Vivid Seats Inc. Class A (SEAT)

The past six months have seen several significant events impacting Vivid Seats' stock price. In Q2 2025, the company reported a substantial decline in marketplace ticket resales, revenue, and a net loss, attributed to seasonal effects, economic uncertainty, and the FTC's all-in pricing mandate. In response, Vivid Seats announced a $25 million annualized cost reduction program and executed a 20-to-1 reverse stock split. The stock price has experienced a significant decline over the past year. On November 6, 2025, Vivid Seats reported its Q3 2025 earnings and announced a CEO transition, with Lawrence Fey appointed as the new Chief Executive Officer. Analyst recommendations for SEAT are predominantly "Hold," with several firms reducing their price targets in November 2025.

Demand for Vivid Seats' products and services exhibits seasonality, though diversification across event types helps reduce overall variability. The late fall and winter season is typically strong due to major sports events, the holiday theater season, and the beginning of concert on-sales for the following year. The company's Q2 2025 earnings call noted an industry-wide dip in June, attributed to economic uncertainty and the FTC's all-in pricing mandate. Despite these fluctuations, the CEO anticipated positive cash flow in Q3 due to typical seasonality improvements.

Vivid Seats, Inc. is an American online ticket marketplace connecting fans with ticket sellers for live events, operating in the Consumer Discretionary sector. The company's primary products include tickets for sports, concerts, and theater events. Vivid Seats offers a loyalty program called Vivid Seats Rewards and provides Skybox, an ERP tool for professional ticket sellers. The company previously had a daily fantasy sports offering called Vivid Picks, which was shut down on July 18, 2025.

Headquartered in Chicago, Illinois, Vivid Seats primarily serves the North American market. The company has expanded its reach through acquisitions, including Wavedash Co., Ltd. and Vegas.com. While its services are available worldwide, its core operations and market share estimates are largely focused on North America.

Vivid Seats has maintained a positive brand reputation in terms of customer service. The company was recognized by Newsweek as the #1 brand in ticketing for customer service in America for the second consecutive year in 2021, and again in 2023 for the 2024 list. Vivid Seats emphasizes its commitment to providing industry-leading customer service, including refunds, and boasts high Net Promoter Scores. The company also highlights its official partnerships with major brands like ESPN, United Airlines, the San Francisco 49ers, and the Los Angeles Chargers as a testament to its trusted marketplace status.

Vivid Seats, Inc. has a diverse ownership structure, with significant holdings by institutional and individual investors. Institutional shareholders collectively own between 33.66% and 53.09% of the company's stock. Major institutional owners include Vanguard Total Stock Market Index Fund Investor Shares, Fidelity Stock Selector Small Cap Fund, and Blackrock Inc. Individual ownership is notably high among Vivid Seats insiders, who own 1,782.03% of the company, with Hoya Topco LLC being the largest individual shareholder. Other significant individual and insider owners include Post Portfolio Trust LLC, Eldridge Industries LLC, and GTCR Investment XI LLC.