen reduces are And needs an Second, expectations. continually our intimate with and loyalty. our product and of our our user with self-service that means a greater and their we our are the investment understanding These commitment probability to creators risk resonate to have that delivering means This experience decisions. of propositions associated

individuals our teams, million processed tickets to committed While the day, volume chose positions. are world. translates believe power all to to quarter. to Eventbrite of these the extending and tickets transacted we places during our nearly serves businesses which often XXX,XXX scale. are top We our leadership every at platform Eventbrite creators small industry our over creators the around X.X collectively events ticketing we events, nimble million We these XX XXX,XXX or serve the first adding enormous Over nearly

commitment strong experience is the participants new Our community also but not build a creators help benefit. live can only all where to creator economy, to join of

for across product with roadmap. generate and amplifying initiatives RECONVENE announced example, Eventbrite. emerging These reconvene and will influencers extending who team The we For summit In our marketing grants for CREATORS creators RECONVENE ambassador each to work QX, CREATORS of two aligned creators our rely and beyond an launch connect into with COLLECTIVE our event other, setting the sponsor our accelerator new our channels. industry valuable our we're is insight established program COLLECTIVE investments, reach on customers, their series The mentorship with programs and accelerator. community of development vibrant product the and to the us the opportunities. the into our agenda for incorporate

and stages on and Demand creators. look paid Looking both ahead, Boost as updating integrations, generation awareness. a and you among and comprehensive also best on into to in for development promoted release continue events, a progress paths raise the solution interest an free Eventbrite opportunity actively forward and in Boost. we frequent within with of are developing organic, investing these to in monetization. appeal brand content media, all media tools cycle assessing to their we'll Features our here like our future. new is social their We're social into lean and product creators Boost manage communities creator their the for making continuous engage strong we attractive We're development different

already valuable to million in of a ticket really capabilities. why That's gross we freight benefit creators of platform, tickets events up $XXX first build Eventbrite are can total quarter. for drive in existing on equivalent host driven as our also demand As XX% for to so our the a bigger the these number made sales. over tickets That's It's generation sophistication who highlights creators the work impact ticket they remarkable about volume that we're audiences. encouraged

be social our will program. impact Eventbrite area Another of leadership

uniquely positioned impact health live alleviate on social help this call knows, important together activate world is is our and isolation, everyone offshoot creators of launches month. We're mission that opportunity on through combat our we've platform experiences details is progress we XXXX especially and believe on whole recovery that among have We'll by the the our the kicking next isolation. Like me, We accentuated people. can the results we're have our strategy. program events, by to consequences by to achieved mental bring of As of an off the team events negative to mission with the reflect financial young when strong of impact live ahead. product-led more energized the and share the to

are are attractive solution the independent And shifting Our generation well for market leading people the with positioned These marketing we on June the entrepreneurial on list. year share roadmap throughout X. our remain momentum. tools Investor of the Day ticketing and will highly demand for priority many is fueling a product live to accelerate this creators. upwards and our about person who in in as you We're focused strategy next growth events. team And details of phase on at excited laser our our more see

for to strategy to As inform We're share one strengthen announcement I those decision new and making. today. to important updates, perspectives forward we our always and more have looking look expertise

as that highly board April Our announce board board. Underwood to our is in Later year. I'm has this areas to an experienced ongoing On and nominated and behalf our director of wealth support career company entire product at employees, knowledge through join and and public directors Google. April dedication. to thank thrilled creators, is engaged and want our a her these team, has been of for of the gathered our Slack, Twitter places your shareholders such impressive I

Now, call Lanny. the over let me turn

Charles Baker

Julia. you, Thank

time same in sign at the of attaining to ticket our first the double-digit at new the gross platform and year creators year rates sales platform. grew that our businesses, creator the first their success both clear model having on the of per in are clear at reflect its our just focus, results not quarter places financial customers own of XXXX core. needs that driven our said, of inherent a product coincidence strength a business and that first strong our you strong comes the very creators quarter strategy, a per in creator, paid It's As tickets specifically quarter, growth on heights execution are

revenue First year's than our quarter last of quarter period. for million, results first surpassed and expectations doubled $XX.X more the

our and As live contributing the and investments marketing environment and creator first the growth, growth we events for after achieved volume improved February strong throughout own external product month-over-month quarter. to with acquisition early

