Vivid Seats Inc. (assento): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo da Vivid Seats Inc. (Seat), um dinâmico mercado de ingressos on -line que revolucionou como os fãs acessam o entretenimento ao vivo. Esta plataforma digital engenhosamente conecta vendedores e compradores de ingressos em esportes, concertos e artes cênicas, oferecendo uma experiência de bilheteria transparente e perfeita que transforma o mercado secundário tradicional. Com sua tecnologia de ponta, mercado robusto e abordagem centrada no usuário, os assentos vívidos criaram um nicho único no cenário competitivo de ingressos para eventos ao vivo, fornecendo amantes da música, entusiastas esportivos e frequentadores de eventos com acesso incomparável a suas experiências favoritas .

Vivid Seats Inc. (assento) - Modelo de negócios: Parcerias -chave

Plataformas e mercados de bilhetes de eventos ao vivo

Os assentos vívidos mantêm parcerias estratégicas com várias plataformas de bilhetes on -line:

Plataforma de parceiro	Detalhes da parceria	Participação de receita
StubHub	Integração do mercado de ingressos secundários	15-20% Comissão
Seatgeek	TRISÃO DE INVENTRAMENTO DE TINTRO	Taxa de comissão de 17%

Ligas esportivas profissionais e locais de entretenimento

Assentos vívidos colaboram com as principais organizações de esportes e entretenimento:

• NBA Official Revealar Marketplace Partner
• A Major League Baseball (MLB) Autorizado revendedor de ingressos
• Parceria da NHL para distribuição de ingressos digitais

Parceiros de processamento de tecnologia e pagamento

Parceiro de tecnologia	Serviço prestado	Valor anual do contrato
Listra	Processamento de pagamento	US $ 3,2 milhões
Salesforce	Gerenciamento de relacionamento com o cliente	US $ 1,8 milhão

Colaboradores de marketing e publicidade

As principais parcerias de marketing incluem:

• Google Ads Network
• Parceiros de marketing do Facebook
• Plataformas de publicidade programática

Vendedores de ingressos e corretores

Assentos vívidos mantêm relacionamentos com corretores de ingressos profissionais:

Rede de corretores	Volume do ingresso	Comissão Média
Corretores de ingressos independentes	250.000 ingressos anualmente	12-18% Comissão
Revendedores de ingressos corporativos	150.000 ingressos anualmente	15% Comissão

Vivid Seats Inc. (assento) - Modelo de negócios: Atividades -chave

Operações de mercado de ingressos on -line

Os assentos vívidos processaram 29,5 milhões de ingressos em 2022, com um valor bruto de transação de US $ 1,2 bilhão. A plataforma conecta vendedores e compradores em mais de 65.000 eventos anualmente.

Métrica	2022 Performance
Total de ingressos processados	29,5 milhões
Valor bruto da transação	US $ 1,2 bilhão
Eventos totais abordados	65,000+

Desenvolvimento e manutenção da plataforma de tecnologia

Assentos vívidos investiram US $ 22,4 milhões em despesas de tecnologia e desenvolvimento Em 2022, concentrando -se no aprimoramento da plataforma e na experiência do usuário.

• Downloads de aplicativos móveis: 5,2 milhões
• Tráfego do site: 35 milhões de visitantes únicos mensais
• Tempo de atividade da plataforma: 99,9%

Estratégias de aquisição e retenção de clientes

O custo de aquisição de clientes em 2022 foi de aproximadamente US $ 15 por novo usuário, com uma taxa de retenção de clientes de 62%.

Métrica de aquisição	Valor
Custo de aquisição do cliente	US $ 15 por usuário
Taxa de retenção de clientes	62%

Preços dinâmicos e gerenciamento de inventário

Os assentos vívidos utilizam algoritmos avançados que gerenciam mais de 500.000 listagens de ingressos simultaneamente, com ajustes de preços em tempo real.

• Preço médio do bilhete: US $ 124
• Frequência de ajuste de preço: a cada 15 minutos
• Taxa de atualização de inventário: contínuo

Execução de marketing e campanha promocional

Despesas de marketing em 2022 alcançadas US $ 87,6 milhões, representando 22% da receita total.

