Though the ticketing business has come to be dominated in many markets by a handful of large players like Live Nation-owned Ticketmaster and AEG’s AXS, there’s no shortage of startups looking to bite into the giants’ market share.
Among them is Seat Unique, a London-headquartered “premium experience platform” that’s carving out a niche for itself with VIP tickets and hospitality packages for music, sport, cultural and theatrical events.
The company announced on Wednesday (August 28) that it has raised GBP £14.5 million (USD $19.15 million) in an extended Series A funding round, led by Nickleby Capital.
The extended funding round builds on an initial raise of £7 million ($9 million) in the summer of 2023, also led by Nickleby Capital, and with the participation of some prior investors including Richard Flint (board member at LADBible Group and former CEO of Sky Bet) and Simon Murphy (serial entrepreneur, investor and founder of the TFO Group).
The company has attracted investment particularly from top athletes, including Olympic champion runner Dame Jessica Ennis-Hill, footballer John Terry, rugby players Matt Dawson and Sam Warburton, and cricketers Ben Stokes and Stuart Broad.
Founded by CEO Robin Sherry, Seat Unique has built a network of partnerships with more than 60 UK venues, clubs and promoters, among them Yorkshire Cricket, Jacksonville Jaguars UK, and Burnley FC.
Its current offers include hospitality packages and premium seats for the England v. Finland football (soccer) match at London’s Wembley Stadium in September, and WWE Live events at multiple venues in Newcastle and Manchester this October.
On the music side, Seat Unique is offering VIP tickets and hospitality packages for numerous major acts including Billie Eilish, Taylor Swift, Ed Sheeran, NCT Dream, Dua Lipa, Lauryn Hill, and the recently reunited Oasis.
The platform runs on “proprietary dynamic pricing software,” which usually means prices for events are adjusted in real-time based on demand.
“The experience economy is rapidly becoming the backbone of the music industry, as fans increasingly seek out not just live performances, but unforgettable, one-of-a-kind experiences.”
Richard Flint, Seat Unique
The software “enables rights holders to optimize attendance, while fans benefit from a transparent and trustworthy purchasing experience of authentic, guaranteed inventory,” Seat Unique says.
The company also announced a board of advisors that includes Alastair Lukies CBE, Dame Alison Rose, Sir Michael Lockett, Tim Griffin, and Damien O’Donohoe, who will be joining existing board members Richard Flint (Chairperson) and Saav Shah of Nickleby Capital.
“The addition of such distinguished figures to our group of board advisors is a testament to the impact we are making in the industry. This funding will allow us to continue enhancing our offering, ensuring that fans have unparalleled access to the best live experiences,’ Sherry said.
“The experience economy is rapidly becoming the backbone of the music industry, as fans increasingly seek out not just live performances, but unforgettable, one-of-a-kind experiences,” added Flint.
“Given the significance of these occasions, fans want to be certain that they are buying from a trusted and transparent company that only uses genuine sources. We are delighted with the recent growth that Seat Unique has seen, and the knowledge, connections and resources that these new investors bring will help us take advantage of the huge opportunities ahead of us.”
Seat Unique backs up its assertion that consumers are increasingly seeking out experiences, citing data from a UK study carried out by Mastercard earlier this year, which found that 50% of British consumers plan to spend more on experiences this year than last, while 80% agreed that spending on experiences is “usually, or always, worth it.”
“By bridging the gap between rights holders and fans, Seat Unique is creating a more connected and engaging environment where live experiences are more accessible, memorable, and secure.”
Alastair Lukies CBE
“The booming experiential economy is all about creating unforgettable moments, and Seat Unique is leading the way by ensuring that fans can access these opportunities seamlessly,” Stuart Broad said.
“By bridging the gap between rights holders and fans, Seat Unique is creating a more connected and engaging environment where live experiences are more accessible, memorable, and secure,” added Alastair Lukies CBE.
Seat Unique plans to use the raised funds to further develop its platform, expand into new sectors, and “deliver even greater value to both fans and rights holders.”
Seat Unique’s funding announcement comes just days after ticket marketplace platform TickPick announced a $250 million investment from Brighton Park Capital.
And they’re not the only ticketing platforms raising bug bucks these days: DICE announced in August 2023 that it had raised $65 million in a funding round led by investment firm MUSIC. That followed a $122-million Series C funding round in 2021. Last month it was reported that the company is exploring a sale valuing it at “hundreds of millions of dollars.”
As of 2020, ticketing platform Lyte had raised $48 million. Events platform Posh, which focuses on small-scale, intimate events, announced last month that it had raised $22 million in a Series A round led by Goodwater Capital, with additional backing from FirstMark Capital, Companyon Ventures and Epic Ventures.Music Business Worldwide
