Vivid Seats Inc. (SEAT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Vivid Seats Inc. (Seat), un mercado dinámico de boletos en línea que ha revolucionado cómo los fanáticos acceden al entretenimiento en vivo. Esta plataforma digital conecta ingeniosamente vendedores de entradas y compradores en deportes, conciertos y artes escénicas, ofreciendo una experiencia de boleto transparente y transparente que transforma el mercado secundario tradicional. Con su tecnología de vanguardia, el mercado robusto y el enfoque centrado en el usuario, Vivid Seats ha forjado un nicho único en el paisaje competitivo de entradas para eventos en vivo, proporcionando amantes de la música, entusiastas del deporte y asistentes a eventos con acceso incomparable a sus experiencias favoritas .

Vivid Seats Inc. (asiento) - Modelo de negocios: asociaciones clave

Plataformas de boletos y mercados de eventos en vivo

Vivid Seats mantiene asociaciones estratégicas con múltiples plataformas de boletos en línea:

Plataforma de pareja	Detalles de la asociación	Participación de ingresos
Bandeja	Integración del mercado de boletos secundarios	15-20% de comisión
Seatgeek	Intercambio de inventario de boletos	Tasa de comisión del 17%

Legas deportivas profesionales y lugares de entretenimiento

Los asientos vívidos colaboran con organizaciones clave de deportes y entretenimiento:

• Socio de mercado de reventa oficial de la NBA
• Major League Baseball (MLB) Reseller de boletos autorizado
• Asociación de NHL para distribución de entradas digitales

Socios de procesamiento de tecnología y pagos

Socio tecnológico	Servicio proporcionado	Valor anual del contrato
Raya	Procesamiento de pagos	$ 3.2 millones
Salesforce	Gestión de la relación con el cliente	$ 1.8 millones

Colaboradores de marketing y publicidad

Las asociaciones de marketing clave incluyen:

• Red de anuncios de Google
• Socios de marketing de Facebook
• Plataformas de publicidad programática

Vendedores de boletos de reventa y corredores

Los asientos vívidos mantienen relaciones con corredores de boletos profesionales:

Red de corredores	Volumen de boletos	Comisión promedio
Corredores de boletos independientes	250,000 boletos anualmente	12-18% de comisión
Revendedores de boletos corporativos	150,000 boletos anualmente	15% de comisión

Vivid Seats Inc. (asiento) - Modelo de negocio: actividades clave

Operaciones del mercado de entradas en línea

Los asientos vívidos procesaron 29.5 millones de boletos en 2022, con un valor de transacción bruta de $ 1.2 mil millones. La plataforma conecta a los vendedores y compradores en más de 65,000 eventos anualmente.

Métrico	Rendimiento 2022
TOTOS TOTALES procesados	29.5 millones
Valor de transacción bruta	$ 1.2 mil millones
Total de eventos cubiertos	65,000+

Desarrollo y mantenimiento de la plataforma tecnológica

Asientos vívidos invertidos $ 22.4 millones en gastos de tecnología y desarrollo en 2022, centrándose en la mejora de la plataforma y la experiencia del usuario.

• Descargas de aplicaciones móviles: 5.2 millones
• Tráfico del sitio web: 35 millones de visitantes únicos mensuales
• Tiempo de actividad de la plataforma: 99.9%

Estrategias de adquisición y retención de clientes

El costo de adquisición de clientes en 2022 fue de aproximadamente $ 15 por nuevo usuario, con una tasa de retención de clientes del 62%.

Métrica de adquisición	Valor
Costo de adquisición de clientes	$ 15 por usuario
Tasa de retención de clientes	62%

Precios dinámicos y gestión de inventario

Vivid Seats utiliza algoritmos avanzados que administran más de 500,000 listados de boletos simultáneamente, con ajustes de precios en tiempo real.

• Precio promedio del boleto: $ 124
• Frecuencia de ajuste de precio: cada 15 minutos
• Tasa de actualización del inventario: continuo

Ejecución de campaña de marketing y promoción

El gasto de marketing en 2022 alcanzó $ 87.6 millones, representando el 22% de los ingresos totales.

