EB - Earnings call transcript Q4 2024

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Operator

Good day, everyone, and welcome to the Eventbrite, Inc. Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Katie Pickett. Ma'am, the floor is yours.

Katie Pickett

Good afternoon, and welcome to Eventbrite's Fourth Quarter 2024 Earnings Call. My name is Katie Pickett, Investor Relations. Julia Gandhi, Co-Founder our are Officer; Chief today Anand and Chief us Hartz, and our Executive With Financial Officer.

this for which prior Investor our Shareholder reminder, will was our Investor Please released a conference announcing to being to is As find website recorded also be refer available call. website our replay to Relations Eventbrite's Letter the Relations on at investor.eventbrite.com. call and financial results,

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

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

in are During limitations this prepared call, generally principles measures. with financial non-GAAP which non-GAAP an adjusted adjusted These measures as EBITDA margin, we'll tool. and not accordance present accepted EBITDA analytical financial are and have accounting

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

Julia Hartz

earnings our Thank call. fourth to quarter you, Katie. Welcome

already a take management. deep to expertise strategy to driving I call have impact, excited as want as partner CFO. first long-term Before earnings our dive Anand. executing moment a financial to as and approach his has our Anand continue bringing to we we and a to I'm in, made Anand significant welcome value. disciplined joining, Welcome, a him marketplace Since

let's XX% end out XXXX $X.X for and Now the fourth about get our quarter billion revenue margin results. delivering the target year-end to in of EBITDA, year. end into us range strong, outlook $XX.X quarter we our and our and enabling the fiscal The in exceed million upper closed last at of stabilization, was adjusted

As a This reminder, improvements without X% upfront year-over-year in allows in fees. event returned ticket acquisition, in made eliminating a volume side fees. organizer we've to growth, our meaningful September, model by QX. seen to publish to unlimited creators listing and transactions. Total creator then, volume we all ticketing steady events Since change pricing up

we from As volume recovered paid QX. growing improved QX and ticket point was from to which trends ticketing QX QX, XX% faster, a X% in had sequentially swing anticipated, free

continued into has transacting event XXXX. momentum volume creators improved. paid Additionally, paid That and

year paid over January's tracking now paid strengthen. month consecutive at creators transacting both leap ticket of Looking X and year's sales performance, months per impact. to We're also improved for the year-over-year improving paid continued and trends creator ticket sales year-over-year adjusting last previous ticket

here. revenue Creators continues their used key more scale. in promotion creators audiences. leads the in and to our year ad year, more and Another to creator XX% the full we're is QX expand to from and stabilizing of momentum tickets deeper which monetization, investing engagement better than those grew expanding to cycle strong sold across sales Xx who who XX% engagement accelerate growing ads ads ticketing a Compared where creating With driver confident last discovery more platform. with in for didn't, trends, Eventbrite ability ticket Ads, to event

how XXXX. to to want moment thinking we're I about a take Now frame

We first purely are a function mix lower last But guiding a clear, of to at glance. reflection stand revenue revenue is a fundamentals. this be of to structural may range changes, year, than which not weakening out

marketplace With growth and our year changes year is XXXX will believe ticketing us XXXX and fully in the to business a exit as guidance, to revenue a reflected stronger, that we pricing we one transition, of scale drive efficiently in expect stronger the in beyond. scalable more This prepare and monetization.

Now our This mentioned, execution strategy. of with we're around that's disciplined deepening marketplace we're monetization. result our things: momentum, our as consumer I XXXX strengthening X creator entering reach, sharpening focus year, of clear engagement a and a expanding direct and

cultural a better Eventbrite rolling connect with to tools recommendations redesigned refreshing events. than more from users greater awareness, making next enhanced recommendations social-driven to consumers, Eventbrite and we're and showcase launching video, creators of brands tastemakers app, immersive retention. their also and brand for we're discovery our to event make the out with events engagement great ever. For It-Lists, event also We're finding curated generation easier drive and And

