Vivid Seats Raises Revenue Outlook for 2023, Expects Further Gains in 2024
Vivid Seats, the leading online ticket marketplace, has announced an increase in its revenue forecast for 2023 and is projecting even more growth in 2024. The company now anticipates revenue in the range of $685 million to $705 million for 2023, up from the previously stated guidance of $630 million to $650 million.
In addition to the boosted revenue forecast, Vivid Seats also adjusted its projected earnings before interest, taxes, depreciation, and amortization (EBITDA). The new estimate is a range of $136 million to $142 million, compared to the earlier outlook of $125 million to $135 million.
Furthermore, Vivid Seats revised its expectations for the total transactional amount of orders placed on its platform for the year. The revised forecast now stands at $3.75 billion to $3.9 billion, as opposed to the previous estimate of $3.4 billion to $3.6 billion.
Looking ahead to 2024, Vivid Seats is providing guidance for continued growth. The company forecasts revenue between $810 million and $840 million, with adjusted EBITDA ranging from $170 million to $180 million. Moreover, Vivid Seats expects orders worth $4.2 billion to $4.5 billion to be placed on its platform during that year.
With these positive revenue projections and sustained growth, Vivid Seats is well-positioned as a leading player in the online ticket marketplace.
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