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What is the average conversion rate of ticket sales on the following online ticket merchants: Stubhub, SeatGeek, Eventbrite, and Vivid Seats
Hello, and thanks for your question asking what the average conversion rate of ticket sales is for Stubhub, SeatGeek, Eventbrite, and Vivid Seats. I have found that SeatGeek has an impressive conversion rate of 30%, and Eventbrite has a fairly poor conversion rate of 0.6%. For Stubhub and Vivid Seats this figure was not readily available, I attempted to calculate an estimate but this was not possible either, as you will see below. I was able to find a historical conversion rate for Stubhub, in 2006 this was 8.5%, but nothing has been published on this since then. Below you will find a deep dive into my research, along with all the details as to how I came to this conclusion.
OVERVIEW
After some lengthy research I wasn't able to find conversion rates for all companies. I attempted to look for pre-compiled figures first by searching through new stories, online articles and reports. I was able to find a couple of figures this way.
After this I turned to calculating the figures myself for the companies who I could not find pre-compiled statistics for. To do this I searched for two figures, the number of tickets sold per year and the number of visits to the company's site. After a thorough search I can confirm that the number of ticket sales were not available, perhaps because they are not published online, however SEMRush provided the number of site visits. I then decided to try to calculate the number of tickets sold by finding ticket sale revenue, and then dividing this by the average cost of a ticket. While I found ticket revenues, I also found that ticket prices varied greatly, so a calculation was not possible. In lieu of this information I have also suggested some alternative avenues of research that are related to this topic that may be of interest.
FINDINGS
1.Eventbrite
2. SeatGeek
This source tells us that SeatGeek has a fairly impressive conversion rate of 30%, "Take sports and concert ticket search app SeatGeek, whose sleek new checkout screen boasts a conversion rate up to 30%".
3. Stubhub
This case study is very dated, but in light of the fact that there is very scarce information available about conversion rates, I thought I'd include it, to give an idea about where StubHub possible lie. In 2006, they had a conversion rate of 8.5%.
In addition to this we know that through integrating Bugsnag the company were able to increase their conversion rates by 1-3%, but we don't know what this conversion totals to. It may be into double figures.
4. Vivid Seats
For the other companies I had to attempt a calculation. If the data is available this is simple, it is the percentage of visitors to the site who turn into customers. For Vivid Seats I was not able to find out the number of tickets sold, however, I found that they sold $1 billion worth of tickets in 2016. Information I also found that according to SEMRush they receive about 2.7 million views to their site each month.
I then tried to find the average price of a ticket sold on Vivid Seats, however, their ticket prices vary greatly, as this article illustrates. For example the average price of an NFL ticket sold on the platform costs just under $4,500, but the average price of an NHL ticket is just under $500. This means that it has not been possible to calculate the conversion rate for Vivid Seats.
I also attempted to do this calculation for StubHub. I found that they receive about $8.1 million page views each month. They also sold $279 million worth of tickets in 2016. The average price per ticket on StubHub is similar to Vivid Seats, they have a large range, and therefore it is not possible to make a calculation here.
POSSIBLE CONTINUED RESEARCH
You may want to investigate the industry as a whole. This article tells us that "the U.S. ticket resale market is big business, booming to $5 billion dollars". It also suggests that the market is a little unethical, reselling tickets for highly elevated prices that desperate fans are willing to buy.
You may also be interested in comparing the main players in the ticket re-sell industry. For example, this article compares Ticketmaster to Stubhub.
CONCLUSION
Overall I have found that SeatGeek has a high conversion rate of 30%, and Eventbrite has a low conversion rate of 0.6%. For Stubhub and Vivid Seats this figure was not readily available, although I attempted to calculate an estimate, the data was not there to allow me to do this. I was able to find a historical conversion rate for Stubhub, in 2006 this was 8.5%, but nothing has been published on this since then.
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