the new reach, social improving integrations by in over using centered returned data who for exactly to early point-of-sale of they point-of-sale platform who to as For of this Stripe with segments extension deepening event solutions to Auto the powerful marketplace. audience continuing of High-volume and were the connect They We're efficiency in to we want Show, and Take rolling our for of high-volume to to This on relationships access segmentation, accounted X/X Eventbrite example, new strong volume. offering Eventbrite when growth. We're placement investing programs, and retention and platform efficiency connect of type in power high-volume creators doubling the ROI nearly out and enhance promoted creators the tools invest and sold and add love. timed drive at of on into by creators, their They ease. rely audiences. serve, insights to customer event in Stripe down creators around creators targeting creators their to advertisers' the through segment across at their for such new consumers sales the monetization opted with the automation leveraging sales our among see plan thrilled. adoption Ads we're increasing with integrated with expansion paid increase high-value journey they to XX% better listings. ticket like this the we're on events Detroit the opportunities We consumers is of already scale marketplace continued tickets to release solution. event and tickets XXX,XXX recently expanding who consumer driving processed person XXXX, those those majority who drive with paid ticket entry, also

of revenue the So in shift while reflects a reflect our outlook not does it business. a mix, weakening

running a stronger, of trends, we're improving structure, efficient are more Eventbrite leaner, fact, were and growing and In we scalable With than more Ads scalable against we ticketing company a year for adoption a leaner more months of business. X executing ago. operating a plan our

over Now our how we're provide Anand to financials you through Anand? and these to I'll more pacing goals. walk hand it towards detail on

Anand Gandhi

discipline. forward we you in believe scaling combined returning vibrant the our the organizer the I in marketplace. X-sided pleasure here excited just trends. live execution go-to time, the my here as fees, to business I is to I'm the of have At growth realize paid financial looking positioning way. to marketplace and leveraging strong Thanks, for top ticket background believe And my to with we're the are month digital Eventbrite, our team decisive of volume third improvement experiences. I'm ticket strategy into with this deliver at with fifth be completed the us my to operate consecutive of Eventbrite to about priority brand, year-over-year product, and continuing to paid Eventbrite Julia. vision our a month opportunity. The It's marketplaces on transforming a today. I've position while Eventbrite elimination

walk I'm all numbers specify commentary, and what the versus reference unless business. Note XXXX, year-to-year are you going we're to in the the following that seeing otherwise. comparisons I Now in I the through

fees organizer continued fees, of and Marketplace This which revenue million. from which was XXXX. was which $X recover to impact XX% We the at the of down by XX% the late Eventbrite paid offset reflecting range. of was of upper first up to the strong in revenue decline creators. driven organizer Let's to QX partially loss declined result million, which by revenue was reported volume, our tickets. introduced XX% expected start adoption declined by revenue Eventbrite the of XX%, $XX.X and primarily as with was Ticketing continues $XX.X million, ticket outlook Ads, in end a strength

some since As I and seen we specifics September, now. have business fees in we've let's improved eliminated Julia trends through mentioned, of those and walk organizer

million. XX to also driven X%. was XX% $XX represents a up which and million This in a the XX% ticket First, as sequential by total improvement rebound volume had $XX.X QX, up free to was in year-over-year decline. we a volume ticketing was Paid we in a reported X% totaled QX. decline was which tickets, from expected in percentage QX, represents million strong $XX point return growth This

QX, also trends an this paid down XXX,XXX which Importantly, which XX%. XX%. year-over-year improvement totaled of was was in creators represents down an Transacting improvement from a QX, trends in year-over-year QX, the was decline from which X%, in

ago. $XX Eventbrite revenue, million, margin reflects In versus of profit fee organizer This to growth Now a partially continued was year by reflects from profit. XX.X% gross mix QX This offset Ads. margin the decline shift turn let's XX.X% gross QX, gross down a XX%. away in

bonus This an largely due driven compared in workforce operating to the Now we XXXX. bonus performance to well looking have that were Total QX absence million reduction expenses. to XXXX. performance year a the in QX personnel was Note ago. $XX of by decrease as annual the due in million to $XX budgeted the lower year annual as expenses for costs

expenses marketing expenses, by a XX% increase This General development in in expenses and decrease Now chargebacks other administrative down QX, increased personnel million in and partially million, lower and from fraud third-party XX% million QX, by $XX costs Sales, marketing were year costs were down driven were lower from remediation and costs. services. million. by expenses by out expenses. ago, for million by personnel costs Product $XX lower $XX driven primarily an was professional increase support OpEx. in a million personnel breaking $XX $XX offset from which and primarily of driven XX% was $XX QX, primarily

was to to to a loss in ago. $XXX,XXX year. Adjusted EBITDA. QX million compared $X.X in was Now million we'll period $X.X year a move same million compared of the QX loss adjusted net prior and net the loss in net $X.X EBITDA

which offset partially by workforce costs, For impact a of $X.X was full settlement reduction reported included in a net million, EBITDA legal adjusted XXXX, $XX.X year benefit. million

costs totaling other EBITDA, million. For year adjusted that which million, full included $XX.X and reported $XX.X XXXX was restructuring

sheet. million turning balance totaled at Now end restricted million at of the end QX. QX, $XXX cash equivalents to $XXX the and Cash, of the from cash down

