• Loading stock data...
Tuesday, May 27, 2025

StubHub Bets on IPO Lifeline As Ticketing Competition Heats Up

StubHub, a highly influential entity in ticket resale that has seen market turbulence and heightened competition in recent years, looks to the next big chapter of its existence. 

Mark Smith-Imagn Images

StubHub, once a dominant entity in ticket resale that helped make the market appealing to sports leagues and teams, is seeking to go public in a bid to revive its fortunes. 

The company filed for an initial public offering with the U.S. Securities and Exchange Commission for a new listing on the New York Stock Exchange, though its submission did not include a target date or share price. StubHub has been owned by multinational ticket company Viagogo since 2020 after being purchased from the publicly traded eBay in a $4.05 billion deal. 

Viagogo is led by Eric Baker, one of StubHub’s founders.

StubHub said in its prospectus that it generated $1.77 billion in revenue in 2024, up 29% from the year before, but saw its net income swing from a $405 million profit to a $2.8 million loss last year as sales, marketing, and administrative costs all increased substantially. 

That same filing, however, detailed a goal to elevate the business, in part through a greater blending of primary and secondary ticketing.

“We are in the early innings of disrupting the legacy primary ticketing model by making our tech-enabled marketplace available to content rights holders to distribute original issuance tickets,” StubHub said. “We believe that buyers want a single, trusted, and reliable destination to buy any ticket anywhere in the world … and do not care whether a ticket is originally issued or resold.”

Market Dynamics 

Roughly two decades ago, StubHub played a highly influential role in elevating the entire ticket resale market—something that previously existed largely in the shadows and was widely shunned by the sports industry. Now, it exists as a fundamental part of all ticketing operations. Over subsequent years, StubHub saw sharply heightened competition from numerous other companies including SeatGeek, Vivid Seats, and Gametime, while Ticketmaster, the largest player in primary ticketing, also moved into the secondary business. 

More recently, ticket resale also has seen heightened turbulence, with many of these players seeing diminished margins and depressed economic results. Vivid Seats went public in 2021 through a special purpose acquisition company (SPAC) but has seen its stock lose more than three-quarters of its value since then. SeatGeek has considered an IPO on multiple occasions but has yet to do so, and according to multiple reports, recently cut about 15% of its staff. 

While sports have been a fairly predictable source of business for these companies, their financial fortunes have often wavered based on the status of big music tours. Taylor Swift’s Eras Tour, which set a series of financial and attendance records over its 2023–2024 run, temporarily lifted the business but no such major outings are planned for this year.

The StubHub IPO effort, however, arrives ahead of a wave of major international events coming to the U.S. in the next few years, including the men’s 2026 FIFA World Cup and 2028 Summer Olympics.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Caitlin Clark Injury Sends Fever Road Ticket Prices Plummeting

Clark has never missed a game in her WNBA career.

SEC Push for More CFP Power Draws Congressional Attention

Greg Sankey attacks the Big 12 and ACC while seeking more autonomy.

Paul Skenes Blockbuster Trade Buzz Is Building. Will the Pirates Cash In?

Trade talk reflects the pitcher’s big surplus value and the Pirates’ struggles.

Featured Today

How Rolex Paved the Way for Luxury’s Love Affair With Tennis

“It’s almost impossible to think about tennis without thinking about Rolex.”
Mar 23, 2025; Miami, FL, USA; Alexandra Eala (PHI) reacts after winning a point against Madison Keys (USA)(not pictured) on day six of the Miami Open at Hard Rock Stadium.
May 24, 2025

Alex Eala Is Defying Her Country’s Odds to Make French Open History

The Philippines native has overcome a unique set of financial odds.
May 24, 2025

Indiana Is the Center of the Basketball Universe—Thanks to Both Pro Teams

The Fever and Pacers are thriving at the same time.
Around the Horn - October 26, 2020
May 23, 2025

‘Quirky, Nutty, Bombastic’: 10 ‘Around the Horn’ Faces on Their Top Moments

“A quirky, nutty, bombastic, mostly wrong, sometimes right, crazy sports family.”
Mar 23, 2024; New York, New York, USA; Sneakers worn by New York Knicks guard Jalen Brunson (11) during warmups prior to the game against the Brooklyn Nets at Madison Square Garden.

Nike to Raise Prices on Sneakers Above $100

Kids products and Air Force 1s won’t be affected.
May 15, 2025

20 Hats Per Minute: Merch Madness Hits PGA Championship

Headwear is among the most popular items selling in Charlotte.
Arc'teryx
May 20, 2025

Expensive Outdoor Gear Is Bright Spot Amid Tariff Turmoil

Amer Sports says tariffs will have a “negligible” impact on its results.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

In Episode 7 of Portfolio Players, go inside the boardroom with Avenue Capital CEO and former Milwaukee Bucks co-owner Marc Lasry on Giannis’s future, women’s sports, and upstart leagues like TGL and Unrivaled. 
On-Running
May 14, 2025

On Says It’s Raising Prices—but Not Because of Tariffs

“We want to be the most premium performance sportswear brand,” On’s cofounder said.
Soar
May 12, 2025

Running Is a Bright Spot As Retailers Reel From Trump Tariffs

Sales of running shoes rose 7% in the first quarter.
A'ja Wilson
May 6, 2025

Why Nike Wanted A’ja Wilson’s New Shoe to Sell Out in Minutes

Nike gave fans a taste of the A’Ones with a limited drop.
Michelle Wie West
exclusive
May 6, 2025

Michelle Wie West Is Latest Athlete to Invest in Togethxr

The brand tripled its revenue year over year and is profitable.