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Eventbrite says paid-ticket volume grew 17% from July to August

Eventbrite Inc. announced Wednesday that it saw 17% growth in paid tickets in August compared with July, and 26% growth in paid tickets to in-person events. Still, the online-ticketing company's business is down sharply relative to a year ago, with August's paid-ticket volume falling 65% on a year-over-year basis. Eventbrite said that this decline marked an improvement from the second quarter, when paid-ticket volume plunged 82%. The company said in its release that "many creators have rescheduled their events for 2021 and have funded the majority of attendee refund requests on their own." Options like event credits have "helped reduce the company's advance payout balance to $230 million," Eventbrite said, and its "additional company-funded chargebacks and refunds" totaled less than $300,000 since the company last reported results in early August. Eventbrite executives will be speaking at a Goldman Sachs conference at 2:05 p.m. ET Wednesday. Shares are inactive in premarket trading Wednesday. They've declined 43% so far this year as the S&P 500 has risen 5.3%.

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