$XXX proceeds sale debt at end available $XXX the the $XXX end as to X progress our in in was ticket of repurchased end the payable key ahead, significant made QX. QX a of the XXXX reflecting QX, QX company's is Total repurchase at of debt our liquidity our of we've $XXX Excluding QX to priority during was shares maturities million. million the million Managing of and million notes. million of creators, compared year the with of

our for to ahead. the outlook turning year Now

$XX information, QX. to XXXX million, be to nonroutine margin the quarter in on within adjusted current mid-single-digit range, we a EBITDA First, of revenue looking percentage first Based anticipate with range $XX items. excluding of net for million the at

transition year, at thinking be organizer fully through about then in lap we you that the as the I'm of are the keep a of to elimination introduction XXXX going fees. to important mind how the will we full the of walk It's multiple model. impacts year Looking and

and ticketing Eventbrite's revenue. forward, will ads Going comprise essentially

with expect to continue Ads the year. deliver Also, see continued trends paid of to recovery returning we volume growth We half second in growth anticipate Eventbrite to ticketing the to year. in the ticket throughout

$XX approximately XXXX, compared organizer this a for we to the revenue year in to stream fees. at On full deprecated Looking elimination basis revenue our of million result expect headwind XXXX. revenue an stream,

of continued As a expect to recovery these $XXX in revenue ticketing million year full impacts, elimination result revenue including organizer range fees, to million. net the of a $XXX be of we and within

the This in expect driven nonroutine the EBITDA by We excluding margin adjusted fee primarily for year-over-year the high-margin percentage organizer revenue. an of digits loss mid-single items. in decline is margin year,

year year foundation Now a of Julia to the recap, provide strong growth. as a financial and and progress make is us believe the XXXX to for long-term highlighted, discipline will maintain us scale we We throughout transition. enable and efficiently we the

the to back operator. turn I'll Now it

Operator

Your first is Khan Instructions] [Operator question coming B. from Riley. Naved from

Naved Khan

Great.

the guys in And a questions. Has a Anand. around about like partnership. any things? One, an seems of conversion just there X talk time getting volume, you're the there. So maybe good been question Last It conversion. lot is other but bit the pretty not update gave you then TikTok I the of just side outlook, little have annual improvement

So you offering, back million for a at I the guided the margin. close if And of had impact kind want EBITDA from to, kind it line of X% look the for the outlook XXXX. say, to you where top $XX to mid-single-digit in you EBITDA margin. discontinued to year, adjusted compares But were in XXXX, I

be in mid-single why digit, high-single-digit So not range? why margin the of sort

Julia Hartz

Thanks, Naved.

our younger where through especially from be are convening where focused when people audiences tickets And interest their to are the important channels are discovery. integrations organizing partnership, TikTok expanding And distribution we and consider contextual continues our driving is to people events actively so overall, purchasing prioritize niche ticket strong with on and TikTok directly integration. with commerce around discovering an communities, will places with and actively who the discovery channel for discovery. engagement Our you sales, also happening event we partnership through creators where are and

So organically, cultural are that prioritizing categories audiences our TikTok especially the helps reach in we music, new and experiences. nightlife obviously, creators

the like into more efficiently viewers We are native you search, and to impressions ticket them working conversion. where to drive with integration can put places

we that the make more ticketing native the on working seamless. integration. I think still side. with still can Happy the So conversion

we're And their throughout with to last Instagram, multiple important XX it's in Bandsintown, maybe -- that very including it we Facebook, the diversified cut takes TikTok of ticket. is discovery while so many. a product to perspective, number clicks actually product channels believe risk growth So days. we But their team that the that certainly we successfully a social working get one have partnership some of it's down across lever, from slowdown saw Google,

just So we consumer now active where to in be the -- in with of very we whatever are follow And -- doing at the time. are the prudent balancing to investment the you are to building margin take our right the to they active us. Anand, front right also in want put our event right do again, question? focus and creator are and and they're they

