Vivid Seats Forecasts Potential Revenue Fall for 2023
Vivid Seats is a ticket reselling company who said that their revenue could slip in 2023 due to competition and limited industry growth.
Vivid Seats Inc. warned that revenue could fall in 2023 due to a competitive market and expected industry growth.
According to the online ticket marketplace, this year's revenue is expected to be between $580 million - $610 million. The company generated $600.3 million in revenue last year.
Chief Financial Officer Lawrence Fey stated that the company expects a muted industry growth for 2023.
Vivid Seats' shares fell 7.2% to $6.20 in premarket trading.