SEAT - Earnings call transcript Q3 2024

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Operator

Good morning, and welcome to the Vivid Seats Third Quarter 2024 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 Africk.

Kate Africk

Good morning, and welcome to Vivid Seats Third Quarter 2024 Earnings Conference Call. I'm Kate Africk, Head of Investor Relations at Vivid Seats.

discuss and results Officer. Lawrence to Chief Stanley today Officer; Executive Fey, me Vivid are Seats' Chia, Joining Chief Financial now, released access press have everyone third By earnings quarter to release, this earlier our we morning. which should supplemental The slides on of Seats are page investors.vividseats.com. earnings website press Relations well at Investor available as Vivid release as the

call, that These described the to non-GAAP report our which and other Stan. reasonably could and their would that measures refer risks risks meaning of slides. to and the investors. the course adjusted statements measures forward-looking financial within to to our for And these margin, turn results today's of supplemental extent with During actual earnings earnings recent corresponding XX-K and filings To measures our useful subject be securities cause today's release, we I the non-GAAP forward-looking laws. of financial differ make and the annual are call, the release most EBITDA provide reconciliation Form our adjusted uncertainties in like management call may including found press are press information statements now in federal available, on materially, our uncertainties can earnings to to GAAP over a our EBITDA will SEC.Â On

Stanley Chia

Good morning, everyone, and thank us today. you for joining

financial operated success market and and on stickiness in that the solid fostering delivered headwinds will we with both sellers, in quarter. we prioritize our by progress and despite excited quarter temporary. I delivered believe am true Our third be long-term that strategy to to discipline to front third always has for buyers share strategy, results that been Staying we marketplace the

Compared away delivered demonstrate highlights, To of backdrop and short results and which we was in Larry was we digestion that more those a a the in year in some quarter.Â As we as XXXX activity strong margin. XXXX the supply from demand again. strategic when soon Concert XX% lower notable year and XXXX the which many like going a million sale including in away on years with XXXX reduction expect in in now for concert of an many dynamic, for stadium the midst stadium calendar, on and Before normalizing the dynamic. will are that up financial come anomaly, the to held and our ongoing ahead, are concerts, shed reflection believe industry for I'd delivered, that artists and of theater including acutely are record I'd XXXX adjusted XXXX market consider most highest be with we this is ever. intersecting Overall, concert which industry XXXX concert prices. discussing counteracting economics of Partially the reflection should that shows XXXX, remains third mix played events activity we growing in concert even the with, we will stadium events largest look declines $XX shift tour abate.Â Looking an naturally would that robust venues, digestion the prices. factors EBITDA sports our market that when supply more and in in artists term. we strength quarter, short-term albeit confident cover discussed, unit a others compared to in that deliver growth volumes for million begin announcements evidence of the We a live most quite command popular there next demand. we concert the like ability on not year factors. as in $XXX forward seen in seeing concerts detail.Â In EBITDA, we revenues to supply of normal XXXX typically venues tour These XXXX in and a of live adjusted forward.Â We smaller in touch supply nicely more light headwind with and The was have to in the we in shows, playing and the from as to favorable are have remain year-over-year reliable less industry believe long-term sustained third that with progress seeing ticket market to is tailwinds the the this with

quarter and is high we volume uneconomic continue intensity demand the on at term.Â We or of focused competitors stickiness strength supply long-standing Accordingly, near backdrop, with of on in behavior was our fostering growing are poised are marketplace. business marketing on economics the focus upon to in that believe our leveraging market on normalizing least term. we long-term and the unit alleviation marginal third a our Beyond certain where in strong the to the backdrop, competitive capitalize investments winning focused long in are upon volume any building and

we continue Even Stewart officially mix now joined Directors. of into driving excited long-term lean that initiatives of are repeat our via that customer marketing orders Adam an important new our remains Board to as performance are acquisition has channel.Â Accordingly, higher, we