Anand Gandhi

the $XXX XXXX XXXX, million Yes. Naved, versus so as we're XXXX, for looking so at of have XXXX in I revenue. did believe, guide

And -- X% EBITDA and so about margin.

are in one XXXX, are there piece terms compensation, we that bonus we takes, And do particular, taking is is some big in XXXX. that's in And we that that revenue big so puts for a factor on -- incentive budgeted not other XXXX. in itself big there points million we are fees, really where we're since basis say, margin of XXX -- reduction other a organizer of guiding the comprises, piece. that for $XX for pay did compression, account in And example, and and but

compression. revenue, we of together, the just and basis plus just you So little those HX, itself this compress be which there say, points return scale as ticketing year, in XXX would to of in Those a margin. which decline all account implies growth margin take another pieces year-over-year if will into some we be from deleverage bit revenue ticketing will that

margin points. year. adds year. benefit pressure is in EBITDA and We of do half mid-single-digit force the And are in see we priority a that are of we that to despite that did discipline this Part So did reflecting over cost to financial though, for last big X,XXX that guiding a August. controls basis now the is margin that reduction

of the to rest we're are it managing costs, level to business or and controlling the costs really at appropriate sure very conscious is day-to-day they're of tied revenue. relative costs adding we growth revenue how only how to So make an reducing to tied

going are have are margin, mid-single pieces, that's been So headwinds transition million comparison. to feel those year-over-year we're we $XX we're margin year. dynamics a in right? So on But digits of year. guiding that X a just of We're will that the this could significantly lapping. again, in why And big part lapped be with is revenue, our movements through revenue we and of organizer big fully that. these By onetime the that those really worse is from end piece situation fee this going not those view, to in the highest a decline kind that of we XXXX, margin have

healthy XXXX And hopefully, those that plus so believe account into the bumpy we so of as if fact that of in so terms have in And right? revenue growth, very scale where take fact and staffing X in cost the a the we in the of plus levels, ads, have is really growth an ongoing without business. year we performance of year year the this the pressure, our end the those growth you do as pieces you back we that half starting will we annual growth, situation of and plus start and comp, have on sustained having both today structure ticket that pieces, are not issue, this

we plan this those a try XXXX incremental see high of believe to has it the you of So leverage revenue makes we of we you lower the gone look scale. us very at growth base EBITDA that deprecated things if drive and past. But have long that away, to field for to does if to for with cost operating the term, setting business piece scale ads that to can have that like margin pay things grow significant acquisition aside expansion not that we're not model, when expensive as of And we part believe because exit model set because yourself you growth. up that's ability need you with that's that -- you're is that operating scale the are potential expansion and margin -- and ticketing and very on trajectory set fact XXXX, relying contribute revenue, basically like -- and to how margin leverage up the kind marketing that external

So altogether, this profile up for us good, we long-term believe despite strong margin it year transition. of a sets

Operator

Cameron question coming Mansson-Perrone Stanley. from is next from Your Morgan

Cameron Mansson-Perrone

should Any you, start guys I revenue paid in longer importantly, creators I into the but seeing that free about wondering of important I business. saw XQ, welcome for ticketing talked more general, wondering with bit way to be more what of and specifically but creators the the creators? growth second, creators, fees Anand, importance for we you going creators have recovery little Julia. platform. paid historically, or call. of brand could there earnings ultimately question kind back insight was could And over frequent tickets one in growing winning frequent leading great you it indicator kind what with you you've Julia, just of creators. think how as leaving do in regard the winning record extent. free kind help to you been term? a in there I'm if free was view as to the consumer would ticket have if the a to -- volume on a free helpful. And and Is a back some growth a then for developing into organizer unpack translates about a of Or us is ticket with terms in organizers of track in organizers successful of adoption activity