Métrico de marketing	Rendimiento 2022
Gasto total de marketing	$ 87.6 millones
Marketing como % de ingresos	22%
Canales de marketing digital	Redes sociales, búsqueda, afiliado

Vivid Seats Inc. (asiento) - Modelo de negocio: recursos clave

Plataforma de tecnología de boletos avanzados

Vivid Seats opera una plataforma de boletos digitales patentados con las siguientes especificaciones técnicas:

Métrica de plataforma	Especificación
Transacciones de plataforma por año	17.2 millones de boletos
Valor de transacción bruta de plataforma	$ 1.1 mil millones (2022)
Descargas de aplicaciones móviles	Más de 5 millones

Gran mercado digital y red de usuarios

Las características de la red incluyen:

• Total de usuarios registrados: 8.5 millones
• Visitantes mensuales únicos del sitio web: 12.3 millones
• Categorías de eventos cubiertos: deportes, conciertos, teatro, entretenimiento en vivo

Algoritmos de análisis de datos y precios

Capacidades tecnológicas:

Característica de análisis	Capacidad
Algoritmo de precios en tiempo real	Precios dinámicos impulsados ​​por el aprendizaje automático
Gestión de inventario predictivo	Pronóstico de suministro de boletos con IA

Reconocimiento de marca fuerte

Métricas de rendimiento de la marca:

• Cuota de mercado en el mercado de boletos secundarios: 12.4%
• Calificación de satisfacción del cliente: 4.2/5
• Tasa de cliente repetida: 37%

Infraestructura basada en la nube escalable

Especificaciones de infraestructura:

Infraestructura métrica	Especificación
Plataforma en la nube	Servicios web de Amazon (AWS)
Gasto anual de infraestructura en la nube	$ 4.2 millones
Tiempo de actividad del sistema	99.99%

Vivid Seats Inc. (asiento) - Modelo de negocio: propuestas de valor

Amplia selección de entradas para eventos en vivo

A partir del cuarto trimestre de 2023, Vivid Seats ofrece boletos en múltiples categorías de eventos:

Categoría de eventos	Inventario de boletos aproximados
Conciertos	1.2 millones de boletos
Deportes	850,000 boletos
Teatro	350,000 boletos
Shows de comedia	200,000 boletos

Precios transparentes y transacciones seguras

Rendimiento financiero relacionado con las transacciones de boletos:

• Volumen de transacción bruta en 2023: $ 1.47 mil millones
• Valor de transacción de boleto promedio: $ 124
• Porcentaje de tarifas de transacción: 11.4%

Plataformas fáciles de usar

Métricas de uso de la plataforma:

Plataforma	Usuarios activos mensuales
Aplicación móvil	3.2 millones
Plataforma web	5.7 millones

Autenticidad y entrega de boletos

Estadísticas de verificación y entrega de boletos:

• Garantía de autenticidad de boletos: 100%
• Tasa de entrega de boletos digitales: 92%
• Tiempo de entrega de boletos físicos: 3-5 días hábiles

Fijación de precios competitivos

Datos de comparación de precios:

Comparación de mercado	Precio promedio de asientos vívidos	Precio promedio de la competencia
Conciertos	$87	$96
Eventos deportivos	$112	$128
Teatro	$95	$105

Vivid Seats Inc. (asiento) - Modelo de negocio: relaciones con los clientes

Plataformas de autoservicio digital

Vivid Seats ofrece una plataforma en línea integral con 4.5 millones de usuarios registrados a partir del tercer trimestre de 2023. La plataforma digital procesa aproximadamente 17 millones de visitantes únicos mensuales.

Métrica de plataforma	Estadística
Usuarios registrados	4.5 millones
Visitantes únicos mensuales	17 millones
Descargas de aplicaciones móviles	2.3 millones

Canales de atención al cliente 24/7

Vivid Seats ofrece atención al cliente multicanal con tiempos de respuesta con un promedio de 2-4 horas en las plataformas digitales.

