StubHub reaches out to industry amid 32% growth
The ticket resale giant, which once again increased revenues in Q3, says it's actively trying to reinvest in music – and that high secondary prices aren't good for anyone
News By | 20 October 2016
StubHub has launched a renewed bid to build bridges with the wider live music industry as it celebrates another quarter of strong growth.
The secondary ticketing site grew turnover 32%, to US$263 million, and gross merchandise volume (GMV) – or the value of tickets sold – 23%, to $1.1 billion, in the third quarter (Q3) of 2016. No profit figures are available for StubHub specifically, but eBay’s gross profit fell slightly from $1.74bn to $1.72bn compared to Q2.
The figures are slightly less impressive than…
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