Julia Hartz

paid marketplace We're That's on volume that discovery win thanks really to multifaceted big the able through not being engagement. of to back or are a we you demand and is can engagement the monetization. year-over-year is step no tickets the event. it's ticket recovery of free increase creators event brought consumer much point matter free tier. a question. Cameron, creator XX% a up retention, whether consumer our us our I And being up part and reintroduced which supply, as focused us driving recovery approach, and so and since there or that match first sign healthy Eventbrite increases helped supply for free Things

seen brand we've to we're with And regenerate leading improve, the months those of and had and our we Eventbrite don't launch fully in signals consumer tickets sell ticket gives ticket and which do increase also over us Xx demand the back who fact the to we the volume proven our so we're through really flywheel sequentially the improvement our ticket And paid not expansion. What we're sure scale purchasing ticket word retention creators the to drive well -- that we seeing things improve to tickets paid ticket consistent recommendations half free as simplifies volume, mouth expect very X clear well. we're we engagement ticket impatient, of And volume generation in as month-over-month XXXX to this -- us and And and the that and the will per improvement. experience, quickly will take paid XXXX. does really really improving already to that of Eventbrite expansion event. changes, are volume rebuild pricing to app but creator possible, importantly, remove through higher of as XX-point seeing indicator And consecutive marketplace. And in discovery sure are win sales, Ads, confidence new is to trends event on how which and this think that we X who accelerate. first discovery-driven more swing thing a efforts. as but you than ticket do by when well have as these ads make we it supply, in as marketplace ticket follow, total friction is second we sales recover paid ticket those use enhances factors, the is as really our lead of and marketing I'm about and know which volume. making and And and virtuous on like cycle our free has personalized focused product the event that consumer the Those expanding from transacting just as is sustainable recover

proof speak. there's so the pudding, in And to so

Cameron Mansson-Perrone

Any it. color what with Got seeing on creators? you're frequent

Julia Hartz

Yes.

Sorry that. about

happy returning in the large I core platform feature expanding is would creators. content. remiss on launched and With to events. progress the and with And is focused thus the a We've brings we ability Australia that of to we'll us. line to U.K. are far. frequent the creators benefits to We the a now with launched U.S. expand timed which be the in to the point been host not product within out entry and One frequent that Canada, are So creators, to we've year. key couple

to went Francisco sale And and Smurfs example, RuPaul's drive we consumers tickets to events just to So types buy these traffic and the that in coming San want of to back on DragCon with for is our the Exhibition are Eventbrite. that the marketplace.

commercial that high-quality the timed with foremost, and first content comes So entry.

the The second experience. to that's we end-to-end and bit thing for to the big ability with technical, the change a consolidate launched is our timed payout but a it's product the and entry creator to creator, that

their just getting payout, for of one they've event, whatever capacity level and which bookkeeping instead time. schedule every a So they're on up eases payout getting chosen account

our channel, that value a there's is So creators to as some timed experiences just are evergreen for for easy and use makes ripe content and driving in and them to actually, super of third, as adoption frequent use really Ads And which system. Eventbrite a entry it their especially we're it Eventbrite healthy creators the Eventbrite Ads from frequent seeing operating product. Eventbrite promotional

Cameron Mansson-Perrone

a have at would you you helpful. color comment debt this evolving? about we the perspective Is I big look picture kind Any the could more year. left, we with, focusing But weighing as balanced? capital expect ending will one you're maturities you those it. a if was million available active $XX think maturities? a Or on year helpful. Got allocation million how the Should When be $XXX focus plus we byproduct be I And should we wondering expect as -- That's for of still you're I should -- mentioned X repurchase Anand, on near-term on sorry, of being on uses liquidity well. from that of here to you think, capital you less how of it be authorization? share know

Anand Gandhi

question. for thanks Cameron, the

for the we're allocation, to to with capital approach the share debt a maturities going take buyback ahead, program. and year our priorities: specifically balanced executing X So managing

So million. And feel shares, $XX for priced as authorized you QX. $XX know, obviously, shares attractively. additional million we of in of $XX our which We're an we million are quite repurchased

And so repurchases. to do over time, expect complete we these

of multiple near and available XXXX, mindful we're there. and of December at the maturities, made we're options September we Looking million progress term, the significant our maturities, of repurchasing mindful with $XX $XXX have XXXX managing we've that, just million left. And

lot a healthy balance available have sheet, XXXX. position, for of cash we So the strong a options

just yes, we're are to attractively But going think, So that. of long term, I shares priced. balance all

though, that start look, And the kind we're XXXX, appealing. than kicking ahead is a these maturities. -- we're to. to authorization to quite attention that still for going going you taking like we term, completing In to obviously, pay So the well we're the but tires earlier of we near need

Operator

Your from next Lee from question JPMorgan. Dae is coming

Dae Lee

X. have I

side. The consumer build your letter, marketplace the in loyalty showed first on one, the flywheel you with

