Key Takeaways:
Per ST data, MAUs have started to reflect waning demand, as global MAUs for the live event ticketing cohort increased merely 13% YoY in 2024 YTD, behind larger gains in 2021 (+108% YoY) and 2022 (+29% YoY)
Additionally, global downloads for ticket reseller apps declined in 3Q24, as GameTime, Vivid Seats and SeatGeek saw downloads fall 38%, 21%, and 13% YoY, respectively
TickPick and StubHub, the two ticketing platforms that saw the highest levels of MAU growth in 3Q24, up 73% and 33% YoY, respectively, also exhibited the most time spent (8 mins/month) during the same period, which suggests that these apps are potentially more successful in converting users as they are taking the time to (presumably) purchase tickets in-app
SeatGeek and TickPick increased US ad spend by 350% and 285% YoY in 3Q24, respectively. Ticketmaster accounted for 32% of spend across the cohort in 3Q24, down from 56% in 3Q23, while SeatGeek’s share of voice grew 22ppts to 30% of spend across the cohort, up from 8% in 3Q23
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