SAN FRANCISCO--(BUSINESS WIRE)--Lyte, the leading ticketing marketplace reducing the risk of producing, paying for, and attending live events, announced today that its open approach to ticketing has generated more than $750 million in reservations for live events as fans respond to fresh innovations that solve long-lasting pain points for the live events industry.
“We are innovating in a space that is innovation starved,” said Ant Taylor, CEO and founder, Lyte. “Our reservation system is so much more than just a waitlist. With Lyte, fans put down their credit card, save money, and receive greater flexibility and transparency. For event producers, they now understand what fans are willing to pay upfront, which brings them more revenue, earlier on. We help everyone win.”
Lyte pioneered ticket reservations to solve the pain point of queuing up for ticket on sales. Lyte’s success in generating more than $750 million in cumulative reservations reflects real demand that event producers have used to accurately balance ticket inventory and prices to satisfy fan demand.
Ticket reservations on Lyte allow fans to hold their spot in line for tickets for a particular show by putting a credit card on file. They select the number of tickets they want and share the link with friends, who can also join the list. When tickets meeting their criteria become available, they can get them within minutes. It’s easy, safe, and an experience like buying anything else online today. This system also means there is less inventory available for ticket scalpers to scoop up and resell at predatory prices on unaffiliated sites, helping events sell out more quickly.
“Lyte’s ticketing platform creates a great experience for fans and a meaningful difference for our business,” said Chris Den Uijl, founder and owner of Baja Beach Fest, Sueños Music Festival and North Coast Music Festival. “Lyte’s ticketing reservations and other innovations provide us with better visibility into event demand, more meaningful data, and we get to help our fans avoid scalpers. Our partnership with Lyte is expanding the realm of what’s possible.”
About Lyte
Lyte is the leading ticketing marketplace reducing the risk of producing, paying for, and attending live events. Lyte’s tech platform enables amazing experiences for fans and artists through predictive demand insights and smarter event financing. Lyte’s platform is used by more than 5,700 top artist tours, festivals, venues, and live events, including BottleRock Napa Valley, Baja Beach Fest, Mad Cool Festival, Lost Paradise, Anime NYC, and the Association of Volleyball Professionals (AVP). For more information, visit https://lyte.com/.
