It’s been a while since we checked in with Twickets, but it seems business is good for the fan-to-fan ticket resale platform. IQ reports on a record quarter for the company, with more than 300k tickets listed on its service in the second quarter of this year.
The piece includes more stats on Twickets’ growth: 1.5 million visitors during Q2, and gross revenues up by 140% compared to Q2 2019 – a pre-Covid comparison of the kind also favoured by companies like Live Nation when measuring the bouncebackability of their businesses.
“Revenue from international territories has doubled since pre-pandemic levels, and growth has been particularly strong in mainland Europe,” founder Richard Davies told IQ, adding that this will be a spur for Twickets’ next expansions into Germany and France.
Twickets has always seen itself as the ethical wing of the secondary ticketing market: a place where fans can sell tickets to other fans because they can’t use them, rather than to make a profit. It’s a stance that has come to the fore whenever there are controversies around touting, and fan frustration if tickets for a big tour are near-impossible to buy.
Twickets’ reputation has also been bolstered by partnerships with prominent artists and events. Ed Sheeran and Adele for example, as well as an official deal to handle resales for the upcoming UK arm of the Taylor Hawkins Tribute Concert.
Twickets still has some powerful competition: Ticketmaster’s ‘Fan-to-Fan Ticket Exchange’ for example. Meanwhile, as dynamic (primary) ticket pricing expands, its implications for the secondary market – not just much-criticised platforms like Viagogo, but the fan-friendly likes of Twickets too – have yet to become clear. Still, it feels a positive story that the latter is thriving.
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