us that strategic be wide-reaching advertising long-term a to quarter, with and quarter, increasing with As we including efficiencies we knowledge quarter. key drive seek Google, media the ultimately, and exclusive audience celebrities, Athlete. will and for I'd to content. new sports very social with followers. also The All-Pro those acquisition continues about across engage sponsored NFL and differentiators platform of fans third appears of with creation including penetration social further brand awareness base addition with Brandon receiver our partnership on athletes helping of third in impressive which our partnership through a episodes platform, as new with brand, consumer engaged athlete-led meet delivered brand channel.Â Now affinity integrated announced have our Adam for former to brand to Adam's built and the extensive already household passionate priority, Vivid IM joins and at millions In for channels. approaching sports Google.com. in new briefly Marshalls promoted partnerships to events.Â In expanded content to including be brand decades featuring best-in-class X this to drive audiences. growing native IAA presence, progress Seats we in solutions, live is the and awareness engagement experience has being position a are channels Efficiently conjunction almost strategies strategic in unique expanding the that This last valuable customer turn key content.Â Our current his touched overseeing like we an to during with us the organic and new partnership that and is channels entertainment, mentions and growing fans, our a leveraging we also accelerated impact to are our In demand efforts, is these compelling grow portfolio drive XXX,XXX way

to are which marketing in frequently XXX,XXX similarly users We Center differentiate approaching platform is the translating our playing playing, through proving we've Center, in tickets users browsing Game orders. engagement past, which shared efficiencies continue also efforts lifetime our while and with is app.Â As games successful to drive Game our app

a expense. occur XX% nearly such as accretive, investments Center program or efficiencies highly on drive Early users Vivid customers, we whether through incremental from we marketing to progress game began take ticket have and complementary our initiatives to through within our center engagement Seats other Seats run.Â Next, and forward look Game share orders to these to the that Vegas.com on, We of through our in cross-listing are more synergies incurring our Vivid industry-leading we app, X efficiencies are continuing to that now repeat Orders moment highlight room I'd driven with are excited as inventory Rewards Vegas.com. like from initiatives acquisition. to

excited promising to nearly orders customers. in of new with customers now to campaign start are at to share quarter, cross-sell customers. and orders we is is cross-sell run incremental campaign discussed rating Vivid from customers XX% We e-mails Vegas.com approximately Seats last our GOV.Â Additionally, convert their our markets cross-listed to inventory This bearing of fruit Seats opened being are converting home a Vivid as to marketplace by X% that and off

Vegas.com to profitable contributor more home, event next back to GOV their another live purchase edge believe be As growth. cohorts we will ultimately channel this

As strategically in we to about our think building out make investments continue platform. we with TAM, great our global our progress

we we our in we've and expand our are scale As discussed track by and remain geographies. the launch operations year. as on efficiently across focused of TAM end the select We previously, capabilities geographies to to platform internationalizing

was and pricing innovative On side met announce Drive, of recently demand. exited marketplace, to rapid our seller beta excited we its phase the are tool, SkyBox with our that

and in also result, over a process waitlist of already onboarding users have As sizable a prospective of the we are users. XXX

with The ERP remains of and wait marketplace remember to stickiness run the businesses. of that already We SkyBox further is SkyBox It's significant a added hundreds XX% the our which We their Vivid turnkey, of SkyBox on our of the functionality professional SkyBox professional that fortify exclusively using sellers our and look step position are of Seats SkyBox is pleased ERP product, Drive with will the list. to with integrated our of to additional the our leading exclusive industry-leading forward sellers. with enforce and incremental over data. ERP power leverages adoption driving sellers to our reception important

fifth Lastly, Newsweek's Service for the recently the America's I wanted was Vivid to time. ticketing Best included Seats list in XXXX that in of we announced Customer category share

strategic and As are Newsweek industry, the a customer through fans synergies be substantial exceptional with unlocking creating during summary, experiences proud Vegas.com made In with to progress and is on the our Drive. full of most SkyBox by our again recognized excellence service. in launch we company particularly rewarding the for focused that quarter, in we

North and stickiness to flexibility that products will confident quarter. initiatives the and we in America are imminent growth international value to continue In and meantime, our marketplace, the our drive in in platform with operate abroad we differentiated our third launch. demonstrated will long-term We with the that both the and fostering discipline

With review quarter. concert the for it and organic to growth over continue return long to turn detailed to we will double-digit Larry term. With to XXXX, growth over of I that, more delivering CAGR growth the in of anticipated a expect the return a

