SEAT - Earnings call transcript Q4 2021

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Operator

Good morning, and welcome to Vivid Seats Fourth Quarter and Full Year 2021 Earnings Conference Call.

Following management’s prepared remarks, we will open the call for Q&A. I would now like to turn the call over to Kate Copouls.

You may begin

Kate Copouls

Good morning, and welcome to Vivid Seats fourth quarter and full year 2021 earnings conference call. of at Head Seats. Copouls, Kate Investor Vivid Relations I’m

now, results discuss Chia, Fey, Joining year access earnings By this and to filed fourth Seats the Chief should are company’s to Officer. press Larry me today full and Vivid Stan quarter have Officer; Chief Financial earlier release everyone morning. Executive

page and investors.vividseats.com. available on are have provided earnings supplemental slides at also website slides. Investor earnings of Relations We Seats The press release Vivid the

we company’s with may refer management believe statements the make information earnings statements During the for the call, course we filings a securities in will forward-looking other this meaning to the These call, risks release press described federal are SEC. adjusted On that forward-looking non-GAAP provides our of and as of within useful investors. today’s to the and laws. EBITDA, uncertainties measure financial subject

You and SEC. will GAAP the reconciliation the corresponding historical to like to in earnings call adjusted filings the to turn over other Stan. of EBITDA find now, I’d a press with release measure And the

Stan Chia

you of joining began the Good for and thank second Seats here come year rapid both and setting that for morning, to back was us today. the Vivid with live a everyone, events record return It milestone quarter. during

in a continues of a It played our can as XXXX their are for fourth milestone. our and is so another a quarter and seamless favorite memories. part Early ticket safely and in full events. accomplishment over more results momentum to I million numbers momentum take the brand creating and reached fans believe have highlights. proud their business. detail. customer to trusted on and XXX We through Larry want growth favorite But to incredible of a more first, we reflects an attend our million to profitable performance build XXX you that tickets, fans year Our positive scale we that comment of will XXXX, the I’m on return delivers in the Marketplace experience example as clear seeing some buy at to events. they desire is our reflects we

despite our annual first in year Marketplace of $X.X the revenues GOV of limited highest of We million volume XXXX’s billion, Marketplace we and delivered delivered million XXXX, of ever quarter, full $XXX For $X.X billion. adjusted EBITDA. $XXX GOV exceeding

delivered XXXX, our impact and business the record Marketplace Following third on also are we another and Throughout quarter executed objectives prior for in setting strategic pleased scale, will of enhance have a number of only setting Omicron. revenue rebuilt that not long-term performance, pursued the but despite quarter, GOV quarter its we the to opportunities. record fourth to

XXXX. pulled originally we forward rebrand, First, have quickly brand events brand return of fourth happening into the we seen more live the than increase anticipated, meaningful the with our our with geographies awareness targeted in for our will brand investments of aggressive to view long-term with Marketplace will in continue parallel performance with In incremental meaningful efforts. grow as We line GOV. pillar these that reflects awareness spend we benefits important additional and guidance quarter we our in the a Since investments, marketing with brand launch XXXX. of an with launch brand be

utilize and already believe profitable, We that balance build, poised sheet scaled to remain that aggressively As compete. we we to Vivid marketing Seats from transaction. comes place we of pricing are armed a on continue we the highly first competitive even are with to strength, see pressures a and given strong

and most our SkyBox charge, widely already proprietary upgrade new free support of mid-XXXX. industry we XXX one this SkyBox, of we needs. adoption side was We since the also sellers saw the sellers offer platform evolving seller continually to strong that the on over ERP to adopted to seller with in added

sports. sports with significantly gamification the fantasy their we into the money real in technology to favorite daily journey areas. Sports, accelerating completed acquisition and Next, simple that increase The multiple importantly, our Vivid extend ability a users Betcha will to platform more win our and engage ways allows to that per and product skills Betcha highly live features to remains Seats interface allow our XX has social of our utilize naturally of that bi-directionally drive and an than placing ecosystem more with their acquisition central this customer to a acquisition allows believe casual Betcha within play sector, and engaged, We entries create app use average Betcha and monetizable month. December, allow online our engagement are strategy, to unique marketplace intuitive super fans User gaming long-term engagement and acquisition. into fans both adjacent together. efficient on TAM a can