Métrica de marketing	2022 Performance
Gastos com marketing total	US $ 87,6 milhões
Marketing como % de receita	22%
Canais de marketing digital	Mídia social, pesquisa, afiliada

Vivid Seats Inc. (assento) - Modelo de negócios: Recursos -chave

Plataforma de tecnologia avançada de ingressos

Os assentos vívidos operam uma plataforma de bilheteria digital proprietária com as seguintes especificações técnicas:

Métrica da plataforma	Especificação
Transações de plataforma por ano	17,2 milhões de ingressos
Valor da transação bruta da plataforma	US $ 1,1 bilhão (2022)
Downloads de aplicativos móveis	Mais de 5 milhões

Grande mercado digital e rede de usuários

As características da rede incluem:

• Total de usuários registrados: 8,5 milhões
• Visitantes exclusivos mensais do site: 12,3 milhões
• Categorias de eventos cobertas: esportes, concertos, teatro, entretenimento ao vivo

Algoritmos de análise de dados e preços

Capacidades tecnológicas:

Recurso de análise	Capacidade
Algoritmo de preços em tempo real	Preços dinâmicos orientados para aprendizado de máquina
Gerenciamento de inventário preditivo	Previsão de fornecimento de ingressos movidos a IA

Forte reconhecimento de marca

Métricas de desempenho da marca:

• Participação de mercado no mercado secundário de ingressos: 12,4%
• Classificação de satisfação do cliente: 4.2/5
• Taxa repetida do cliente: 37%

Infraestrutura baseada em nuvem escalável

Especificações de infraestrutura:

Métrica de infraestrutura	Especificação
Plataforma em nuvem	Amazon Web Services (AWS)
Gastes anuais de infraestrutura em nuvem	US $ 4,2 milhões
Tempo de atividade do sistema	99.99%

Vivid Seats Inc. (assento) - Modelo de negócios: proposições de valor

Ampla seleção de ingressos para eventos ao vivo

A partir do quarto trimestre 2023, os assentos vívidos oferecem ingressos em várias categorias de eventos:

Categoria de evento	Inventário aproximado de ingressos
Shows	1,2 milhão de ingressos
Esportes	850.000 ingressos
Teatro	350.000 ingressos
Shows de comédia	200.000 ingressos

Preços transparentes e transações seguras

Desempenho financeiro relacionado às transações de ingressos:

• Volume de transação bruta em 2023: US $ 1,47 bilhão
• Valor médio da transação de ingressos: $ 124
• Porcentagem de taxa de transação: 11,4%

Plataformas amigáveis

Métricas de uso da plataforma:

Plataforma	Usuários ativos mensais
Aplicativo móvel	3,2 milhões
Plataforma da Web	5,7 milhões

Autenticidade e entrega de ingressos

Estatísticas de verificação e entrega de ingressos:

• Garantia de autenticidade do ingresso: 100%
• Taxa de entrega de ingressos digitais: 92%
• Tempo de entrega física do ingresso: 3-5 dias úteis

Preços competitivos

Dados de comparação de preços:

Comparação de mercado	Preço médio de assentos vívidos	Preço médio do concorrente
Shows	$87	$96
Eventos esportivos	$112	$128
Teatro	$95	$105

Vivid Seats Inc. (assento) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de autoatendimento digital

A Vivid Seats oferece uma plataforma on -line abrangente, com 4,5 milhões de usuários registrados a partir do terceiro trimestre de 2023. A plataforma digital processa aproximadamente 17 milhões de visitantes únicos mensais.

Métrica da plataforma	Estatística
Usuários registrados	4,5 milhões
Visitantes únicos mensais	17 milhões
Downloads de aplicativos móveis	2,3 milhões

Canais de suporte ao cliente 24/7

Os assentos vívidos fornecem suporte ao cliente multicanal com tempos de resposta, com média de 2-4 horas em plataformas digitais.