Lawrence Fey

XXXX, year-over-year of of quarter size the Thanks, order a X% reduction generated was driven third decline. GOV, year-over-year by an marketplace we in in total drop marketplace Stan. The GOV $XXX year-over-year and marketplace in a XX% In average orders. decline million XX%

cancellations tour unit third were orders. quarter, revenues $XXX year-over-year marketplace concert decline GOV lower result in delivered X% resulting in seen year-over-year. in AOS marketplace concert average XX.X% order in softer in lineup, size led part AOS, order marketplace flat up bringing roughly GOV. average along total the acquisitions XXX a which to order economics of year-over-year. a with quarter, on to X% headwinds adjusted AOS $XX of and strong note forward. a from third million soft the our also stadium large pressure size the CAGR, We lower slightly our a We in the higher since third several is the CAGR Despite at Our XXXX, points moving quarter, a delivered We and X% organically which EBITDA despite rate, would were of expect sizes. third the delivered by quarter, basis there million take grown continue was we I average has was to which

lower marketplace We are pleased despite than GOV XX% with margin anticipated. our EBITDA adjusted

incorporate now We $X.X a the the in concert be revenues of Marketplace $XXX concert on the XXXX to These well adjusted revised expect EBITDA along million expected XXXX intensity of in and range billion million as of range for guidance. dynamics to as on quarter, GOV the $XXX Lastly, $X.X remaining of range range continued ranges sales. million with challenging billion, in to $XXX XXXX in outcomes to supply marketing $XXX million. XXXX fourth

concert We will to return continue growth anticipate industry Stan. and to discipline in with you, the operate Back of XXXX.

Stanley Chia

consumer key acceleration industry quarter demand that, growth let's for an growth supply. live questions. XXXX to up, and in continues, our strategic as live events the long-term we With events profitability. platform up in we for expect third open for it operator, Strong and continue in and delivered for favorable intersect with position tailwinds Thanks, Larry. progress Wrapping normalizing

Operator

James. Marok instructions]. [Operator with Raymond Andrew

Andrew Marok

like the We could and XQ was XQ bit. little take recent rate I looks in if little back into you a XQ come dig maybe wondering above bit. coming a saw down up trends, XQ, guidance is it implied

just into the that. So if your could some wondering and you playing is maybe that drivers into loyalty program of get how behind

Lawrence Fey

in QX as on think take strong I QX. Yes, rate and you Andrew. Thanks, performance Yes. noted,

try to take we think that volume take some think can which to of true. And think we're some a And couple always on looking to imagine, also rate want I make that's a So sure combination of continue, that rates, how you we're push flexibility, accordingly. depending evolve, inverse volume. the environments I right? of we of if as factors, will market and retaining to which flex you on puts is ability the pressure we and want balance

a I'd speaking, based World mix. piece the it will World high high this vary event. of generally say don't would call Series the unreasonable business, scenario. be take this second that deflating rates. matchup year, a ticket percentage have will I Series think The Series on on is a And or World of effect dream But book to the And increases as quite AOS when

I nominal create while bit you a percentage pressure. rates that look think very downward at when that's a on of nice little basis answer a will so take a And

Andrew Marok

pandemic. to something a is to based cycle, years, think fans know since then normal hard when digestion artists digestion But higher-level this see of just you're kind as Got kind it. like maybe when been may jump couple Or it it a has big do the queue. year? about decide back ecosystem, idiosyncratic come kind argue you question I a on the I'll that. of a overall as Dream of being in talking scenario, of I tour? Yankee largely the of and year, normalized a But big 'XX to with But kind that's a environment, relates by in

Lawrence Fey

into multiple a it's categories I and sign or can great on of And often question. that drivers predict use across multiple leads The most Yes, to phrase difficult various have variance event together more that happening curves is you side we mix. blend our can think trend. a the

were the bit top when QX, number a last top which the the exclusively lineup on heavy, you and across to think of a the story the was concerts, diversified strong. comps I focus So challenging if is was quite at Tippy artists. is which where concert you particularly saw this quarter, of particularly year of strong But more ticket

right, sports. You we a football on had you'll a into number If move year, up, just QX, in year, this venues. touched good meaningful a match playoff college not the artists script football story, little had distributed a bit so we there.Â Flip college playoffs. we more smaller in a up. lapping fairly different to bit, This playing little of into really match playoff nice a Heading 'XX, have expanded headwinds

ticketing set So last Series matchup World you're probably from year, this a nice up mix poor Series there. World Great event for standpoint matchup pretty year. another

this on you So tour go the record-setting to theater, had and year, last happening sale Then those you Rife thing Matt not same happening competing. a are year.

challenge some some together.Â And event And across and can all to so of exogenous it is those go. oscillation to based to and the fundamental level adds really where it of think not it will much you map But fair the do indicative headwinds, precisely in which tailwinds, assume I of of on trends. is mix, have you of sort have categories, predicting

Operator

next from Maria Our come question will Ripps.