excited to our leveraging our continue brands and with to and While impressed integrating and engagement to team We’ve small incredibly forward Betcha are we collective look passion expertise across and events. leverage a building live products been still Betcha’s is our all categories. business, for

awareness campaign ticketing partnerships continue exceptional of help this multi-year partner. deployed us And deliver Seats with brand platforms forge an we our renewed that experiences of reaches our solidify with as choice. deal ESPN Vivid as XXX to ESPN marketplace customers. We like across and extensive efforts to ESPN drive leaders fans, will our to their category partnership, bolsters than more as Additionally, ESPN, to media million Expanding to the our official new the part month. each introduce partnerships

Customer for customer the increasing to of continually excellent satisfaction. customer to officially in Coppell, continued experience customer a We facility our a providing we Newsweek new fourth has Texas. have customer the by service, remain Vivid been track record recognized Seats bar of America’s and the years Service. three raising last in we opened for Finally, one service. quarter, invest has Best Companies as committed In and

and raise and once again awareness proud built we efforts, support the to that in those we relief best to work in proud of to charity by testament this we recognized as music In causes year donated and million XXX one be is dedication strength celebrate success January, our in our have Our the leading Chicago. also help to ticket to were milestone States United I’m the team. places MusiCares, strengthen the music to a important MusiCares’ the in $XXX,XXX supporting families. continued to of their community of

all most help need. turn light in during I of Larry. over donating be those Cheers, this organization we humanitarian charitable are the Additionally, we for it Through our time. that, in will and calling Vivid will support current lending our With joining Ukraine, in peace the crisis, those to $XXX,XXX to horrific

Lawrence Fey

Thank impact again our you, recently, second earnings COVID-XX results, record Stan. the variant. ongoing I call Omicron once the am most and despite of with pleased that aligns

As fourth we company for GOV Stan mentioned, set quarter. revenues in records Marketplace the and

Marketplace the end adjusted each guidance year revenues of GOV, exceeded high we full EBITDA. across of addition, In and

QX sequential million live marketplace from Our GOV of a increase was QX’s events continued represents record $XXX record Marketplace the setting XX% of and fueled by return GOV.

theater, throughout by average from it productions GOV also QX attributable with to the mix, negatively most across worth Our in typical $XXX partially benefited That in Omicron. $XXX increase pronounced size and increase but The of impact meaningful along QX. in nearly average to seasonal improving environment size most numerous NHL noting the in quarter. noticeable is canceling, order roughly was with quarter is from the reflected said, The part in NBA, demand that QX college in a latter of Broadway impacted football. impacts the was order

XXX million revenues performance. quarterly setting by strong were of record our GOV Marketplace Our primarily driven

due by revenues Our event XX in decreased our take QX. seasonality basis in Marketplace rate, is which we with calculate mix marketplace consistent to from our QX. typical XX.X% by points dividing This XX.X% to GOV,

margin. rates with we largely Adjusted as significant which million approximate the will brand. sequentially, in fourth XX% historical an amounts investments Our of meaningful remain we adjusted adjusted benefits. and invested long-term take consistent generate EBITDA and believe adjusted underlying declined awareness brand In represents generated margin EBITDA $XX EBITDA, levels. markets, improvements our drove we meaningful which quarter, in target new These EBITDA

guidance, million our we $XXX in projections, At growth and year-over-year GOV XXXX due range Marketplace our for revenues our projected XX% the previously XXXX Marketplace XXXX revenues. XXXX Day ongoing forecasting guidance above guidance both Season the one with are we guidance, to XX% not to of Moreover, anticipate midpoint that to GOV guidance with $X.X occur of Marketplace of to revenue $X.X financial does billion, GOV nearly also note Analyst million. in $XXX lockout. Turning assumes quarter is our higher range the MLB billion than to roughly the be Please our XX% the levels.