• Soporte de chat en vivo
• Soporte por correo electrónico
• Soporte telefónico
• Asistencia en las redes sociales

Recomendaciones de boletos personalizados

La plataforma utiliza algoritmos de recomendación impulsados ​​por la IA que generan sugerencias de boletos personalizadas con una tasa de participación del usuario del 65%.

Programa de lealtad y sistema de recompensas

El programa de recompensas de Vivid Seats incluye 250,000 miembros de lealtad activos con un gasto anual promedio de $ 375 por miembro.

Métrica del programa de fidelización	Valor
Miembros de lealtad activos	250,000
Gasto promedio de miembros	$375
Tasa de retención del programa de fidelización	42%

Revisiones de usuarios y compromiso de la comunidad

La plataforma presenta más de 500,000 revisiones generadas por el usuario con una calificación promedio de 4.2 de 5 estrellas.

• Revisiones totales de los usuarios: 500,000
• Calificación promedio: 4.2/5
• Tasa de verificación de revisión: 87%

Vivid Seats Inc. (asiento) - Modelo de negocio: canales

Aplicación móvil

Aplicación móvil de Vivid Seats disponible en plataformas iOS y Android con una calificación de 4.7/5 en Apple App Store a partir de 2024. Descargas de aplicaciones: 2.5 millones de usuarios totales. Las ventas de entradas móviles representan el 62% de las transacciones totales de la plataforma.

Plataforma	Usuarios activos mensuales	Porcentaje de venta de entradas
iOS	1.3 millones	35%
Androide	1.2 millones	27%

Plataforma basada en la web

Tráfico del sitio web: 18.5 millones de visitantes únicos mensuales. Tasa de conversión: 3.4%. Ingresos anuales de la plataforma web: $ 487 millones.

Marketing en redes sociales

• Seguidores de Instagram: 450,000
• Seguidores de Twitter: 210,000
• Fans de Facebook: 380,000
• Gasto de marketing en redes sociales: $ 6.2 millones anuales

Campañas de marketing por correo electrónico

Base de suscriptores de correo electrónico: 3.7 millones. Tasa de apertura promedio: 22.5%. Tasa promedio de clics: 4.8%. Ingresos anuales de marketing por correo electrónico: $ 72 millones.

Redes de marketing de afiliación

Red	Tarifa de comisión	Ingresos anuales generados
Junction de la comisión	8%	$ 42 millones
Sharasale	7%	$ 35 millones
Radio de impacto	6%	$ 28 millones

Vivid Seats Inc. (asiento) - Modelo de negocio: segmentos de clientes

Fanáticos del deporte

Los asientos vívidos apuntan a los fanáticos del deporte en las principales ligas y eventos:

Liga	Volumen de boletos	Precio promedio de boleto
NFL	1.2 millones de boletos	$ 285 por boleto
NBA	850,000 boletos	$ 175 por boleto
MLB	1.5 millones de boletos	$ 95 por boleto
NHL	600,000 boletos	$ 125 por boleto

Asistentes de conciertos y eventos musicales

Desglose del segmento de boletos de evento musical:

• Conciertos pop: 35% de la venta de entradas de música
• Conciertos de rock: 25% de la venta de entradas de música
• Eventos de hip-hop/rap: 20% de la venta de entradas de música
• Música country: 12% de la venta de entradas de música
• Electronic Dance Music (EDM): 8% de la venta de entradas de música

ENTRADOS DE LA ELETRO Y ARTES PRINICTALES

Tipo de rendimiento	Volumen anual de boletos	Precio promedio de boleto
Espectáculos de Broadway	450,000 boletos	$ 225 por boleto
Teatro local	250,000 boletos	$ 85 por boleto
Ópera/clásico	100,000 boletos	$ 195 por boleto

Participantes del evento corporativo

Distribución de entradas para eventos corporativos:

• Conferencias: 45% de la venta de entradas corporativas
• Ferias comerciales: 30% de la venta de entradas corporativas
• Seminarios profesionales: 15% de la venta de entradas corporativas
• Retiros corporativos: 10% de la venta de entradas corporativas

Jóvenes profesionales urbanos

Grupo de edad	Frecuencia de compra de boletos	Gasto anual promedio
25-34 años	6-8 eventos por año	$ 1,200 anualmente
35-44 años	4-6 eventos por año	$ 950 anualmente

Vivid Seats Inc. (asiento) - Modelo de negocio: estructura de costos

Desarrollo y mantenimiento de la tecnología

Para el año fiscal 2023, los asientos vívidos reportaron tecnología y gastos de desarrollo de $ 31.4 millones, lo que representa el 14.7% de los ingresos totales.

