v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Subsidiaries  
Disaggregation of Revenue [Line Items]  
Revenue Recognition

3. Revenue Recognition

We recognize revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers. As discussed in Note 4, Segment Reporting, we have determined that we have two operating and reportable segments: Marketplace and Resale.

The following tables present Marketplace revenues by business model and event category for the three and six months ended June 30, 2026 and 2025 (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Owned Properties revenues

 

$

93,718

 

 

$

97,439

 

 

$

182,432

 

 

$

206,671

 

Private Label Offering revenues

 

 

10,230

 

 

 

17,039

 

 

 

19,043

 

 

 

41,547

 

Marketplace revenues

 

$

103,948

 

 

$

114,478

 

 

$

201,475

 

 

$

248,218

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Concert revenues

 

$

42,424

 

 

$

50,586

 

 

$

85,994

 

 

$

108,740

 

Sport revenues

 

 

41,721

 

 

 

35,818

 

 

 

71,263

 

 

 

74,416

 

Theater revenues

 

 

15,943

 

 

 

23,744

 

 

 

36,048

 

 

 

55,277

 

Other revenues

 

 

3,860

 

 

 

4,330

 

 

 

8,170

 

 

 

9,785

 

Marketplace revenues

 

$

103,948

 

 

$

114,478

 

 

$

201,475

 

 

$

248,218

 

During the three and six months ended June 30, 2026, we recognized Resale revenues of $25.9 million and $54.2 million, respectively, compared to Resale revenues of $29.1 million and $59.4 million, respectively, during the three and six months ended June 30, 2025.

At June 30, 2026, Deferred revenue in the Condensed Consolidated Balance Sheets was $17.3 million, which primarily relates to the Vivid Seats Rewards Program. Stamps earned under the Vivid Seats Rewards Program expire in two to three years, if not converted to credits, and credits expire in two to four years, if not redeemed. We expect to recognize all outstanding deferred revenue within the next seven years.

At December 31, 2025, $20.0 million was recorded as Deferred revenue in the Condensed Consolidated Balance Sheets, of which $4.4 million and $9.6 million was recognized as revenue during the three and six months ended June 30, 2026, respectively.

At December 31, 2024, $23.8 million was recorded as Deferred revenue in the Condensed Consolidated Balance Sheets, of which $4.5 million and $9.7 million was recognized as revenue during the three and six months ended June 30, 2025, respectively.