If you’re an event organizer then you might be aware of Eventbrite. It is the popular platform to discover events, create or sell tickets online. Sounds fantastic right!!! All you need to visit the Eventbrite website and check out the popular events. There are multiple event categories available at Eventbrite that are ranging from music to charity.
Let’s have a deep look at What is Eventbrite? How does Eventbrite is making good profits?
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What is Eventbrite?
Eventbrite is an excellent ticketing platform and event technology destination launched in 2006. Eventbrite has hosted more than 4.7 million events around the world.
It is helping small and large businesses organize and sell their tickets easily. On the other hand, Eventbrite is helping customers to discover the latest and popular events within a single click. The events will be ranging from workshop to conference and music festival to concerts. All size and shape events are encouraged under the Eventbrite roof.
Did you know that Eventbrite can be accessed through website and mobile application? Yes!!! Users can easily register and buy tickets on a full-fledged event website. The event organizers can enjoy several benefits such as email invitation creation, ticket selling, planning tools and RSVP tracking. Here the tickets sales can be easily managed through integration on Facebook. The real-time sales information will help event organizers to know about the attendance and the revenue.
How Does Eventbrite Make Money?
According to a recent analysis, Eventbrite has earned $24.8 billion in 2020 as the annual revenue. The company is expected to hit more than $61.7 billion by 2027.
It’s no surprise that coronavirus is becoming a challenge for most of the business. Many companies have been brought down due to the pandemic. But Eventbrite is making good income during the pandemic, there will be no signs of a slowdown in the near future.
No matter what, Eventbrite is the excellent and leading business in this segment. The company is making a good income as other businesses. Eventbrite makes income through multiple business segments such as sales charges, marketing activities and supplier tools.
Now let’s have a close look at every business segment.
Transaction Fees
Many businesses such as Amazon and eBay often charge for every transaction. Similarly, Eventbrite makes income on every transaction done on its platform. Let’s keep the things clearly, the company charges a service fee and payment processing charges on every transaction. It means the income purely depends on the number of tickets sold. There are few events that are hosted for free. In these cases, no charges are applied. The organizer is completely responsible and decides the transaction fee can be passed by the customer or handle themselves,
The transaction fee may depend on various aspects. It includes the place where the event is hosted, package selection, entry ticket and more. Currently, the company is offering three primary packages such as
- Essential
- Professional
- Premium
The pricing and features will depend on the package selected by the organizers. Every package consists of its own set of features. Let’s give a look at these packages
Essential
The essential package is suitable for the organizers who are planning to start selling their tickets within minutes.
- Organizers can create a beautiful and attractive event listing webpage within a fraction of seconds.
- Access to analytics, support, reporting and payment processing.
- No charge for free tickets
- Managing and tracking sales is simple and easy from any device.
- Mobile optimized event webpages.
Professional
If you’re looking for extra-ordinary solutions, then choosing Eventbrite Professional package is helpful for you. The solution will boost your sales and improve your business effectively.
- A powerful solution designed for organizers.
- Personalized checkout forms
- In-depth sales analytics
- Unlimited ticket types
- Reserved seating
- Support through chat and email
Premium
The premium package is suitable for the business who are planning to organize large and complex events. Essential and Professional features are also included in Premium.
- Team access and permissions
- Instalment payments are available
- Rental devices for entry and box office
- product training
- Customer support during business hours
The transaction fee is fixed i.e 2.5%. The organizer needs to pay 2.5% on the total ticket price. Considering the United States, the transaction fee may vary according to the package selected, let’s discuss
Essential – 2% + $0.79 (2% is considered as the ticket cost and $0.79 is on every ticket sold)
Professional – 3.5% + $1.59 (ticket cost and sold ticket)
Premium – The transaction fee depends on the request.
As the company is offering various packages it is catering to a massive range of organizers. These organizers are ranging from start-up to large-scale concerts.
Eventbrite Organizer
Eventbrite organizer is a free application available on Google Play Store and App Store. The app allows organizers to enhance their expereince while hosting by providing attractive features.
Hosts can watch their tickets sales on real-time via the Eventbrite mobile app. They will have complete control over their event. With real-time attendance tracking organizers can make an informed decision within no time. Also, they can accept safe and secure payments without any worries. Few attractive features of Eventbrite are track attendance, box office kit, scanner and more.
As mentioned earlier, the Eventbrite organizer application is available for free. Then how does it making money through this business segment? Let’s discuss now
Eventbrite monetizes through every transaction charges whenever a user or merchandise purchases a ticket. Here a 3% transaction fee is charged on every ticket sold. Additionally, $1 is charged as a service charge on every processed paymente. On the other hand, the application is providing other services such as rent scanning, equipment and more. These are used during the event, the price starts from $99 onwards.
Donation Tickets
So far we have discussed how does Eventbrite is making money through tickets and organizer application. Now let’s discuss how does Eventbrite is earning money through donation tickets. Apart from charging the ticket, the organizer can collect donations from the users during the event. Simply put, users will pay a fixed amount of fixed ticket charge, attendees can help the organizer by providing donations.
The percentage fee is collected on each donation sold through Eventbrite. This could truly depend on the place where the event is hosted. With donation tickets, 2% is charged on every sold ticket. Sometimes, a transaction fee of 2.5% will be added.
Future Revenue Streams
The popular company Google has already dominated the marketing world. Eventbrite has taken its place in the event discovery space. Currently, the company is making good income through online ticketing and that is continuously working fine. Further, Eventbrite is planning to expands its business segments to earn better profits. As per S-1 filing, the company has planned to extend its profit by offering tours, movie theatres, attractions, arts and more. Simply put, the company is planning to offer entry tickets for the mentioned experiences on its website.
Wrapping Up
Eventbrite is an excellent event management and ticketing destination. It allows the people to create, host and promote their events. There are millions of events hosted on Eventbrite worldwide. It includes yoga classes, conference, concerts, music festivals and more. Eventbrite has earned $24.8 billion in 2020 as the annual revenue. Eventbrite revenue model work in a simple and straightforward way. It is based on transaction charges for every ticket sold. Later, the company is earning money from various strategies i.e renting the scanning devices and more. Also, 2% of the transaction fee is charged on every ticket sold on donation tickets and Eventbrite organizer app.