And to drive see platform platform. a your So given what what then loyalty been creator-focused historically bigger surprised I joined first transition or changes? where from full-fledged that most supplier Eventbrite secondly, marketplace hear transformation, or the curious and to means given you on loyalty the opportunity early for to a Eventbrite? thoughts was on, your to the the hear marketing you've Eventbrite building that like how is plan in you And more when you do curious like you on relatively

Julia Hartz

Thanks, Dae.

for users, loyalty a grown QX, and marketplace and we've users. app engagement So the app think monthly our I our up critical think, consumer of is we think flywheel. driver in about when engaged XX%. And That we consumers, obviously active most loyal

engaged once sessions app that matters event. on and about they're Eventbrite an get build orders X.Xx Why downloading has their community to and than their typically, we're audience So of on for the the because continuing more phone, that somebody logging Eventbrite web. it is actually using just They're who's ticket to someone buyers.

convert really while engagement app loyalty we make the most focusing of with the users, we're yielding highest consumer our to efficiency. on all efforts to app impact so and into the consumers And our investments user want

on tickets repeat are buying over do what we so fueling to demand. We -- multi-category higher want attendance, want And event to almost Eventbrite events. the drive of attendees is half

So of to Eventbrite music to York. just New our come in opportunity they're because events have breadth going that really we marketplace. not in They

And the want for connect so to faster. them dots we

interest functionality interest. own up consumers really which their lists discovery one could to to that We we It-Lists, all see recognize really list to section events and app And and one their and particular really for curated graph helping consumer them events. recommend. for of something were content be of that event into as to through that we And this them new to is and also want related sharing for launching as leveraging great events of and app we're their the create the users their local to it ways them event incentivize called influencers create the we're to app of their that niche a being leaning the micro profile drive recommendations community reward are is discovery able open discover they

thinking the that's really as what we example just we're consumers loyalty engage build through so consumer our about and on an work app. And of

Anand Gandhi

to experience And about we're I'll are, already piggyback gold, is I'll and just seeing really is One from repeat encouraging as everything of marketplaces building see this marketplaces, retention flywheel. both eliminate for just specifically the know, gratifying. of creators, based Thanks -- it that's we're question, fees. -- thing jump marketplace, answer, like big loyalty Dae. on creators seeing drivers also add, the we're Julia's to my for already, retention Also, the behavior, sides just we organizer really MAUs. And since that seeing on with in. the higher It's better on really really you

for a effect. logical marketplace building green strong, those all that seeing vibrant the we're are that has So flywheel shoots in

there right all direction. the So are trends those in

marketplaces question here. So potentially coming been about about good what here, your and into that's my background I've a seen tie surprised from

here. think have I was clear most X-sided to marketplace compelling and Eventbrite the that compelling exciting help aspect transition today. for an the even opportunity become me, bigger opportunity and was -- is it It me actually, much so the to to Eventbrite join really does immediately marketplace than So accelerate a

They've side. And X as platform relationships for all, They've tickets over tickets snapshot, Eventbrite, decades sorry, on with instance, that some consumers and on that have Eventbrite tickets million to over I just both supply since over of billion stats there's emphasize on on and of have creators the the the is creators then XXX Eventbrite. think really X cultivating XXX So million a X consumers events. XX sold been bought have million tickets the million had sold over first sold. demand over deep sides -- close XXXX,

built itself what's really such and reach important a broad that X-sided marketplace. an foundation history, of such depth is ubiquitous brand compelling that a for So

lot have And way to so be marketplaces, striving I large-scale that that history. for Those in existing -- don't be except an just to really their build the would build for say able spend -- they to to so reference a proud are is right? And powerful because to be to have today. -- most that big powerful they anyone don't point, of have ones advantage a companies cite companies but in numbers for lifetime, so money marketplaces, and and would that I that do needing very seen expensive are reach that need

so we buying growth. situation, not and marketing a there's opportunities fact that's Obviously, company have is already this this fortunately, to you're But grow more into question about. awareness you your whether that the sets that And brand that a worry And really different to up tap have the to and then powerful. reach channels. is all

is the the also this again. And creators, leader with this part that the consumer large to clear we power side for space Second, all a in well the in sets company established And the going position to tools organic best being flywheel the continue back a is that up traffic then of have the market. us to fact flywheel. the product, for and strongest mid-market events in leadership growing

have consumer you from this the all So organic traffic side.