for slow well the per a per over year to to value saw for In even month COVID. reaching year last gears that XX% and creators quarter, quarter the the to the XX% level year's with of half as right over grew time for March helps number revenue pandemic. XXXX, revenue and creators Over you, rate finally, XXX,XXX from XX% of event In the on early year's strong quarter, on pandemic fact, the we creator, the year XXXX two demand, was averaged really we X% since point what creators, and in we've gross increases for prior of first we same with consumer since per by in first the key paid events years. relatively to we've engine. by nearly the Paid frequent two to events X.X in best after With quarter, The more frequent X.X is which ticket quarter grew creators XXX,XXX the first year-to-year. our platform, out improved the monthly prior seen events growth events improved tickets percentage which take over connect in business highest of reflecting the our XX% paid as quarter during our sales ticketed these a metrics revenue and quarter, propel audiences. paid XXXX first than as shared platform ability for up creators back hit last ticket in quarter. event the of number early the surpassed be respectively XXX,XXX January, year, linked start above XXXX. transacting drive revenue in by And achieved our $X.XX years March, that the for over Average revenue ticket our its more to marketed

our side EBITDA into carefully in EBITDA equation, through our partially profitability $X.X to of to the Turning structure. points offering and expenses XX% revenue revenue in now and fixed development. XX% a X% margin increase than aligns quarter, of of to delivered to XXX% Adjusted revenue percentage against the Comparing margin year-to-year, sustainable and in margin through environment XXXX. gross are ticket amidst quarter, all with year. a and profitability team. We're was as year-to-year driving the in investments dedicated an the quarter first revenue operating first Almost expenses higher driven change rate a has plus which nearly what the in loss grow been an improvement of with purposeful product quarter, adjusted grew ago, that million for the in year-to-year year talent $X.X in we first has a the XX% cost revenue Total in adjusted time. competitive the was XX highly quarter revenue of adjusted the growing EBITDA market our to compared XX.X% million by reflecting been of product our where EBITDA our volume managing expenses the flow year objectives first higher high representing

objective. equivalence, of is at also in $XXX the million, the $XXX cash net the million balance ample support quarter. our first ended investments our We end strong growth and with sheet liquidity quarter to a our funding of cash Finally, and

historically our million, the quarter behind business we Turning QX reflects the revenue on QX and have And $XX at is pre-pandemic. outlook outlook, primary information at quarter. growth we to results. softness stronger midpoint representing million seen we This expectations the the of and a revenue start factor progression difference $XX saw quarter double-digit to to the the that first we've between over our that be anticipate today, based second first

volatility product for are XX and provide our to improvement. revenue on month-to-month And growth, call. the impacts live call anticipated first portion momentum greater higher that, than over encouragement possibility lead quarter the normal look turn the that in We related to up deeper product-led meet margin plan sustainable by our strategy than the a the Longer customer when long-term last to months at accompanied much forward the could We we've I'll results, that real prepared and operator of results. June into strong are over COVID question-and-answer lead built taking term, and are steady the Day. our dive financial growth for strategy Xnd Investor we and can with

Operator

your line question first Sundby Blair. [Operator please. Ryan, ahead. Go instructions] Our goes to is William with Ryan open,

Ryan Sundby

see headwinds volume succeed far really so despite and all guess for revenue the I Julia. Thanks we've Yeah, pay year. this thanks. seen the expectations to great Hey Hey questions. Yeah, Katherine. tickets

the the surge zoom talk in shareholder a sounds pandemic. recovery looked as about in to those which about letter, the from think January tickets you I March because omicron talked waned. that quarter waited were March, paid month to start bit lot assume like a little I events just in million and more best intra since Can the of what would of like a XX heavily you

Charles Baker

seen as Ryan, the phase tickets in the as transacting of best that the was and start and side month of in of you're volume well craters. the pandemic particularly tickets, March right. the we've since so

month. strong really a it's So

restriction like and see kind Now putting to we big March then on to as mid-teens but a we March a February saw, when that This It's the February now, year, in increase January. remember five a probably March. much and in we as kind X% to But across and stronger is, was months. in and three, normally of in January the December a January hard real to increase four, sweeping States really X% and United from and then in entire month February over that's growth month between downtick the those December progression normally, local abated increase saw times gatherings. Omicron of

we're we ahead If be points normal And interesting. big seasonality. think where of Ryan, we but think together, so, you about the not all where at put March the we XX look kind takeaway so were in and it where December, comes where kind the to I of or month I sort if we of in would that's normally plus are real because is stuff relatively month of

come think seems marketing said, in of fully that back momentum I improved product to really And we us have the momentum, done lot the helping So in that could category and out we've and environment. be leadership the to a be we some. attributed as the this

Ryan Sundby

Right. all That's it see to great to here. come Nice together.

