America is staying-in: StubHub’s refusal to say how many people will buy gig and sports tickets over next few months spooks investors
Some concert venues, theme parks, and sporting events are feeling the pinch as more Americans decide to save a few bucks by staying in.
As costs continue to rise from inflation and President Donald Trump’s tariffs, people are tightening their belts on non-essentials like eating out, vacations and entertainment.
On Friday, StubHub — a ticket marketplace for sports, concerts and theater — saw its stock price plunge 24 percent after the company spooked investors by refusing to offer financial guidance for the rest of this quarter.
CEO Eric Baker insisted that the demand for live events is “phenomenal” and said the company will offer 2026 guidance next quarter. Baker cited the company’s “long-term focus” while the chief financial officer, Connie James, noted that changes in typical tour schedules meant the company would have to wait for more information.
“Several large tours that would typically go on sale in the fourth quarter occurred earlier in late September,” James said. “It remains to be seen how this concert on-sale timing dynamic plays out in November and December.”
The Independent has contacted StubHub for comment on ticket sales.
Last week, United Parks & Resorts, parent company of SeaWorld, Busch Gardens, and Sesame Place parks, said some of its parks have seen declines in attendance and revenue this quarter.
“We are obviously not happy with the results we delivered in the quarter,” United CEO Mark Swanson said during the call. “The consumer environment in the U.S. appears to be inconsistent, as has been outlined by a number of other leisure and hospitality businesses. Nonetheless, we can and expect to do better.”
United’s stock price was down around 43 percent dip over the last year, according to investing.com analysis.
Swanson blamed the poor attendance in part on bad weather on key summer holiday dates but a recent Deloitte survey suggested the problem was more widespread.
The multinational professional services network released its 2025 Holiday Travel Survey and found that while 54 percent of respondents plan to travel for the winter holidays, their average budget is $2,334, down 18 percent on last year. Gen Z travelers are planning to cut even further, reducing their travel budgets by 31 percent compared to last year.
Some 31 percent of respondents also said their overall financial situation was worse than in 2024 – up from 26 percent of those polled by Deloitte last year.
In May, music business analytics company, Chartmetric, released a report showing a considerable decrease in the number of artists on tour in 2024. The report blamed rising travel and accommodation costs for artists, low ticket sales for some shows, and a significant increase in visa application fees for foreign musicians coming to the U.S., which rose to $1,615 last year from $460 in 2023.
However Live Nation, the massive live event production and ticket company, reported in May that stadium ticket sales from January through mid-April were up by 80 percent year-over-year, according to Music Business Worldwide. That report supports Baker’s comment that live events are still a draw, even as Americans cut back in other areas.