year. the reminder, historical with take a rates program Our course remain fantasy $XXX of brand, cancellation contra thereby of infrastructure. our late scale the guidance $XXX aggregate categories of a the gross the investments rate This that new of We to revenue, XXXX. program full represents line And to anticipate launched in and that also Relative XXXX. to collectively the take rates in normalize when assumes million offering, incremental cost spend our in as reflects of build-out expense. XXXX, investment adjusted while our some compression loyalty over causing levels, comparing in We is recorded as company guidance these million the sports continued year EBITDA. million our our generating $XX daily public

well business the continue enabling is long-term that robust to that growth. our We us delivering are pleased exciting growth position of investments

Our If our building investment long-term. to performance historical from in our we scale additional marketing channels. contemplates our necessary irrational differentiated and brand, perhaps and defend strength leverage spend maintaining we our in over cost see shares structure marketing will budget even win continued the while or competitors,

captured but segment. a and the hyper of revenues expenses in Betcha Marketplace front, On Betcha growth base. in our is a phase, currently be small will off gaming

contribution do between million and scale investment G&A such, material properly net current this is XXXX marketing offering. said, to That Betcha’s our dollars financials. anticipate As to we of in not several

through the are to our brings to about We TAM significant enhancement that a our Betcha with category high relevance customers. excited

adjusted XX% be hand We I long-term, for believe With EBITDA back we in of closing to remarks. the it reap Stan these north as will continue the near-term of investments. will margins our that, to benefits

Stan Chia

Larry. with quarter. as first Thanks, fiscal we a our closed To year company out record another conclude, public setting

it’s more both Marketplace will orders with open our opportunities than GOV We for it And game. experiences drive I sustained on shareholder remain beats customers, Superbowl, balance us for had Seats identifying strong and clear is already And position financial our for record results beyond. thrill in and with strong Indeed, strategic that of combined a investments, demand experiences. robust sheet, exceptional growing well double with creating up Marketplace there a breaking and previous XXXX, and for nothing value. for record to our and and Our growth life. We believe operator, the consumer big focused Vivid that, XXXX the questions.

Operator

from [Operator Instructions] comes Suisse. Credit Our first question Ju Stephen with

Stephen Ju

Okay, you. thank

So, your to bit in dig Betcha. little Stan, wanted I a on commentary regarding

longer-term in just to So top than terms about Vivid fire a them. will to mean, layer larger rapid or think to that size visits? the happened be source can be Seats. The irrational serve more do operating about might a it to property pre-pandemic service figure the of the here funnel guess, spend leads? Seats, aim talk out that I And was how but trying may to the Betcha history? Larry, like remarks, you you, you little bit it a rational of your prepared you of you marketing in in might similar consumer which for perhaps irrational potential from as Vivid be other in And of for just be I competitors. talked often And has also,

Thanks. about So happened just of operate might and it you how kind what such have through challenge? a before talk

Stan Chia

you. morning, from Stephen, to good Hey, hear

Betcha front, there. signs I about still us On we’re really small growth, hyper that Betcha like we’ve the think, excited for that but is the seen

and with about an As ways. of The the the engagement asset that prior, that, in lower from live we entries category combine per as allow engagement order really products the components is showing building out of thrill forthcoming month, and a ecosystem think a categories it’s then consumers so that what’s talked about, and of space, both both I Betcha an take as in us frequency that we’ve historically drive channels, And remarks promising been or far, multiple events right, our ability monetize of have to been remain now really experience two the whether daily live use fantasy prepared really for event think enhanced think consumers. from that we channel I really in remain excited engagement live about then XX-plus to ticketing the exciting. and we as to

future, can the fantastic efficient think weapon consumer also to So, in it. really acquisition customer the we customer experience acquisition, this has as we’re I we continue look excited at in doing as where drive arsenal have a our to while that a

