“SEATWAVE SECONDARY TICKETING MARKET UPDATE FOR Q4 2008”
LONDON, ENG (Seatwave) 03 March 2009 – Seatwave, Europe’s leading independent ticketing website according to Comscore market share data, today confirms that it saw decisive growth across all sectors including music, sport and theatre in Q4 of 2008. This comes as many other industries are feeling the effect of the economic downturn. Seatwave experienced a 66% increase in overall transactions since Q3 of 2008 and a massive 232% rise on the same quarter last year. The most significant growth was seen in theatre transactions, which witnessed a 217% increase in sales on 2007, followed by sports events, which saw an increase of 167%, and concert transactions, which saw a 154% rise.
This increase in sales has led to a marked reduction in ticket prices on Seatwave, allowing fans to benefit from decreasing ticket prices for major events. This is to be expected as Seatwave is based on a transparent marketplace model, encouraging more competitive prices as supply increases. Sporting fans in particular are benefiting, with the average ticket price having decreased by 42% since Q3 and by 78% since the previous year.
UK fans are increasingly choosing to go abroad for a range of events and are becoming more adventurous in their destinations. European festivals such as Benicassim and Rock am Ring have proved especially popular as fans opt for sunnier climates. In Q4 of 2008, UK buyers bought tickets to events in no fewer than 21 different countries, up from eight in the final quarter of 2007.
Coldplay have shown their enduring appeal, with Viva la Vida ranking as the highest grossing tour on Seatwave in Q4. Barry Manilow, meanwhile, made a surprise appearance in the top ten, slipping in at tenth place. Eddie Izzard’s tour came in at number six, evidence of comedy’s growing appeal as a night out during this somewhat gloomy time.
Commenting on the figures, Joe Cohen, Founder and CEO of Seatwave, said:
“These figures clearly demonstrate that Seatwave is the undisputed market leader in Europe and has opened up a wide margin on the field. The huge rise in transactions is evidence that the secondary market is filling a genuine customer need. Our open marketplace is lowering prices, increasing transparency and providing greater choice and opportunity, allowing real fans the chance to attend the events that matter to them.”
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