• Suporte ao bate -papo ao vivo
• Suporte por e -mail
• Suporte telefônico
• Assistência à mídia social

Recomendações de ingressos personalizados

A plataforma utiliza algoritmos de recomendação acionados por IA que geram sugestões de ingressos personalizados com uma taxa de envolvimento do usuário de 65%.

Programa de fidelidade e sistema de recompensas

O programa de recompensas da Vivid Seats inclui 250.000 membros de fidelidade ativa com um gasto médio anual de US $ 375 por membro.

Métrica do Programa de Fidelidade	Valor
Membros de lealdade ativa	250,000
Gasto médio de membros	$375
Taxa de retenção de programas de fidelidade	42%

Revisões de usuários e engajamento da comunidade

A plataforma apresenta mais de 500.000 críticas geradas pelo usuário com uma classificação média de 4,2 de 5 estrelas.

• Total de revisões de usuários: 500.000
• Classificação média: 4.2/5
• Taxa de verificação de revisão: 87%

Vivid Seats Inc. (assento) - Modelo de negócios: canais

Aplicativo móvel

App Mobile de assentos vívidos disponíveis em plataformas iOS e Android com classificação 4.7/5 na Apple App Store a partir de 2024. Downloads de aplicativos: 2,5 milhões de usuários totais. As vendas de ingressos móveis representam 62% do total de transações da plataforma.

Plataforma	Usuários ativos mensais	Porcentagem de vendas de ingressos
iOS	1,3 milhão	35%
Android	1,2 milhão	27%

Plataforma baseada na Web

Tráfego do site: 18,5 milhões de visitantes únicos mensais. Taxa de conversão: 3,4%. Receita anual da plataforma da Web: US $ 487 milhões.

Marketing de mídia social

• Seguidores do Instagram: 450.000
• Seguidores do Twitter: 210.000
• Fãs do Facebook: 380.000
• Gastes de marketing de mídia social: US $ 6,2 milhões anualmente

Campanhas de marketing por email

Base de assinantes de e -mail: 3,7 milhões. Taxa média de abertura: 22,5%. Taxa média de cliques: 4,8%. Receita anual de marketing por e -mail: US $ 72 milhões.

Redes de marketing de afiliados

Rede	Taxa de comissão	Receita anual gerada
Junção da comissão	8%	US $ 42 milhões
Shareasale	7%	US $ 35 milhões
Raio de impacto	6%	US $ 28 milhões

Vivid Seats Inc. (assento) - Modelo de negócios: segmentos de clientes

Fãs de esportes

Assentos vívidos têm como alvo fãs de esportes nas principais ligas e eventos:

Liga	Volume do ingresso	Preço médio do ingresso
NFL	1,2 milhão de ingressos	US $ 285 por ingresso
NBA	850.000 ingressos	US $ 175 por ingresso
Mlb	1,5 milhão de ingressos	US $ 95 por ingresso
NHL	600.000 ingressos	US $ 125 por ingresso

Participantes de eventos de concerto e música

Breakdown do segmento de ingressos para eventos musicais:

• Concertos pop: 35% das vendas de ingressos musicais
• Concertos de rock: 25% das vendas de ingressos musicais
• Eventos de hip-hop/rap: 20% das vendas de ingressos musicais
• Música country: 12% das vendas de ingressos musicais
• Música eletrônica de dança (EDM): 8% das vendas de ingressos musicais

Entusiastas de teatro e artes cênicas

Tipo de desempenho	Volume anual de ingressos	Preço médio do ingresso
Shows da Broadway	450.000 ingressos	US $ 225 por ingresso
Teatro local	250.000 ingressos	US $ 85 por ingresso
Ópera/clássico	100.000 ingressos	US $ 195 por ingresso

Participantes do evento corporativo

Distribuição de ingressos para eventos corporativos:

• Conferências: 45% das vendas de ingressos corporativos
• Feiras: 30% das vendas de ingressos corporativos
• Seminários profissionais: 15% das vendas de ingressos corporativos
• Retiros corporativos: 10% das vendas de ingressos corporativos

Jovens Profissionais Urbanos

Faixa etária	Frequência de compra de ingressos	Gasto médio anual
25-34 anos	6-8 eventos por ano	US $ 1.200 anualmente
35-44 anos	4-6 eventos por ano	US $ 950 anualmente

Vivid Seats Inc. (assento) - Modelo de negócios: estrutura de custos

Desenvolvimento e manutenção de tecnologia

Para o ano fiscal de 2023, os assentos vívidos relataram despesas de tecnologia e desenvolvimento de US $ 31,4 milhões, representando 14,7% da receita total.