Maria Ripps

how robust can year maybe sort more weak talk year, normalized sort should of you for industry more about rate? I growth of potentially your a guess single-digit comping think First, the broader calendar given supply to a about growth next relative growth concert the high expectations we

Stanley Chia

think excited or the there question. more year, to industry forward certainly secular we've a I that I I a well, maybe be I return the seen artists we've will in trends and in distribution think, next category.Â We've side, sort about bullish about the really that as to retrenchment in others color we data concert strength think, remarks as been the Maria, others optimistic use discussed adding digestion how this back as and year. the seen stadium had much the a we next we thanks looking where that we reflected of you prospect. stadiums, we certainly we forward about remain, saw little a And the certainly looking the look slate think I think Certainly, I continues the as And for we versus we've well. as arenas next and remark of today, we've the for have I in remain available year beyond remain it, tours as tangibly, of at bit think and look, to the itself. Yes, unveil the heard, what on think prepared larger industry venues of by on concentration year

Maria Ripps

then And sort your guidance it. of I or just little year or color a on guidance. full get more QX QX Got to bit wanted implied

of I support prior just sort more what So guidance suggested should Can maybe some of your concert anything events here recently? you sort is think of of mind sort there here strong it little dynamics about XXXX in bit lineup sort QX. year? just timing later to into sales the those that the Or of here, them keep that changed sort kind else a understanding talk Is shifting the has weak. with of of near-term in of

Lawrence Fey

Maria. Thanks, Yes.

there's think happening. things I X

sales we've commented concert the first, until And the slate softness The I in that, on wave think that you think softness in numbers, continue. presume QX. and can happens next the in can in see of -- on would mass, you I

Soul. continues not to yes, of you on still the calendar.Â So performance victory of extrapolation. is we about a there's robust and talked in fair right, Oasis, enough So bit speculation. today We've QX, it few, seen being in hopes for then, robust declare call into a concert unreasonable start September a Not calendar. the softer-than-expected And Roof Coldplay, and the into expectations a have It's as space an we as saw moving August it, October.

we been positive acknowledging so comments, a just closer tangible there's to those it's reflecting manifested was while to And in positive what reliable what comments in yet. tried know where mass strike announcements balance that we haven't

Operator

next Sigdahl. our fromÂ Ryan question And comes

Ryan Sigdahl

I several marketing actually estimate by their flow That's a cash mentioned nearly even customer half Moody's that. Stan, theme near-term your for evident which with million longer-term checks been quarters. and does headwind, one guess is you cut it strategy of our now rethink in then free $XXX on of on intensity. ongoing and you Vivid's scale well, make But high this maybe consistent common as given competitors, it's cut acquisition? and

Stanley Chia

yes, look, you've in your uneconomic mean, I what I aggressiveness take go research. volume. on spot Ryan, and out, I think the with of when seen certain Certainly, point think, others to

make decisions would think we I as the prioritized say and investments I seen faced we make, results, if that I have loyalty think, by, that you've the we in target, investments our term And volume almost, both fairly continue value, the that leading we term. and evidenced program. to right? right? I we're prescriptive mix, what ecosystems with the our direct you to have think do differentiate and continue the about think I we've to certainly think always industry's long us near long-term always our about is, allow be product to

in You can products And quarter, deliver the of fortifying across we sides marketplace. to evidenced the certainly have continue to ability strong even the that both see us supply unit economics. challenged a as

ability I a think the long pivot opportunity. the we and market certainly from and always pivot what environment a execute I to to change, how discipline is focus think in term, you'll So on nimbly us see capture should

Ryan Sigdahl

are is a early SkyBox seeing most et evidence kind question, launch. sellers, new users early you that Follow-up But professional the the across on? with on know system with customers, further where into as out the I cetera? excitement? Helpful. seeing giving Is cetera, it it's Or smaller ERP are on that? way board? ones it the existing but of the is testing it the full to bigger most of market et onboarding, beta the Where you success with Congrats that moving Drive.