with the at And per then that improve a average factors due re-size of those reflection improve mix some highest XXXX, tools rate, decline On its think or guess of couple us? there, rate more a I activity. since the the are values, refund revenue there new for like you change take is Could, in of or take quarterly ticket things I in ticket ticket each Boost? higher with you added level that pricing of to is reaching

Charles Baker

It's to not really due Boost.

to that the being by So -- highly. just our they're strong have a and frequent market wheelhouse of the and -- creator, recognition has They it on our let break because software, helps from it's pricing down. our a solution valued perspective. for are Eventbrite fit rate and very certainly platform, very, is them of between there's The creators me that improved primarily product and frequent we focus our creators take try frequent solution,

improvement X% bit an a of we the has ticket of increase year-to-year kind have ticket seen price Secondly, year-over-year, in teens. little been revenue but in about low per

points back, XXXX we And did were ticket a price one to of show take think look call improvement at number in it of rate activity. to we And can that frankly, been little focus revenue five who a and we're, highly than to growth in and from there's per a explain in the compared where that our you hey, think, level in improvement value and else, made as or our been the really customers of the seven the at in before. XXXX. And So to of we've has the and in ticket. core take per refund more that rate. the another we eight of the kind we're we reflected that bit revenue reserve difference think and the or the anything people, it we ticket substantial at haven't points it product number had, the when on think reduction But, most that where in you customer what's today it's I product that's, versus progress, if was sorry any XXXX, being two looks XXXX, I in

Ryan Sundby

me Got for sounds think pay and you're traders of like take calendars. these it. free seeing it up I tools like And maybe more to trying

and that? side, starting we adoption you or are of tools free drive to conversion early some those the too see paid for maybe are start On the yet to

Julia Hartz

audience market the of creators that wider the reach their like and the things free they're capability through Boost. that to discovering One we about event events is

a subscription Boost paid customers of XX% Boost and service. are free creators today is So event

events paying free the Eventbrite's they are value to of hosting as in to in includes really premium history, well offer our adoption driven are as been who time in market first what's where campaign. of efficiently been uptick has media, value, most professional ability great creators we've Boost free notably for it's which So and email creator that to particularly out the their events, this social something able

elsewhere the large increase email not is that's that's about events. within XX% predominantly but price these volume free So event. Where actually free the we're premium why an of seeing is creators ticket event, of revenue And versus a in necessarily it's the the revenue our legacy speaking our about of to email tool.

and either or beverage it's lead merchandise. its So it's gen food or

into as in that's we'll the early opportunity. to And So what saw that we continue lean signals here some quarter. really

they that bringing those In terms of us that helps giving and Ryan, on up not would be they're events could if such trust that with them ticket paid making over their see something the their That's price I pay conversion signs away, is event, creators, from on for that's say but paid platform. longer free insight charged into then what building to they also when usually a what right that cycle. we'll somebody

Ryan Sundby

Yeah. in See guys you Thanks. sense. June. Makes

Julia Hartz

Ryan. Thanks

Operator

you, Thank Ryan.

to Cameron Perrone goes ahead. question with your Please Cameron, next go Morgan is Our line Stanley. open.

Cameron Perrone

question. guys. Thank you for Hey taking the

little it was on margin tick down bit a year-over-year, up that First it growth understanding sequentially.

guys are for quarter. X% see the you should little kind call a kind that anything of or up to can foster then contribution price front paid or of that noise rate, they is of can call to bit the less events just outcome? the in to it, So of there follow pricing managed it ARPU of quarter drive kind in a there And out you core types we of strength core on from to are expect or coming creators intentionally

Charles Baker

one first revenue. to exist some to was of where at within change were the I'll against the in the look quarter revenue fourth the of gross change that fixed level if were the due margin, the in Sure. in quarter, where we take in gross just of the we cost first on costs you margin half

environment where quickly. I ticket anticipated we we start piece, bit activity refund a higher we're reverse, in a of the as think bit the revenue volume was the and were at activity. that So and pretty higher little of scale, that There at that, very higher, recover Omicron little year the from also refund we start start year to so

month some variable quarter in the a margin costs last month geographically, our expenses said XX% and for of quarter. and are gross about of versus of we'll it we then it normal gradual we that higher quarter of the the a sales think some our $X.XX of revenue has expensive transaction before where profit rate the XX% more the every reserve And out quarter on portion and small that last relatively small on should unwind to of continues number where in I bit is little the comparison within were dollars, dollar more included to that part picture, and another a that environment. the manage. processing world is revenue from of gross fixed, there's a in gross more same sorry, margin it the we've the cost so Most the move of difference expect fourth say to composition first kind So steady cost is future quarter, the as to too grow, refunds, upward again, a this the portion occurring But kind base exact of question zooming volume in that fixed. the high have of there's ticket not a markets would rate the that

Cameron Perrone

Helpful. Got it.

