The following is a summary of the Eventbrite, Inc. (EB) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 revenue grew 7% year-over-year to $84.6 million with adjusted EBITDA at $8.5 million, representing just over 10% of revenue.

• Revenue from ticketing dropped by 4%, impacting the majority of overall company revenue. Ticket volume and creator count contraction significantly influenced this figure.

• Eventbrite aims for adjusted EBITDA margins, excluding non-routine items, at approximately 10% for FY 2024.

Business Progress:

• Introduced a new creator pricing model which affected short-term performance, decreasing paid tickets by 9% and total tickets by 16%.

• Rolling out new pricing packages and improved event creation flows to address feedback.

• Close to launching a free tier with no marketplace fees aiming to stabilize paid ticket volume.

• 35,000 creators currently subscribe to the Pro plan, enhancing future revenue from premium features.

• Enhanced buyer engagement through a TikTok partnership delivering substantial daily impressions.

• Plans to introduce an improved mobile app experience to increase engagement and consumer retention.

Opportunities:

• The reintroduction of a free tier expected to attract new creators and regain those lost due to pricing barriers.

• Expansion in advertising leading to $2.9 million in ad revenue, a 125% year-over-year increase.

• New large creator bookings grew by nearly 60% in Q2, showing potential for further market penetration.

Risks:

• The new pricing model initially reduced creator engagement, leading to lower ticket sales and overall revenue impact, which highlights operational risks associated with major strategic changes.

More details: Eventbrite IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.