ticks You creators have Eventbrite. have of X who this on million loyalty sold over built

acquisition time helping compelling built scale that help that of retention this all cohorts have to acquisition of story really to the on stack creator also then contribute -- both awareness as And you prove over fact about both We and we and side cohorts have And a sides and leads operating acquisition. that's leverage. continue with sides, both for to think the we it on both consumer and side.

the So in up, strong resourcing seen marketplace. was such gain to where in really seen are to transformation usually And companies is about not often and marketplace is of more case terms coming each advantage. tremendous that current place surprised past, company Eventbrite this X-sided starting really on the past in is element I thing a today, the much is with capitalize And in with to more of I the I've struggling that the is the the traction. much -- that ground the current that, here foundations scale I've at the has really the from what guess of fact kind a the what

So yes, excited this the opportunity excited, it's of ahead passionate really really say, really and all about us. to

Operator

coming Your from question from next BWS is Hamed Financial. Khorsand

Hamed Khorsand

more? intact in have grow reductions, have business to question restructurings headcount you and you need with Or to you first headcount Is -- your taken past given Are the do you in here? was spend lever the model to change you anywhere do work the just all my there So up business the from here? just need the efficient?

Anand Gandhi

question. the for thanks Hamed,

great a what resources into having and on really how a as actually the us. financial numbers we staffing and cost well that thinking of really areas into reallocate our how And question dug time the spent what important and execute it's here is seen strongest we've most tap and good are is we focus we've is to what allocating about to our So really about the them lot feel where we've done structure today. because to discipline. done to talent we've And and keeping them

Growth resources spending So dependent allocating growth we're appropriately, for a on the us, and on and time that's them is not what talent growing of having -- lot on. the dependent those teams. not right allocating is

So leverage. from that belief a is to another high-margin benefit as why building to scale business. operating also we we again, real And have the the build blocks tremendously opportunity

Hamed Khorsand

behind do offer you as Do the what of you those down. going have those you back, And from far more getting lot have get to is to money? be a to your more? high-volume creators then are Do What do putting back? standpoint question have you spend with to my creators trying to other them as just competitors especially lock to

Julia Hartz

Hamed. I'll one. take that Thanks,

engagement is return. in reintroducing just free creators, Ads of the they've since Eventbrite reengage So actively tier definitely and reset reengagement social advertising we've with and and, pricing September, such sell or listings. marketing seen gone, we're confirming them more as marketing, seeing tools effective We're and paid creators And more created that not tickets seeing stronger working. because course, even e-mail been since we've better premium promoted our

their coming them. We're -- our most honed key New service. efficient sure and across where is a targeted but it's focused driver approach Elsewhere, reactivated success And of example, successful management is very we're our and ticketing our we but our tooling, music for one make York's most customers. space ticketing Take only improved again, account the aggressive platform -- think strategy also consumer It more a of we've much I -- not really with competitive because ago. which for and our high-value one Many On left we of using, We the their when start in that cited to seeing have category, the reach. a Eventbrite and space. this a Eventbrite's music After being about Eventbrite they've also them they engagement. they X and and independent repeat event they competitor, taking with on sales-driven reengage they front, open have doors, COVID prominent partnered the audience during conversation, understand we to years platform returned they venues. creators

on platform East them for use nearly lighthouse the right marketplace strength, the Eventbrite attendees the reliant fact given the night, that at tickets their Coast. their they're undeniably, stable with per show they so our -- right XXX,XXX drives connecting right draw is. And again, and time have consumer marketplace nightlife the and schedule more and year, So consistently how on any to the they discovery capabilities, and Eventbrite on a being show they how for can our in amplify

I than it that we would it's things team we've that again are to convincing drive specific showing through as in We've up very We're is the for that and and them and of to think get them back we marketplace seen continues in bookings really the strong again, really the now showing really value that left really nightlife we them and the that year-over-year going engagement drive Eventbrite's and better. then by demand about have activity the reengage, start positive knowing drink. the and -- platform. consumer product more customers I to them could right can some before ever better I music say platform on and customers are seeing And sales. what -- want food

I So with momentum. climb would an be environment, is as have long, the competitive but day it's to say uphill going bet we I on any all Eventbrite

We have in brand. reliability the the

businesses. We power really have we their the help breadth, people the have and to expand

Operator

session. Thank you. That completes event. our today's this concludes Q&A Everyone,

may this and you wonderful have for time, participation. You a Thank disconnect at day. your

Eventbrite (EB) 27 Feb 252024 Q4 Earnings call transcript