v3.25.0.1
Revenue Recognition
 12 Months Ended
Dec. 31, 2024
Hoya Intermediate, LLC  
Disaggregation of Revenue [Line Items]  
Revenue Recognition

4. Revenue Recognition

During the years ended December 31, 2024, 2023, and 2022, Marketplace revenues by business model consisted of the following (in thousands):

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Owned Properties revenues

 

$

533,086

 

 

$

462,263

 

 

$

400,413

 

Private Label Offering revenues

 

 

114,805

 

 

 

135,125

 

 

 

110,681

 

Marketplace revenues

 

$

647,891

 

 

$

597,388

 

 

$

511,094

 

During the years ended December 31, 2024, 2023, and 2022, Marketplace revenues consisted of the following event categories (in thousands):

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Concert revenues

 

$

283,192

 

 

$

308,507

 

 

$

251,423

 

Sport revenues

 

 

202,220

 

 

 

199,837

 

 

 

196,467

 

Theater revenues

 

 

137,715

 

 

 

83,273

 

 

 

61,483

 

Other revenues

 

 

24,764

 

 

 

5,771

 

 

 

1,721

 

Marketplace revenues

 

$

647,891

 

 

$

597,388

 

 

$

511,094

 

In our Resale segment, we primarily acquire tickets to resell on secondary ticket marketplaces, including our own. Resale segment revenues were $127.7 million, $115.5 million, and $89.2 million during the years ended December 31, 2024, 2023, and 2022, respectively.

At December 31, 2024, Deferred revenue in the Consolidated Balance Sheets was $23.8 million, which primarily relates to the Vivid Seats Rewards Program. Stamps earned under the loyalty 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, 2023, $34.7 million was recorded as Deferred revenue in the Consolidated Balance Sheets, of which $25.8 million was recognized as revenue during the year ended December 31, 2024. At December 31, 2022, $32.0 million was recorded as Deferred revenue in the Consolidated Balance Sheets, of which $17.6 million was recognized as revenue during the year ended December 31, 2023.