Lawrence Fey

a been been exceptions. eager Yeah, spreadsheet time functioning otherwise probably intangible that for landscape. part, StubHub moments on was growing. – would have loads for as competitor competitive ordering seen of tell sale, been aggressive that when the have a consistent it’s business most were rule, question, it’s There general type They than may reason. of I time, windows I’d a been that landscape. well point a you brief for in the pretty than the are other and show the to they more But to well

say different different comments we the to infer what value we we different repeat that made, is, about on repeat know If about when what a what based ability When have we the of see customers we good pretty people, think right, we you we across that, paradigm. talk irrational, rates the you, with hear objectives, industry, lifetime about rates.

when value, against have you into of so necessarily not say in rate that decisions their that them seeing success. future we current their math we’re triangulate to losing come visibility irrational, people what just in the are there made, we up which that into money spend, where lifetime take that’s a if around what turns view terms And negative are charging, you set and period, it’s being what

Stephen Ju

Thank you.

Operator

with William comes from The next question Schackart Ralph Blair.

Ralph Schackart

Thanks for question. the morning. taking Good

headwinds quantify into as about impact it QX the in sort would if guess maybe obviously as guessing variant Omicron you of be about of talked us help I and for and spilled the for well. the Larry, sort QX question, to could relates it But that impact either First Season think of be seeing as with if specifically would other maybe might be there helpful? in that or Thanks. guide and lump XXXX. relates the them you more And MLB variant, you end then market XXXX could the to sort

Lawrence Fey

Yeah.

it interesting. So was

mid-January, Delta a ways of think, less We performers, just I Omicron meaningful to players the in right, football, potent to college players, in but had our hindsight, they a the than Delta them a meaningful probably that mid-December. via was, certainly business did, than lot very was had. postpone ramp, Omicron meaningful getting needing with a for more because saw defined whether impact performers, variant better COVID like people was NBA it canceling as more the came really cancel of given about spike that a theater production, Omicron. month impact the or starting down would sheer in the it and of or number concerns, because or with And was about pretty and form continued took to health day throughout. themselves And events regulator almost a that and to concerns last

slow with a Now, normal Year’s business pretty Christmas it is for be happens to year. case our a in the to window period New

you things start resume. in in on see damage absolute January less December has will say to it I than recovered. basis probably So an when

in last it impact then given sticks will the January. an but the that we a the a all yeah, positive hoping we didn’t question ball. And year, get for that past, of us surprise we’re to happen. baseball, with the that’s night, on now to balance wish Seats but Vivid be had So really crystal And into

a that assuming our we’ve quarter season occur. So guidance doesn’t built of the

half As you weighted, can generally right. we are back imagine,

As to the it’s get you game starts the to matter if to into margin. and more GOV assemble more playoffs, impactful

First, that it’s still said, painful.

things conservative. a our season And so with I an proves it’s where currently unknown. stand, of quarter think hopefully But estimate

Ralph Schackart

you sort us see. environment, one Thank guessing have terms I’m the consumer in sort normalized you XXXX. what but to see isn’t constraints, want that you. seasonality a Great. through people get normally One sort got capacity be On walk for you more, of of Can of of typically that seasonality takes me might which out just year? would remind to of the puts help some you’ve XXXX would through the the in events, there think side, really well but you. Larry, and of

Lawrence Fey

Yeah.

playoff of Nutcracker we splits all sales evenly Superbowl XX%, you summer. a concert generally determined generally want the across one there normal QX, matchup? NBA Were following in to QX matchup? NHL in a which for roughly are and the see similar good might of about that’ll be season year, shows in like GOV and than it’ll another. So to predict higher then a a it The it So happened is next good sports NBA a result with invert, QX be The was and of Game on playoffs? lot QX, hard year, being by XX% holiday precision quarters. One Xs the remaining in to our beyond if often Was

gate, to QX bit you’d I But a than in less saw be equal, coming MLB for we think a normal be well out start. what all little QX have little of less with we given the for, that else to assume reason now bit than normal. this a

Ralph Schackart

Okay. That’s Thanks, helpful. Larry.

