As Seatwave becomes #1 Independent Ticketing Website in
Europe, fans benefit from decreasing ticket prices
LONDON: 27 February 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
"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."