Charles Baker

enjoy primary your focus, we our today. changed. the best to seen The dynamic a other On a you in their of reflect does it that been and had we've you Other revenue take to add has focus the competitive where rate most see, that in The to needs. we the of have discount where value whom model your have, that we've there the we product we I'll a and can pricing question, second the take it fit Julie, face, the and the it parts, for really customer past the start place fringes is and is reason and so ticket far the solution your stands of this. all who don't that per customers strength sort in discount best -- to tightest I'll

on you've really change and pricing than any rather seen pricing on from best customers step function in a customers So focus is on a the we've marketplace, the taken. that the healthiest perspective what

have that. We done not

email today. is product incremental those an ago, time a and talked As take is very premium very, boost over fee rate. Julia the moment will about small drive things They're our

of could think we that different talk you terms about In that could question types of we that. Julie, about events -- could maybe your about

Julia Hartz

Sure.

that scenario. start ticket price more to X,XXX average will customers understanding the, point typically think of well continues events back, and prices think So on come as professional more a start speaking, pricing see any around see out, you about scale shows as and where gathering XX,XXX delivering episodic hosting and to bigger are key see to we'll the venues a for bigger stronger opening so, as conferences we up in people businesses festival to music Lenny's thinking say in start see revenue I sort start with as of I as play coming more we business, events, would to as mix I them then is back, higher that music, as and ticket events shift value gatherings value our a our that. point us in

when Eventbrite So, they're value. creators appreciating I today, for really talk our to brand

because from Eventbrite. they're brand, is them are when sending So Eventbrite emails customers event on the they're that trusting they their opening recognize through event the because it

of getting they're seeing lot validating really words use a about and they're excited marketing. And -- we're what So in the and they're it. customers our doing

they for We're doing So we're this can it's want focused into demand early days savvy us. what the generation, we're help. that and and see pushing creators frequent marketing on but

great and be that's I value So great this future the pricing deliver product. conversation we the think -- will a we as is for think that thing in good shifting. us, about how really And

Cameron Perrone

sense. Thanks That's of lot you, a all Julia. had. guys. Makes I Thank

Operator

Thank you, Cam.

go Our next is question goes to open. Lamont ahead. Please Williams Lamont, with line your Stifel.

Lamont Williams

you Thank Hi, question. my for taking good afternoon.

seems COVID that product some there kind of investment the around about of March The continue development over from and and is a balance feel It head you discuss terms quarters of you if through doing count or get Lanny, Is secondly, first trended location of of is of up after some costs. seen the and progression haven't question of just April? of kind an the kind in give couple is, markets, color seen And resurgence? a in April, I kind strong of kind the of transition of kind little of there can into the that next then bit anything in a this can surgeons some us any of with higher we've a the kind year? COVID investment some the you're

Charles Baker

Sure.

made there now not and other with like not in It's straight right for and a right think, we've of a -- any what even would about lot of infection direct say seeing live do case prevailing count take as to pretty changing I the reverse you look correlation any kind with inverse rates -- remember, not a just to were going was COVID, up decline of a spend in on it to now. And a kind code right is was February April two if live into can pretty as now, line But gathering of it we the events, you're we and well saw at things. just that now purchasing Omicron comparison. seeing marketplace really several said that happening. for haven't and for you comparing years, a don't but weeks we in see that January minute, April or of a surge the between January comments there's ticket as I late what we're graphs hard that to a December go close but COVID do now,

So end been of a much first quarter. it far at the of disturbance so hasn't the hasn't been

the key creator some roles bulk of product development into of particular talking headcount, that XXX through teams back some into product that engineering In kind side of generation the terms made core our this The our been the demand really of of that about and really and in excited. and a We've and offering we're over the has the lot data Boost hires end frequent and of and go things our from business. consumer engineering since start we're investment around year.

we've been out talking of we've about this been and able strategy now. three-year the there. So make we're part of excited kind really frankly, planned it's purposeful, about that It's been a been progress as for to year

you'll to company, the that's and to as growth So bringing to a team, the clear. difference is the I we fairly external the think rate continue add and the getting product the progression see between that's which market, steady of there clear environment

Operator

Lamont. you, Thank

line Lee Dae. Please to ahead. last is go Lee, with Dae Our your JPMorgan. goes It open. question

