StubHub is venturing into the Broadway enterprise via a partnership with ATG Leisure, the ticketing firm’s first such deal involving theaters.
The settlement, introduced final week, establishes StubHub as an “Official Resale Ticket Companion” for 16 of ATG’s US venues. Whereas StubHub and ATG didn’t disclose the venues, The Hollywood Reporter mentioned these embody six Broadway theaters: the Hudson Theatre, St. James Theatre, Al Hirschfeld Theatre, Eugene O’Neill Theatre, August Wilson Theatre and Walter Kerr Theatre.
By the alliance, followers will be capable to purchase ATG tickets for these theaters instantly via StubHub.
“This partnership is about opening doorways for followers and for the theater trade,” mentioned Adam Budelli, Head of Partnerships at StubHub.
“ATG Leisure understands that assembly audiences the place they’re at requires innovation and attain. StubHub brings each, and we’re excited to assist the expansion of reside theater with a platform constructed for at the moment’s followers.”
Lori Hotz, US CEO of ATG Leisure, added: “This partnership displays a shared perception in the way forward for reside leisure.
“StubHub’s revolutionary platform and expansive attain provide new methods to attach with audiences throughout genres. Collectively, we’re reimagining how followers uncover and have interaction with reside experiences throughout the nation.”
The Hollywood Reporter mentioned the primary manufacturing out there on the platform might be The Final 5 Years on the Hudson Theatre, which can star Nick Jonas and Adrienne Warren.
The take care of StubHub comes two years after ATG Leisure’s guardian firm merged with Jujamcyn Theaters, which operated 5 Broadway theaters. Previous to the merger, Jujamcyn had a partnership with ticketing platform SeatGeek as its major ticketing channel.
For StubHub, the deal marks its first foray into reside theater ticketing and comes because it prepares to go public in New York. The corporate filed its IPO papers final month, disclosing a 29.5% YoY soar in income in 2024, which it attributed to development in its gross merchandise gross sales.
The corporate’s income rose to $1.77 billion from $1.37 billion in 2023. In contrast with 2022 ranges, StubHub’s income was up 70.8% from $1.04 billion.
Regardless of the income surge, StubHub swung to a internet lack of $2.8 million in 2024 from a internet revenue of $405.2 million in 2023 as the corporate’s prices and bills ballooned to $1.63 billion from $1.11 billion. In 2022, the corporate booked a internet lack of $261 million.
The Data reported earlier this month, citing folks near the corporate, that StubHub is concentrating on a valuation of $16.5 billion. Its rival, NASDAQ-listed Vivid Seats, at present has a market capitalization of $561.9 million, whereas NYSE-listed Dwell Nation has a market cap of $31 billion.
Launched in 2000, StubHub was acquired by eBay for $310 million in 2007. Nonetheless, it was repurchased by its co-founder Eric Baker in 2020 for $4 billion via Switzerland-based secondary ticketing firm viagogo.
Music Enterprise Worldwide