Stanley Chia

I question. great and adoption think surprised excited Look, pace the it's we're pleasantly excitement. the a of at and Yes,

adoption. the heard of And out think size. platform beta. apart, in as certainly people you we've I we're remarks, it it's the certainly, think already of that I the sellers, over of brought XXX and We've interest think onboarded you seen range piecing across rapid lots maybe as as onto about

integration little If users we as turnkey about skews Vivid bit no so, existing, users. this you we board is it powered for to existing to have product now an you that the existing And meant effort believe access Seats users think that's has think stage naturally to SkyBox and folks bring wonderful industry-leading where unique -- about on early new and features versus SkyBox be to was the can that in marketplace. design differentiated almost on versus they by it data a to way

about So surprised seen, and early we've rapid rapid, very days. in really pleasantly again, I these adoption think, prospects the as optimistic

Operator

Kurnos. Our next question comes Dan from

Daniel Kurnos

going means I'm Stan, just few these common topic, is administration sports you antitrust maybe, that a -- just give very what in to to secondary in any thoughts seen Great. on rapid this M&A I the some trying we've consolidation and just in sort venues change but the delta price and the of space. or for on a days. Also, know Stan, fires. either thoughts

And lastly, a kind that that know do puts thoughts noise mix, XX% we might venue of kind to any to And primary. to and being maintain but want just free there want a of just cash ton there's then and of pieces get just on XX% moving for cancellations to here and gap with So about? to get are sense. able with conversion your I we back when just think flow-through? dynamics, other takes Larry,

Stanley Chia

rapidly respond well. to Dan, We'll thanks as rapid the fire. for try

On still say. to hard so days, early really very the first one,

what's it will across is be will there there. there and spectrum change the that be think certain change, like I looks

pulse that on that us, for will to watch and think everybody industry. we else, along with ensure have the sight line I what and so means And a continue of

secondary all you're the seeing to rights really perhaps allude think, That And we consumer participate benefits remain greatly you on side, the strong. incremental I as ecosystem from who one, second think that fact that the the venues, as venues, distribution holders. distribution at, a includes where the look the on centered the you I provide includes standpoint. remains certainly I really On that

remain And confident the together growth as continue consumers, this we look platform working for choice, so continue future, frankly, to that I across ecosystem, and more to really think live option, we for look distribution of industry into prioritize as lots the this more and will look more see events moving forward.

Daniel Kurnos

free And question. cash Larry, the

Lawrence Fey

The and capital environment. the cash offset flow. conversion. in to about that's with from changed conversion plus from flow that's our normalized Nothing's typically belief CapEx, talked got line guidance of and less taxes, a EBITDA a to some the XX% benefit What in float. fundamental by negative, our we've by reduction our model in We've cash We've then growth bridge as actual EBITDA sort have seen come cash that's top on from and the And evidenced with you balance XXXX interest sheet. growth. bridge our certainly to working have in

And which line, meaningful XXXX. meaningful so turned working has XXXX, a headwind in into was a tailwind that in capital

of them sort it capital then view conversion, that which attributable you you we and a is the XX%, conversion. working benefit. against the in bit higher by a This XXXX, look that And year, across, right the you'd approaching quite cash if smooth XX% And percent target, quite our rate we're that vicinity gets when bit, had 'XX be trending this closer a so normalize But in than you range. XX-ish below when a across to generating back XX% to not combined to of cash our growth target something we obviously year. 'XX, cash of

to forward conversion to as things steady, assuming to return that I look paradigm growth, XX% So XX% we right think assume. to remain the expecting a XXXX, is

Operator

comes question with Cameron next Morgan Stanley. from Our

Cameron Mansson-Perrone

I can. if Two,

that was from. about First, channels, across the -- and some next -- you coming I into the if color which is the give where could think industry as potential wondering provide reversal heading headwinds then on pressure year, we

There So channel it's whether bit whether sale little kind a and unpacking or a extent it's if broader some that across whether primarily on question. recent a Oasis headwind, tour headwind headlines what dynamic, it's on -- broad-based, that seller industry of just consumer-to-consumer being ticket happening, resold. relevant. to kind were was of around professional cancellations of then the inventory reversal And it's

any I'd that thoughts was real just you But of one-off could regarding direct be guys. impact more that on you sale, just not on a curious think any common a or that if that's become U.K. to situation? see the you you kind whether maybe have as I think so whether practice

Lawrence Fey

part. I'll first Cameron. Thanks, the take Yes,

well. a been had going consistent put As that a would out it's and soft, type if with the that. we rate, and outperformer. And typical think comp has to say quite [indiscernible] trajectory. their of level would seller. I as typical there's some or Sports delineation, then throughout I at about It's flows -- the has theater, that strong. category's category frankly, out concerts, particularly in contrast where headwinds, been challenging end call delineation not soft it a concerts would QX, between started and but above look I quite year, the you year-over-year the long-term in but strong I growth strong really nice year, sequentially

posture, have select been channel. So it's really year-over-year is uneconomic earlier soft, not way. it, been that think is the pressure taken what's to aggressive alluded orders, strength. And sleeve where a which but headwind sledding through been really and GOV, theater been an That's I sports on slice discussed other supply a meaningfully on our more have be tougher belief a on would of been has competitors the marketing and and ballast Concerts think we it incremental demand been issue. we've certainly has that's what where relative dollar by by a a put weakening.Â The our are math, call, this in that incremental the marketing performance the coming have and it