Categoría de costos	Gasto anual	Porcentaje de ingresos
Desarrollo de software	$ 22.1 millones	10.4%
Infraestructura en la nube	$ 6.3 millones	3.0%
Ciberseguridad	$ 3.0 millones	1.4%

Gastos de marketing y adquisición de clientes

Los gastos de marketing para 2023 totalizaron $ 86.2 millones, lo que representa el 40.5% de los ingresos totales.

• Publicidad digital: $ 52.3 millones
• Marketing de afiliados: $ 18.7 millones
• Campañas promocionales: $ 15.2 millones

Tarifas de procesamiento de pagos

Los costos de procesamiento de pagos para 2023 fueron de $ 15.6 millones, lo que representa el 7.3% de los ingresos totales.

Método de pago	Porcentaje de tarifas de procesamiento	Costo anual
Transacciones de tarjeta de crédito	2.9%	$ 10.2 millones
Billeteras digitales	1.5%	$ 3.7 millones
Transferencias bancarias	0.5%	$ 1.7 millones

Infraestructura de atención al cliente

Los gastos de atención al cliente en 2023 ascendieron a $ 12.8 millones, que es el 6.0% de los ingresos totales.

• Salarios de apoyo al personal: $ 8.5 millones
• Tecnología de servicio al cliente: $ 2.6 millones
• Capacitación y desarrollo: $ 1.7 millones

Gastos generales operativos y costos administrativos

Los gastos operativos y administrativos totales para 2023 fueron de $ 27.5 millones, que comprenden el 12.9% de los ingresos totales.

Categoría de costos	Gasto anual	Porcentaje de ingresos
Compensación ejecutiva	$ 9.3 millones	4.4%
Gastos de oficina	$ 5.6 millones	2.6%
Tarifas legales y profesionales	$ 7.2 millones	3.4%
Seguro	$ 2.4 millones	1.1%

Vivid Seats Inc. (asiento) - Modelo de negocio: flujos de ingresos

Comisión de venta de entradas

Los asientos vívidos generan ingresos a través de un modelo basado en la comisión en la venta de entradas. A partir del tercer trimestre de 2023, la compañía informó un Valor de transacción bruta de $ 577.5 millones.

Métrico	Valor	Período
Valor de transacción bruta	$ 577.5 millones	P3 2023
Tarifa de comisión	10-15%	Por transacción

Tarifas de servicio por transacción

La Compañía cobra tarifas de servicio en cada transacción de boletos, con una estructura de tarifas promedio de la siguiente manera:

• Tarifa de servicio estándar: 10-15% del precio del boleto
• Tarifa de procesamiento: $ 5- $ 10 por boleto

Suscripciones de membresía premium

Vivid Seats ofrece un programa de membresía premium con las siguientes características:

Nivel de membresía	Tarifa anual	Beneficios clave
Asientos vívidos VIP	$ 99/año	Tarifas de servicio reducidas, soporte prioritario

Monetización de datos

La compañía aprovecha sus extensos datos del mercado de boletos para flujos de ingresos adicionales:

• Insights de precios de boletos agregados
• Análisis de comportamiento del consumidor
• Informes de tendencias del mercado

Publicidad y asociaciones promocionales

Los asientos vívidos generan ingresos a través de la publicidad estratégica y los canales de asociación:

Tipo de asociación	Ingresos estimados	Notas
Patrocinios de marca	Aproximadamente $ 5-10 millones anuales	Marcas deportivas y de entretenimiento
Publicidad digital	$ 2-5 millones anualmente	Publicidad en la plataforma y de red

Vivid Seats Inc. (SEAT) - Canvas Business Model: Value Propositions

You're looking at how Vivid Seats Inc. is trying to keep customers coming back, especially when the market is tough-Q3 2025 revenue was $136.4 million, down 27% year-over-year. The value proposition is built around rewarding loyalty and guaranteeing the best price on their platform, which connects fans to hundreds of thousands of events across sports, concerts, and theater.

