GlobeNewswire Inc | Jan 10, 2022 07:30AM EST

January 10, 2022

CHICAGO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ: SEAT) (Vivid Seats or the Company), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced that it has reached its 100 millionth ticket sold milestone. The milestone reflects Vivid Seats growth at scale, connecting millions of buyers with thousands of sellers, and the continued and increasing consumer demand for live events.

To celebrate the milestone, Vivid Seats has donated $100,000 to MusiCares, the leading music charity in the U.S. A strong supporter of MusiCares, Vivid Seats has donated more than $2 million since the start of the COVID-19 pandemic to help strengthen MusiCares relief efforts, supporting those in the music community and their families.

Todays announcement is another example of the incredible momentum we are seeing as a brand and business, said Stan Chia, Chief Executive Officer of Vivid Seats. I am so proud that we have been directly responsible for creating over 100 million memories that will last our customers a lifetime, as we continue to support and raise awareness around important causes, like MusiCares. We believe our marketplace delivers a seamless and trusted experience to help fans safely buy tickets at an exceptional value, so they can attend more of their favorite events. Whether they were cheering on their home-town sports team, rocking out to their favorite band, or attending acclaimed theater productions, we have been their trusted partner in delivering some of lifes most exciting moments - a hundred million times over.

Chia continued, I also want to take a moment and thank the Vivid Seats team for their relentless dedication, which resulted in reaching this important milestone and their continued commitment and focus on creating exceptional experiences for our customers. We believe in the power of shared experiences to connect people and its clear as we head into a new year that there is strong consumer demand for experiences.

Todays achievement comes on the heels of Vivid Seats entrance in the public markets and recent record-setting third quarter financial results. The Companys third quarter performance reflected its highest single quarter results across all our key financial metrics, as the team delivered $713 million in marketplace gross order volume or GOV, $140 million in revenues, and $42 million in adjusted EBITDA. Additionally, Vivid Seats recently completed the acquisition of Betcha Sports, Inc., a real money sports app with social and gamification features that enhance fans connection with their favorite live sports.

Vivid Seats allows fans of live events to connect seamlessly with third-party ticket sellers through its state-of-the-art technology platform and offers unique ways for fans to get rewards and perks. Its loyalty program, Vivid Seats Rewards, is designed to benefit every fan, whether they attend two events a year or twenty, giving every customer the opportunity to earn 10% value back on every ticket purchase. Through the Vivid Seats website and app, fans will see the latest live events across music, sports, comedy, and theater, all uniquely tailored to their preferences, favorite artists, and teams.

To learn more about Vivid Seats or to find tickets to your next event, please visit www.vividseats.com.

About Vivid Seats

Founded in 2001, Vivid Seats is a leading online ticket marketplace committed to becoming the ultimate partner for connecting fans to the live events, artists, and teams they love. Based on the belief that everyone should Experience It Live, the Chicago-based company provides exceptional value by providing one of the widest selections of events and tickets in North America and an industry leading Vivid Seats Rewards program where all fans earn on every purchase. Vivid Seats has been chosen as the official ticketing partner by some of the biggest brands in the entertainment industry including ESPN, Rolling Stone, and the Los Angeles Clippers. Through its proprietary software and unique technology, Vivid Seats drives the consumer and business ecosystem for live event ticketing and enables the power of shared experiences to unite people. Vivid Seats is recognized by Newsweek as Americas Best Company for Customer Service in ticketing. Fans who want to have the best live experiences can start by downloading the Vivid Seats mobile app, going to vividseats.com, or calling 866-848-8499.

About MusiCares

MusiCares helps the humans behind music because music gives so much to the world. Offering preventive, emergency, and recovery programs, MusiCares is a safety net supporting the health and welfare of the music community. Founded by the Recording Academy in 1989 as a U.S. based 501(c)(3) charity, MusiCares safeguards the well-being of all music people through direct financial grant programs, networks of support resources, and tailored crisis relief efforts. For more information please visit: www.musicares.org

VIVID SEATS CONTACT

Julia YoungJulia.Young@vividseats.com

MUSICARES CONTACT

Jenn Kerr, for MusiCaresjennifer.kerr@porternovelli.com