Vivid Seats Inc. (NASDAQ:SEAT) Q1 2024 Earnings Call Transcript

But if you look at the industry in terms of prices that are out there, I don’t think you’ll find a price that is free of charge. So I think should we decide at some point to monetize the product, I think it would wholly be within industry norms to do so.

Larry Fey: And then on the macro question, I think we had previously articulated our views on long-term industry growth being, call it in North America, high single digits to low-level. Coming off of a couple years of really strong performance with the industry growing well above those levels, we had built in a perspective of being on the lower end of that range. With that, also including some acknowledgment that there’s a couple hundred basis points of headwind with Taylor and Beyonce not being on the road in 2024. So nothing’s meaningfully changed in that regard. I think I’d call out that if anything, sports is trending a little bit better than we would have expected given some of those favorable exogenous influences start the year.

And then if you can think about the calendar of concert timing, the headwinds that we are quoting on a full-year basis disproportionately hit in the first seven months of the year and alleviate a bit in the back app. And so I think you’re swimming in the — you’re swimming upstream a bit on the concert side right now, but I expect that to alleviate on the back end of the year.

Ralph Schackart: Great. Thanks, Stan. Thanks, Larry.

Operator: Thank you. I am showing no further questions at this time. Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.