The commitment to fan-first features is clear, especially with the recent launch of the Lowest Price Guarantee in October 2025. This initiative is a direct response to competitive pressure, aiming to assure customers they are getting the best deal when buying tickets through the Vivid Seats app.

The core value drivers for the customer side can be summarized like this:

• - Wide Selection: Connecting fans to hundreds of thousands of events (sports, concerts, theater).
• - Loyalty Rewards: Vivid Seats Rewards program where all fans earn on every purchase.
• - Price Assurance: Lowest Price Guarantee launched in 2025 to compete on cost.
• - Transparency: Providing a seamless, transparent ticketing experience, supported by the All-In Pricing policy.

For the professional seller segment, the proprietary software remains a key differentiator. Skybox is the industry-leading Enterprise Resource Planning (ERP) tool. As of late 2024 context, over 55% of professional sellers exclusively used Skybox to run their businesses. The newer SkyBox Drive tool saw over 100 users onboarded since exiting beta, with hundreds more on the waitlist.

Here's a quick look at the mechanics of the two main customer-facing value drivers:

Value Proposition Feature	Metric/Condition	Value/Benefit Provided
Lowest Price Guarantee	Claim Window	1 hour post-purchase
Lowest Price Guarantee	Price Difference Payout	115% in Vivid Seats site credit
Lowest Price Guarantee	Credit Cap/Limit	Capped at $200 per claim; 2 claims per year
Vivid Seats Rewards	Earning Structure	1 stamp per ticket purchased
Vivid Seats Rewards	Reward Issuance	Reward Credit issued after collecting 10 stamps

The Vivid Seats Rewards program is designed to reduce customer acquisition costs by rewarding repeat business; a Reward Credit is the average value of the 10 tickets used to earn it, excluding taxes and fees. This is part of a broader strategy that also includes international expansion, with the company now live in four European countries.

The transparency element is reinforced by the All-In Pricing rollout, which shows the full cost, including fees, upfront, helping fans focus on enjoying the event rather than calculating final costs. This focus on customer experience is what management is banking on as they provided an initial 2026 Marketplace Gross Order Value (GOV) outlook of $2.2 billion to $2.6 billion.

Vivid Seats Inc. (SEAT) - Canvas Business Model: Customer Relationships

You're looking at how Vivid Seats Inc. keeps its millions of buyers and thousands of sellers engaged in a competitive ticketing landscape. The core of this is definitely a heavy reliance on digital, self-service interaction.

Self-Service Platform: Primary interaction via the website and mobile app.

The main way customers interact with Vivid Seats Inc. is through its technology platform, meaning the website, vividseats.com, and the mobile app, which you can get on iOS and Android. This digital-first approach is key to handling the volume. To keep users coming back to the app, they run features like Game Center in the Play tab, where fans can play daily WNBA-themed trivia to score points toward ticket discounts or enter drawings for free tickets. This is a smart way to drive daily engagement outside of just buying tickets.

The scale of transactions they manage shows why self-service is critical. For instance, in the second quarter ended June 30, 2025, Marketplace Gross Order Value (GOV) was $685.5 million, which is a significant amount of value flowing through that platform. Compare that to the first quarter of 2025, where Marketplace GOV hit $820.4 million. The platform has to be rock solid for that kind of volume.

Metric	Q2 2025 (Ended 6/30/2025)	Q1 2025 (Ended 3/31/2025)	FY 2024 (Full Year)
GAAP Revenue	$143.6 million	$164.0 million	$775.6 million
Marketplace Gross Order Value (GOV)	$685.5 million	$820.4 million	$3.92 billion
Marketplace Orders (Approximate)	N/A (Down over 30% YoY in Q2)	N/A (Down 20% YoY in Q1)	11.5 million

Loyalty Program: Automated, points-based rewards system to drive repeat business.