Stanley Chia

we that your ensuring it, to we And more pertains great -- just I yes, very Newsweek buyer Then provide in the to think, I wonderful I always U.K. platform service And We've as similar we've I selecting think think see, think we've I tickets. -- And other think, of lots looked question, we've guarantee. you at got distribution. at I recently look again got we think space, Cameron, ticketing. continue a consumers by Yes. think read I the I in strength think recognized for as a to best that we consumer that been

and that continue forward. provide And security confidence think platform moving with a so investing consumers in to continue we'll I for and

Operator

come the question next Maxim Forte Group. Thomas will from Our with

Thomas Forte

So and the give one international sports some trends, sports, in current fast-growing events held one question and thoughts on to MLS women's you Can follow-up. your both expected U.S? the soccer, professional emerging of be

Stanley Chia

really of forward, mean, that see, great I think, record-setting earlier the to I then stars for continuing Tom, yes, as year continue women's NCAA those into certainly with and in performance we what I moving year -- WNBA. as some what to move think started progressed the

those see in growth excited, So about continued I think that they contributors we categories and I before. to the strength think, overall ways and being there, remain really we've to sports haven't

Thomas Forte

M&A? investing time buying question, then in capital on thoughts for And the either allocation, strategic again, back follow-up this can business, my current shares, you Great.

Lawrence Fey

Yes.

I same priorities think remain.

on difficult our always and been us lost financially historically. multiple look not lower targets. achieve than It's it's for the latter more is is when will We accretive that strategically part to

can the will evaluate we that bar. chin as factor be So a what

as is you basis trading yourself you're basis multiple a relative versus assets, explore buying buying certainly, a where on also it a on back think other I factor.

the there's attractively keen ourselves we as continue remain best some touched on to but something is as the cash think we're back that, how And priced growth, I in execute we've resolve. On generation right, latter, to around to for compelling. that we does incremental it considerations past, believe buying us to interest and return when of

Operator

Our next question with comes from Blair. William Ralph

Ralph Schackart

Two, could. if I

terms us as on Just give think end just temporarily in of some Stan, might by of the growth. the sense versus incremental about remind kind nature be international, competitive a follow-up, in us those you you that year. I what then of launching talked here? a of markets of And and maybe maybe opportunity seeing the of just maybe

if sense start seems you give Do I about sort to how that X% you just contribution? think pieces of that opportunity. from talked about further a Vegas.com. of GMV scale like in a you're cross-sell frame But have that initial GMV at of Or the could It opportunity. thinking here. good coming place maybe you maybe

Stanley Chia

thing. Ralph, Hey sure

on think are to I components we're before well track we've track I the progress make I the year. good think continued the and infrastructure platform, in think, of I first launch think internationalizing right? end and certainly one, the on the to on of underway,

the see a dynamic opportunity we to in as and very and continue we landscape competes here competitive look our domestically. big like less our optics a where nicely international think certainly to product than be feel offering research I from what

but our that users, landscape we people it introduce aggressive very I paying Vegas other will days, out and are very And dynamic say, have would in and from invest think and more in bring CRM that an those to when product one, the meaningfully you quite compete are the about rate campaigns tap driving the to the seen, can think, rate a about, fact run differentiated acquired a where from competing users really nice a free well acquisition synergies the had think early selection.Â On the which we the so large for customers ability we've we've has and platform their compete to that add cost the that when at channel, meaningful acquisition will as a X to there I'd Seats. say, some the we've that as excited where with proven excited looked we highest and really, I side, the home of a think All business, so accretive benefits be Vivid about back you've them is that seen, we metrics we again, still, has Vegas inventory excited those also and we go at we are I landscape.Â On in think as front, are manner. to that already into that, I that a profitable continue markets across open about as we do and I incremental primarily driving home go performance we X%, distribution channel

Operator

today's in your concludes participation call. Vivid for you, Thank conference today's everyone, This call. Seats

may disconnect. Thank You now you.

Vivid Seats (SEAT) 7 Nov 242024 Q3 Earnings call transcript