Operator

comes Our Jason next from Bazinet Citi. with question

Jason Bazinet

the lot I size, I appreciate energy just to prices prices, for secondary and as just it’s MLB question of I higher don’t tickets, demand energy a think commentary. we’ve been we analog. thought about had the how it since probably seen guidance years XX about Thanks. because you a have relates

that So impact just might like what at all it outlook and into how curious, add? your you think if you incorporated

Stan Chia

Jason, Hey, Yeah, it’s Stan.

really on average, XX% are elicit more is, is ever think see as past. tend project events excitement traveling about fans they of to out what travel And the I in than question, what probably from to think and we’ve to to interesting world live right? have this I in right? their we I fans continues seen XX% fans, I we’ve year, continued lot you, it’s that a to a tell think this events,

think size we So see being think as and as barometer order I that it about that where impact you the perfect landing perhaps, for again, serve intersection demand this of we of supply. about the would average as almost

talked that, where terms size you guidance, average think where here, can think I in order Larry we’ve about about been where of the think conservative I think certainly modeled if fairly we’ve and is. I you imply

modeled from continuing of I us. see prospect about too the we I So prices for the on are and much be fans. events think impact of excited terms think And where in energy the business, we’ve we to impacts live I’d say don’t

Ralph Schackart

you. thank Okay,

Operator

Khajuria comes next Shweta with Evercore from Our question ISI.

Shweta Khajuria

thank you the you think order size that comps order Could average about be full would you. should context think on size, on but pressure, understood and so and when you. some about – just Okay, how XXXX, commentary that year your it for the please helpful? provide do for context some orders. average tough Marketplace face Thank inflationary I even you we

Lawrence Fey

Yeah.

you So XXXX, out, the pointed after to we’re especially regression what pretty assuming some relative in as to historical levels. a was, QX mean, strong

whether I you approach. demand inflationary occur than that, pent-up that for not We there’s comments stacking bullishness, think or there’s just good when to commentary lot reason a more of make there’s that. live inflation, out think could even up, broader general Nation for XXXX nation’s reason it’s bullishness that that did take there, or Live you start hypotheses,

in we’ll have So that play if it cushion some nice should in. built way, out

I our a bit think tried to we more. stick knitting to

baseline. to around establish the we Day that’ll put had be growth and start get if a levels from to consistent assume And positive there news. we projections Analyst historical in forward our So closer pleasant from what good surprise, moderate

Shweta Khajuria

Thanks, Larry. Okay.

Operator

with comes Dan next from Kurnos question Our Benchmark.

Daniel Kurnos

thanks. Great,

me. a for Just couple

line shared on some your the you spend of our you’re And iron on despite of implies market. were do like thoughts. hot. most these forward look, some frankly, spends, mentioned? I Stan clearly obviously, And your the First, How the are while pulling this in that think thinking striking you are us you given brand hanging their process gains, guide all this year headwinds mean, with headwinds. in because is of gave competitors guidance having about were was to difficulties what guys actually sounds probably It line kind of that just, with

mean how that LTV obviously, LTV/CAC for negative there. doesn’t it it’s just that knowing think LTV that Maybe you and So, balancing commentary, negative about that, but your incremental necessarily do might be that for start then you? them,

Stan Chia

Yeah, Dan, sure. Yeah.

consumers and think quarter And for to we’ve if in forward average, such saw, you saw channels. objective tested think about in that certainly us. multiple brand continue about where we really indicators we the markets primary double-digit our being driving awareness being against pull holds, strategic increases a excited from I fourth efforts the up in positive be and pillar we brand value long-term awareness really been where long-term on

think, I that. So bullish on

ticketing, allows through from brand immediacy us. I story then and competitive As think into higher a the can I look of to drive some And two a think actually lot to one then when landscape a that the the irrationality, think altogether, specific we I the the in industry. you’ll cross-sell of the of opportunity distinguished see frequency then Then what mean, way our engagement, immediate strategy. across we that’s do leaving we because things, I mean, that around channel about message that proposition think landscape, engaging comments the some with this Betcha year reflect we I

