Here’s a new buzzphrase for the live-music industry: ‘post-primary ticketing’. What’s that? According to ticketing firm Lyte, it’s “private label ticketing services offered to fans by the most iconic sports and entertainment brands… a platform that addresses the customer needs ignored by the traditional secondary market, and it does so in a way that is fair to fans, controlled by rights holders and which harnesses the best in yield management and marketplace science”. Investors think there’s something in the idea: Lyte has just raised a $15m Series A funding round.
The company also says it’s been working with the Coachella and Mumford & Sons among other clients, as well as integrations with AEG, Live Nation and Eventbrite. “Lyte has seen explosive growth this year, matching its 2018 revenue by Q1 and growing reservations booked on the platform to $78M year-to-date, up 5-fold from a year ago,” claimed Lyte in its funding announcement.