Categoria de custo	Despesa anual	Porcentagem de receita
Desenvolvimento de software	US $ 22,1 milhões	10.4%
Infraestrutura em nuvem	US $ 6,3 milhões	3.0%
Segurança cibernética	US $ 3,0 milhões	1.4%

Despesas de marketing e aquisição de clientes

As despesas de marketing para 2023 totalizaram US $ 86,2 milhões, representando 40,5% da receita total.

• Publicidade digital: US $ 52,3 milhões
• Marketing de afiliados: US $ 18,7 milhões
• Campanhas promocionais: US $ 15,2 milhões

Taxas de processamento de pagamento

Os custos de processamento de pagamento para 2023 foram de US $ 15,6 milhões, representando 7,3% da receita total.

Método de pagamento	Porcentagem de taxa de processamento	Custo anual
Transações com cartão de crédito	2.9%	US $ 10,2 milhões
Carteiras digitais	1.5%	US $ 3,7 milhões
Transferências bancárias	0.5%	US $ 1,7 milhão

Infraestrutura de suporte ao cliente

As despesas de suporte ao cliente em 2023 totalizaram US $ 12,8 milhões, o que representa 6,0% da receita total.

• Salários da equipe de suporte: US $ 8,5 milhões
• Tecnologia de atendimento ao cliente: US $ 2,6 milhões
• Treinamento e desenvolvimento: US $ 1,7 milhão

Custos gerais operacionais e administrativos

As despesas operacionais e administrativas totais de 2023 foram de US $ 27,5 milhões, compreendendo 12,9% da receita total.

Categoria de custo	Despesa anual	Porcentagem de receita
Compensação executiva	US $ 9,3 milhões	4.4%
Despesas do escritório	US $ 5,6 milhões	2.6%
Taxas legais e profissionais	US $ 7,2 milhões	3.4%
Seguro	US $ 2,4 milhões	1.1%

Vivid Seats Inc. (assento) - Modelo de negócios: fluxos de receita

Comissão de Vendas de Ingressos

Os assentos vívidos geram receita por meio de um modelo baseado em comissão sobre vendas de ingressos. A partir do terceiro trimestre de 2023, a empresa relatou um Valor bruto da transação de US $ 577,5 milhões.

Métrica	Valor	Período
Valor bruto da transação	US $ 577,5 milhões	Q3 2023
Taxa de comissão	10-15%	Por transação

Taxas de serviço por transação

A empresa cobra taxas de serviço em cada transação de ingressos, com uma estrutura média de taxas da seguinte forma:

• Taxa de serviço padrão: 10-15% do preço do ingresso
• Taxa de processamento: US $ 5- $ 10 por ingresso

Assinaturas de associação premium

Os assentos vívidos oferecem um programa de associação premium com as seguintes características:

Nível de associação	Taxa anual	Principais benefícios
Assentos vívidos VIP	US $ 99/ano	Taxas de serviço reduzidas, suporte prioritário

Monetização de dados

A empresa aproveita seus extensos dados do mercado de ingressos para fluxos de receita adicionais:

• Insights agregados de preços de ingressos
• Análise de comportamento do consumidor
• Relatórios de tendências de mercado

Publicidade e parcerias promocionais

Assentos vívidos geram receita por meio de canais estratégicos de publicidade e parceria:

Tipo de parceria	Receita estimada	Notas
Patrocínios de marca	Aproximadamente US $ 5 a 10 milhões anualmente	Marcas de esportes e entretenimento
Publicidade digital	US $ 2-5 milhões anualmente	Publicidade na plataforma e rede

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.