nimbleness, back. of the go-to-market technology perhaps as team And our to last able I the that to real have. some that’s testament thanks think, certainly came events our our we to prowess, and As year, a and you very scale, mentioned, quickly, were we technology

think to our think assumptions compete with of I no we not we go And make we I them. year, look at are ready, As this ready competitors right? that all are

prove think landscape come And I tying the going look, been, to us new exist, establish confident certainly entrants I here, look goal faces every players comment product the as us, that a we that I other differentiated need the in a at back out. industry, great themselves, as to even well need are try for to that’s that irrationality scale. on those economic to always there value. with has And have, the consumers value, who as industry experiential subscale to for it think then for we think are

great here with a We’re product.

We’re balance sheet. great here a with

point establish to should so And win. we’re and here key to we’re and fight, look, going our people we’re is, I doing themselves? fight this think that try to stronger

think looking dollars certainly with how competitive year. line the deploy I we’re assess I that’s at at landscape how this and in So look however that

Daniel Kurnos

other gave Got it. then And the been in number That’s think of about work side? on, part, the us some think for the people helpful. functionality will out engagement on do differentiation to building to need again, and just strategy. several peers talked investment the to know I just to the of touch $X Can that’s huge between of I a been obviously, Stan, games you differentiation, them, obviously, you’re platform want things million out it’s social be either you about Larry highlight I is but the and on component experiential that granularity to continuing that just reasons, you you chat going all relative competitive user you’ve on whether things out, scale some more might how engagement build a offering. give Betcha to not that rolling some the

Stan Chia

Yeah, about talked about we’ve this, there’s right? two sure, Dan. think I Yeah, first I maybe think buckets, one. think the I

I doing I what is that about integration, would dramatically there. think maybe the we’re brand think how

a of lot for proposition think and different, us synergy. consumers, I affinity certainly the I with think categories to that think about right, have two as we but appeal becomes

also how the teams make brand live to provide integrated going kind really that comes that way drive present certainly opportunity those hard right from working Similarly, what and opportunity are Marketplace, elements is work us cross-sell our the Betcha, across to hard the at with our sure the a where offerings to engage to to is think to our we’re event presenting So we right. be product of categories. to while go in

ensure long-term that integration that would So investments us make think two where LTV customers acquire hard see product and the work as the you’re for us. to experiences,right, frame I to the continues strategy, I it I be positive to channels we to and that’s we continue to those one ways, going the on use is think

Daniel Kurnos

helpful. Got Thanks, it. Super guys.

Operator

D.A. from next Pazin Davidson. with Our comes Stefan question

Stefan Pazin

Good question. one just you to have morning. rewards how is your compared expectations? today. sales for to Thank your contributing you I taking To my for your date, for

Lawrence Fey

Yeah.

few a program we things. say loyalty I’d So One, the in out revamped rolled summer. the

in low industry, touched on we’re a evaluating days So frequency still in we’ve pretty the but this industry. it’s in particular, program, before, early our

that two, per You’ll maybe is often a three see fairly folks orders place one, year, distribution. standard

So take get time. That pretty bit some of data that we still with COVID to this, caveat our are through impacted. that at I’d to test a repeat in with our some are signs time an I’m one cycle, in encouraging said, that all rate repeat process. that seeing early say fairly a and looking we important

pieces that that don’t and had a lot So moving to victory pent-up cancelled, we are the you had postponed getting see, some early. too encouraging. normally But the demand playing in out gives hesitation of indicators summer, declare you us events had the you

Stan Chia

Yeah.

a brands which that message signs to seen think think And building think path. is The key one we our I certainly, us. that mean, about brand with of early other encouraging part add other fact we to I mean, the thing is I’d I on rates, we’ve terms a to that, are kind I move rewards message, in in talked to repeat I continued just brand go resounding rewards the intent we’ve going pieces, awareness that of from the funnel only into tested really some success value, out proposition program. we’ve seen downstream of channels, the as you that And as awareness lower I the fairly think up. there

acquire ultimately consumers, that allows I looking to it on them. about of think So drive us drive out excited we’re well behavior to the the how prospects repeat as as