Vivid Seats Inc. positions its Vivid Seats Rewards program as industry-leading, and honestly, it's the only rewards program among the leading US ticket companies. It's automated, so you don't have to think about it; fans earn loyalty rewards on every single purchase. These rewards translate directly into ticket credits for future use. Plus, they sweeten the deal with fan benefits like surprise upgrades and access to exclusive experiences. This system is designed to lock in that repeat business, which is vital when industry volumes are facing pressure, like the 28% year-over-year GAAP revenue drop seen in Q2 2025.

Customer Service: Recognized as one of America's Best Companies for Customer Service.

The commitment to service is a stated brand differentiator. For the fifth time, Vivid Seats Inc. was included in Newsweek's list of America's Best Customer Service 2025 in the "Ticketing" category. The assessment for this 2025 award was based on over 200,000 evaluations collected from independent surveys, looking at factors like Professional Competence and Customer Focus. That recognition is important when you consider the company suspended its fiscal year 2025 guidance in May 2025 due to market uncertainty.

Dedicated Service: Support for high-volume ticket sellers and brokers.

While the primary focus is on the self-service buyer experience, the platform's architecture is built to connect millions of buyers with thousands of ticket sellers. This implies a necessary, though less publicized, dedicated infrastructure to onboard, verify, and manage transactions for high-volume professional sellers and brokers who form the supply side of the marketplace. The platform drives the entire consumer and business ecosystem for live event ticketing.

Finance: draft the Q3 2025 cash flow forecast update by next Tuesday.

Vivid Seats Inc. (SEAT) - Canvas Business Model: Channels

You're looking at how Vivid Seats Inc. gets its tickets to fans in late 2025. The channels are a mix of direct digital access and strategic partnerships, but the heavy reliance on paid traffic is definitely showing up in the financials.

Digital Marketplace: The Vivid Seats website and mobile application.

The core channel remains the direct digital marketplace. While the overall Marketplace Gross Order Value (GOV) saw a significant contraction in the third quarter of 2025, falling to $618.1 million, down 29% year-over-year, the mobile app is showing resilience. App-based users delivered double-digit sequential GOV growth in Q3 2025, suggesting a channel shift toward owned properties for better retention and conversion rates. For context, the total revenue for Q3 2025 was $136.4 million, reflecting the lower transaction volume across the platform.

Performance Marketing: Paid search and programmatic advertising channels.

This has been a major cost center and a source of recent pressure. In Fiscal Year 2024, Vivid Seats Inc. spent more than $261 million in online marketing and selling, much of that aimed at securing top search result placement. Even more recently, the company spent under $100 million on advertising across digital and national TV in the last year. The intensity of competition in these performance marketing channels was cited as a key factor contributing to the Q2 2025 Marketplace GOV drop of 31% year-over-year to $685.5 million. This channel is expensive, and the return on that investment is clearly being tested by market dynamics.

Here's a look at the scale of the core business and the marketing context:

Metric	Q3 2025 Value	YoY Change Context
Marketplace GOV	$618.1 million	Down 29%
Total Revenue	$136.4 million	Down 27%
Adjusted EBITDA	$4.9 million	Down from $34.1 million in Q3 2024
FY2024 Online Marketing & Selling Spend	Over $261 million	Context for high channel cost

Partner Integrations: Co-branded platforms like Capital One Entertainment.

While specific revenue contribution figures for co-branded platforms aren't explicitly broken out in the latest reports, these integrations are part of the strategy to build direct, high-value customer relationships outside of the volatile paid search environment. The focus on delivering a unique value proposition, which includes loyalty programs, is designed to drive traffic through these established partner ecosystems, helping to stabilize the business against performance marketing headwinds.

Acquisitions: Integrated platforms like Vegas.com and Wavedash for international reach.

The inclusion of acquisitions like Wavedash (the Japanese ticketing marketplace) and Vegas.com has been integrated into the core financials since 2024. The impact of these integrations is visible in the cost structure; for instance, the inclusion of these 2023 acquisitions contributed to a 29% jump in personnel expenses in Fiscal Year 2024. The strategic goal is to use these platforms to expand market reach beyond the primary North American focus, though the immediate financial reporting reflects the associated operational costs.

