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Business Operations Business Models

How Does SeatGeek Make Money (Business and Revenue Model)

The SeatGeek business model

SeatGeek logo
Here’s what you should know:
  • What is SeatGeek, and how does SeatGeek work?
  • How does SeatGeek make money?
  • A Percentage of Ticket Sales
  • SeatGeek Enterprise
  • SeatGeek subsidiaries, acquisitions, and exits
  • SeatGeek profit and revenue
  • What is the SeatGeek business and revenue model?
  • SeatGeek funding, net worth, and valuation

How does SeatGeek make money and how is it free to use? Well, here is a full, in depth, breakdown of their two (2) revenue streams and the different products and services they offer, as well as the SeatGeek business and revenue model, how much SeatGeek makes per year, and how SeatGeek works.

What is SeatGeek, and how does SeatGeek work?

SeatGeek is an online ticketing platform that allows users to buy and sell tickets for live sports, concerts, and more.

Founded in 2009 by Russell D’Souza, Jack Groetzinger, and Eric Waller, SeatGeek has now partnered with more than 200 global enterprise clients and has an average of 41 million tickets available daily on its platform.

So, how does SeatGeek work? To use SeatGeek, users can simply either download their mobile app on Apple Store or Google Play store; or visit their website.

Once on their platform, customers can use the search bar on the homepage to look up tickets for concerts, live sports, and more. They can then compare the seats and prices available for that event and purchase directly on the platform if they choose to do so.

Tickets can then be accessed via barcode in-app or by printing them, whichever is required by the venue.

Some of SeatGeek’s competitors include Ticketmaster, StubHub, and other online marketplaces to buy and sell tickets.

SeatGeek App in Apple App Store | SeatGeek Business Model | How Does SeatGeek Make Money? | How Does SeatGeek Work?
Source: Apple App Store | SeatGeek

How does SeatGeek make money?

According to SeatGeek, SeatGeek has partnered with more than 200 global enterprise clients and has more than 41 million tickets readily available on its platform ready for purchase.

So how does SeatGeek make money off of all those tickets and enterprise clients?

Below is a breakdown of how much money SeatGeek makes and its revenue model. Including all revenue streams and how much they charge for their services.

Here are the 2 ways of how SeatGeek makes money in 2022

SeatGeek has a revenue model that makes money in two (2) ways; by collecting a percentage of ticket sales and SeatGeek Enterprise.

#1. A Percentage of Ticket Sales

SeatGeek makes most of its money by collecting a percentage from each ticket sold on its platform.

The way it works is sellers can list their tickets on SeatGeek for free; but if and when those ticket(s) sell, SeatGeek collects 10% of the sale when the order is complete.

SeatGeek Seller Fees:

  • 10% of the sales price
SeatGeek Seller Fees | SeatGeek Business Model | How Does SeatGeek Make Money? | How Does SeatGeek Work?
Source: SeatGeek

Note: SeatGeek only makes public how many tickets they have on the platform, not how many tickets they have sold on it.

#2. SeatGeek Enterprise

SeatGeek also makes money through the services they provide for their enterprise clients on the platform.

Some of those services include things like distribution, customer transactional and engagement history data, hosting and security, and more.

As noted above, SeatGeek has partnered with more than 200 global enterprise clients. Those clients include notable organizations such as the Brooklyn Nets, the Dallas Cowboys, and the MLS.

SeatGeek subsidiaries, acquisitions, and exits

To date, SeatGeek, Inc. has made a total of 2 acquisitions.

Mergers and acquisitions business model
Source: Crunchbase | SeatGeek

SeatGeek profit and revenue

In 2021, SeatGeek reported $186.3 million in revenue.

Note: Because SeatGeek, Inc. is a privately held company, they are not required to make their annual reporting, such as Form 10-K’s, pubic.

What is the SeatGeek business and revenue model?

SeatGeek makes money through a few revenue models that they combine within their company, they are:

  • Commission based business model
  • B2B2C (partnerships) business model
  • Business to business (B2B) business model
  • Mergers and acquisitions (M&A) business model

SeatGeek funding, net worth, and valuation

According to SeatGeek’s Crunchbase profile, SeatGeek has raised $162.1 million over 10 rounds and has a post-money valuation of $100 million to $500 million as of April 18, 2017.