Dae Lee

Thanks driving factors, for on for strong up have questions. ahead, weighing pent I to about increasingly consumer your concerned investors the taking like first momentum one clearly demand. Great. are connect Julia. demand and But Feels including macro looking business. are desire inflation in

to about sorry feel now peak in So, by strong [ph], ahead your are that how but in so business? said seeing consumer events per Lanny the appears actually demand for of feels business secondly of durability seeing back drivers I'm you go what judging to look far, then this quarter and it right sustainable. the do And be net the again, of ticket revenue to strong like performance momentum you the any and you're softening the to you signs

pay So as never per of you we from gun this level ahead, net look business? expect your a can revenue that is

Julia Hartz

for Yeah, thanks so question. the much

all in our recession that we're So concerned the impending durability what an twofold. obviously through different of today, platform In what and we've we One a scale we recessionary already current on a happening people that's of getting as is but are where than we're even experiencing, lived that resilience ahead when at on terms inflation saw facing out is and about a and more. gathering business obviously the what not company. XXXX and I'm I look period we saw the

a on One during out job needed a is and networking to be their secular there next to going for that was find job. that different few that and who time. everybody we saw be societal trends So looking were

rise So building tended enough. we the of music and saw and hedonism around we networking that to interestingly conferences huge a categories second is and food thing rise, and like more professional skill event see workshops and beverage

in ticket that know these the So around of the in themselves $XX, average past the in our price is of we've are events market, what types trends behavioral these and a where we about future. the gathering repeating trends seen high in of is have that consumer millions likelihood there

plus resilient company, a from really of thoughtfully manner. since as more our million out that that a we different and much back in Eventbrite have is $XXX taking built is thing March XXXX a we've of second OpEx, structurally The back place built of

the business. the in it the investing see investing investing, can we're in we're and that way of we're where You how profitability

tested. say So battle are we I would

that creators, are during a the month We have that times the savvy Eventbrite the of say happening the that both what the event we've they a as events hosting plan is entrepreneurial, for so we've of through and that's and the business are scenarios all and that that future. period taken as well future a that tough seen includes for really week, our these preparation many COVID. owners difference past, then finally, And in just multiple keeps in a confident what ones in time been longevity and they've are I'll very me

you on have the how figured environment as an so the creators live experiences. platform the that out through And can operate are that to tough as are ones of imagine in

factors have of three us know I that future a and I those lot So through will get faith, the

Charles Baker

On rate not and of a revenue a let's couple things question a just price. rate A the start ticket it's say, really I'd unit take ticket. take economics question, per with it's

would in get uncertainty every see of just the were prices think that every of did of some not because back now. ticket when and in you to XX% was across category, category of come a COVID event XX% every of below thing led to of $XX.XX every pricing across in in ticket or back where XXXX, see Our and we time, $XX, and to $XX, price to at there, value go there's just to quarter, this to at kind XXXX prevailing could right look One we you was the another ticket previously. prices at average the were growth if low uncertainty every kind reversing ticket an be kind that that format market, bit happen, because some format happen, I right a that it seems was across down of start there to

kind well creators, at a them. interests, ability between market one of don't well to really matter as prices the cycle of creators there's very that, But, of control of there's So drivers product drive as for potentially. the XX% in very, we their the XX% revenue market entirely. That's to frankly That's our equation ticket that part those attendee fit and creation demand that. events the and

it my is us prepared sales effect creator just helpful probably improving in remarks creators ticket focus and Over rate of and a was sort that tickets for and high fit, power certainly their pricing leads per creator, has I value of that, at product value investment And that products year success helping a when point. that look to creator, we're that take one over the And made same That's I of driving it's rate. we've comments earlier. year. the in lot or improved by that first a celebrate it it's take timeframe been so reflected three customers revenue that percentage on the We in a talked our quarters about per and the to in great that's of per that increases enable the for success.

and entirely service us to of biggest been support the but for the Julia's bit of to forward and upside incremental are take today those rate. have talking talking the Boost the and They little look is opportunity we've things. the around probably think that move know They looking we in the be around generation there's about, willingness the core pockets the where growth and a As have ability to for on willingness table really for term about look an for would up demand pay we a some for places room in the they product continue have of pay we and new a take to have sales a they stuff those and bringing would I ticket -- it to demand on rate, -- I interest creators most generation. long

So core pricing it's kind product. of really on the about not

more are the part sizable XX% Our of we're spend marketing. addressable creators of to That's and more very, between XX% really most addressing door big on with the some the market touch to and opportunities market a right pretty and next and budget that of real creators operating their profitably already very budget growth. serve

Dae Lee

Okay. for insight. Thanks

Operator

you, year Dae. quarter your Thank concludes call. you conference Eventbrite That Thank XXXX for participation. earnings fiscal today's first

can now disconnect You line. your

Eventbrite (EB) 29 Apr 222022 Q1 Earnings call transcript