The company is actively trying to shift traffic quality, as evidenced by the focus on app users, while managing the high cost of the performance marketing channel. Finance: draft 13-week cash view by Friday.

Vivid Seats Inc. (SEAT) - Canvas Business Model: Customer Segments

You're looking at the customer base for Vivid Seats Inc. (SEAT) as of late 2025, and the picture is one of core reliance mixed with strategic new outreach. The primary engine remains the everyday fan, but the numbers show the pressure the entire market is under.

Live Event Fans

This group is the backbone, seeking tickets for sports, concerts, and theater across North America. Their activity is measured by the Marketplace Gross Order Value (GOV). For the third quarter of 2025, the Marketplace GOV landed at $618.1 million, which was a 29% year-over-year decline from the $871.7 million seen in Q3 2024. The take rate (the percentage of GOV the company keeps as revenue) for the Marketplace segment in Q3 2025 was 17%, though management expects this to settle near 16% in the near term due to competitive investment. The total revenue for that same quarter was $136.4 million.

The key metrics that define this segment's transactional health are:

• Marketplace GOV (Q3 2025): $618.1 million
• Marketplace GOV (Q3 2024): $871.7 million
• Marketplace Take Rate (Q3 2025): 17%
• Anticipated Near-Term Take Rate: Around 16%

Professional Ticket Resellers

These are the high-volume brokers who use the proprietary Skybox platform. The platform is designed to automate their business, offering free listing integration across Vivid Seats, StubHub, and TicketMaster+/TicketsNow to minimize dropped orders. While specific revenue contribution from this segment isn't broken out, the tool's value proposition is maximizing sales volume and profit margins for these professional sellers.

Corporate Buyers

Vivid Seats Inc. serves businesses looking to purchase tickets for client entertainment or employee incentives. This segment utilizes the platform's inventory for B2B hospitality needs. No specific financial data detailing the volume or revenue derived exclusively from Corporate Buyers was reported in the latest filings.

Loyalty Members

This segment is being actively courted through strategic partnerships. A major development was the collaboration with United Airlines announced on November 18, 2025, allowing MileagePlus members to earn miles on ticket purchases. United Airlines has over 130 million MileagePlus members. The earning structure is tiered:

• Base Accrual: Two miles per dollar spent.
• United Explorer Cardholders: Three total miles per dollar.
• United Quest Cardholders: Four total miles per dollar.
• United Club/Club Business Cardholders: Five total miles per dollar.

International Consumers

Vivid Seats Inc. is actively pursuing expansion outside its core North American market. As of the Q2 2025 earnings discussion, the business was live in four European countries, with management noting this segment was outperforming margin expectations.

For context on the overall financial environment supporting these segments, here are key figures from the third quarter of 2025:

Metric	Amount (USD Millions)
Total Revenue (Q3 2025)	136.4
Net Loss (Q3 2025)	19.7
Adjusted EBITDA (Q3 2025)	4.9
TTM Revenue (Ending Q3 2025)	Approx. 643.78
Projected 2026 Marketplace GOV Range	$2.2 billion to $2.6 billion

Finance: draft 13-week cash view by Friday.

Vivid Seats Inc. (SEAT) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive the operations for Vivid Seats Inc. as of late 2025. The cost structure is heavily weighted toward customer acquisition and platform maintenance, which is typical for a digital marketplace, but recent competitive pressures have forced a re-evaluation of spending.

Performance Marketing Costs remain a dominant expense. Management noted the 9% rise in these online advertising costs during the full year 2024, driven by intense competition for search traffic. For the full year 2024, Vivid Seats Inc. spent more than $261 million in online marketing and selling. This high spend is necessary to secure top placement for keywords like "NFL tickets" to compete against rivals.

Personnel Expenses saw a significant jump in 2024, contributing to the need for cost discipline announced later. Specifically, personnel expenses jumped by 29% in fiscal year 2024, partly due to headcount added from acquisitions like Wavedash and Vegas.com.

The core variable cost, Cost of Revenues, was reported at $42.43 million for the second quarter of 2025. This figure actually represented a 13% decrease from the $48.77 million reported in Q2 2024, reflecting some success in cost control despite declining volume.

