On the Eventbrite Q2 2022 Earnings Call held on July 28, CEO & Co-Founder Julia Hartz remained optimistic as ticket sales continued to increase.
A San Francisco-based event management and ticketing company, Eventbrite's website allows users to browse, create, and promote local events, charging a fee to creators (those who create and post events through their website) for paid ticketing events.
As the live event industry continues to recover from the pandemic, Hartz remained encouraged by Evenbrite's latest earnings.
"I'm excited about the surging consumer demand for unique and local events which drove a 58% increase in search volume, and a 37% increase in paid tickets on our platform," said Hartz. "Over 10 million unique buyers attended paid events through Eventbrite in Q2."
This is the highest level of consumer activity on Eventbrite in two years with an increase in attendance happening worldwide.
"Events in music, performing arts and food and drink are particularly popular right now," noted Hartz. "Ticket sales in the United Kingdom and Australia are now 15 to 20% higher than they were pre pandemic. North America was once again our fastest growing primary market in Q2."
Hartz noted that it is Eventbrite's creators (artists and acts) that will aid in the company's recovery, seeing an increase in the number of creators on the website and establishing the creator collective to help increase sales.
"On the Creator front, we announced the Creator collective, which is a group of highly experienced and successful creators who will serve as a customer counsel to us," said Hartz.
"We brought on over 100,000 new creators during the quarter, and this year's new creators of paid events are outselling the levels we saw in 2019. Total paid creators on our platform grew 48% year over year and are closing the gap to 2019 level."
The company posted revenue of $66 million for the second quarter (this is an improvement of 43% over the same period in 2021).
“We expect to build on this momentum in the second half of the year as we deliver even more capabilities that help creators expand their events and audiences," said Hartz. "By making thoughtful investments that leverage our scale, data, and self-service model, we are well positioned for sustainable long-term growth.”