Stefan Pazin

taking question. Excellent. Thank you for my

Operator

Maria Our Canaccord. from comes next question with Ripps

Maria Ripps

year? wanted color incremental your your embedded all investments just benefits sort of I be latter of of but Thanks my marketing what incremental the to outlook in that all could the the in to forword Great. currently and on you’re Or to of extent follow-up the for some that. With expecting? Appreciate what questions. those around taking outlook, the this year, part

Lawrence Fey

we long game the hope the you for cautious lot part, you’re fairly to to say you take I’d to answer funnel. inside of as continue take putting alongside hard see awareness this the continue and [ph] Yeah. a similar brand numbers indicators a investment the and build around view most to posture would a a seeing loyalty, move folks on through the is

But way ground putting projections stakes refrained meaningful into I the at in that encouraged. putting we’re a So have this in from and point.

Maria Ripps

sort of following to what milestones about Betcha, into are I the Got up Is fantasy visit the fantasy, then sort key that broadly, anything some and how of sports you on it. between then brand That’s for And are mentioned more sort of of, platform? of your just highlight the know, online there? helpful. sort opportunity betting? integration. daily thinking gaming there in And else you integrating

Stan Chia

Maria. Hi,

holistic and thing can the first engagement where we to milestones, testing and there. ways consumer ability is enhance to truly experience there. the where think, certainly, again, engage understand the on I to appreciates think sorts we the in a are consumer of both drive we’re I aspiring And all frequency

from we integration up channels although you from that when would say certainly to got integrated milestone, learn components capabilities multiple drive that just CRM significant think are you’ll be in of what there. for that see, is products have, the we some we’ve learn show and I’d – some I milestone the a of our look testing already through the

as us in kind into at our monetizable a serves to terms ticket going and But in fantasy drive of look evolves. TAM with as and question was therefore, Marketplace and On something are option about, first our we think the view on foremost, our and we that. think into landscape, really I we’re [ph] and the of kind of I we that are on I other an daily at acquisition certainly drive be think define as sliver remains excited things sector how a right, that we our the engagement ultimately other for channels maturity is And core that Betcha, expansion opportunistic to that we’re play consumers. but certainly Marketplace, to looking look, adjacencies on

Maria Ripps

it. you, Thank very Thank That’s helpful. Larry. you, Stan. Got

Operator

Marok Our next James. question comes with from Raymond Andrew

Andrew Marok

you one I taking of stats to for the my question. dig your on wanted remarks prepared on in Thanks in gave that SkyBox.

do or what of sellers, you them that new capabilities are or is functionality getting from SkyBox? into that’s from addition Thank What you the sellers increasing added, effects? network feedback that is incremental receiving the just – With you.

Stan Chia

business Yeah. SkyBox Yeah, We’ve think the I got platform, that Hey, I space. think better, fantastic fulfillment continue leading sellers it’s offerings sellers that wonderful talked to the to our in Andrew. the around. grow appreciate. data allow there, capabilities we think right? And folks ERP our their We’ve enhance the in be, continues I offerings technology, to we’ve that to got whether

them. to it’s the that would folks of think ability, that allow it, better them business allows at and our, to with free a them without, combination that to if fulfillment economically the like than offerings, the call run they technology fact at then I data their be look combine cost the grow business, structure again their

platform. and I think truly us the has we that see three continuing of all dimensions proposition helped and value of to lots those continue interest differentiate adoption therefore, in

Andrew Marok

Great, thank you.

Operator

questions showing this not I’m at time. any further Now,

this does thank the So also conclude for today. We you for conference participation. your

You and have disconnect wonderful may a day. all

Vivid Seats (SEAT) 10 Mar 222021 Q4 Earnings call transcript