Debt servicing is a fixed commitment. Vivid Seats Inc. is currently servicing $392 million of outstanding debt as of the end of Q2 2025, which carries a variable interest rate. The net interest expense for the first quarter of 2025 was $5.665 million (or $5,665 thousand).

Technology and Development is an ongoing investment area, crucial for maintaining the platform and driving efficiencies. For the three months ended March 31, 2025, the company reported $4.526 million (or $4,526 thousand) in Investments in developed technology. For the second quarter of 2025, this investment was $8.341 million (or $8,341 thousand).

To give you a clearer picture of the major operating expense categories based on the most recent granular data available (Q1 2025), here is a breakdown:

Expense Category (Q1 2025, in thousands USD)	Amount
Cost of revenues	$44,525
Marketing and selling	$64,112
General and administrative	$48,082
Depreciation and amortization	$11,625

The company has responded to these pressures by announcing a strategic cost reduction program targeting $25 million in annualized operating expense savings to be actioned upon by the end of 2025, with over $5 million in annualized savings already realized as of Q2 2025.

• The cost reduction plan includes shutting down the Vivid Picks business.
• The new CEO has outlined doubling the annualized cost savings target to $60 million following Q3 2025 results.
• The company is preparing for potential lifetime tax savings up to $180 million through corporate simplification.

Vivid Seats Inc. (SEAT) - Canvas Business Model: Revenue Streams

You're looking at the core money-making engine for Vivid Seats Inc. as of late 2025. The revenue structure is heavily weighted toward transaction volume on the primary platform, but the challenging market has put pressure on every stream.

The primary revenue driver is Marketplace Commissions, which come from service fees charged on ticket sales. The company's guidance from earlier in the year suggested a target take rate in the range of 15.5% to 16%, reflecting a focus on disciplined unit economics. For context, the Marketplace Gross Order Value (GOV) for Q3 2025 was $618.1 million. The revenue generated from this segment is the largest component of the total.

Vivid Seats Inc. operates with two primary segments, though the Marketplace is clearly dominant. The Resale Segment Revenue is generated from the smaller Resale segment, which focuses on acquiring tickets for resale. While the volume of Resale orders for the nine months ended September 30, 2025, was 3,759 cancellations, a specific revenue amount for this segment is not separately itemized in the latest public reports, which focus heavily on the Marketplace performance.

The consolidated financial results for the third quarter of 2025 reflect the difficult environment. Vivid Seats Inc. reported Q3 2025 Total Revenue of $136.4 million, which was down 27% year-over-year from $186.6 million in Q3 2024. For comparison, Q2 2025 revenue was $143.6 million, and Q1 2025 revenue was $164.0 million.

The bottom line for the year-to-date period shows significant charges impacting profitability. The Q1-Q3 2025 Net Loss for Vivid Seats Inc. was approximately $292.8 million, which included a large non-cash impairment charge, such as the $320.4 million GAAP impairment charge recorded in Q2 2025. The Q3 2025 net loss alone was $19.7 million.

Revenue from Advertising/Partnership Fees is a developing stream. The company has a loyalty partnership with United Airlines, which was expected to start bearing fruit in the second half of 2025. However, there was no reported financial impact from this or other new partnerships during Q2 2025. Performance marketing, which is a cost, rose 9% in the full year 2024, indicating the high cost of acquiring volume through digital advertising channels.

Here is a summary of the key financial data points for the period:

Metric	Amount/Guidance
Q3 2025 Total Revenue	$136.4 million
Q1-Q3 2025 Consolidated Net Loss	Approximately $292.8 million
Q3 2025 Net Loss	$19.7 million
Q1 2025 Take Rate Guidance	15.5% to 16%
Q3 2025 Marketplace GOV	$618.1 million
Q2 2025 GAAP Marketing Expenses	$53.8 million

You should track the monetization rate closely, as the take rate is the key lever for the primary revenue stream. The Resale segment remains secondary, and partnership revenue is still an expected benefit rather than a realized, quantifiable stream as of the Q3 report.