Eventbrite is a popular ticketing system. They are, however, expensive. Eventbrite’s percentage fees for the Professional Package are $1.59 + 3.5%. For example, a $20 ticket will cost you $2.29. To compare, TicketPeak fees are $0.75 + 1.5%. That $20 ticket will incur ticketing fees of $1.05, a reduction of $1.24 per ticket.
So, for every 1,000 tickets your sell, Eventbrite costs you $1,240 more. In other words, if you used TicketPeak instead of Eventbrite, for every 1,000 tickets you sell, you would have $1,240 more to pay employees, purchase supplies, or to add to profits.
“Yeah, but We Pass On the Fees”
With TicketPeak, you can still pass on the fees. You’d be passing on lower fees though, so your customers will pay less, and perhaps your revenue will go up. Or, if charging the higher fees is fine with you, do that and earn margin on the service fees. With TicketPeak, you can charge whatever service fees you want.
For example, if you really want your customers to pay the higher service fee of $2.29, you could do that with TicketPeak. Your cost, though is still $1.05, so again, you are getting $1.24 per ticket to add to profits, to purchase other things, or to pay employees or performers.
“Yeah, but Eventbrite Has a Lower Cost Option”
Indeed, Eventbrite has their “Essentials” option, which has fees of $0.79 + 2% (still higher than TicketPeak). With Eventbrite Essentials, you do not get phone, chat, or email support; you are restricted to one ticket type (E.g. “General Admission”); and you receive no training.
If you sell a good number of tickets, like 10,000 or more per year, you’ll likely need to use more than one ticket type, and you may occasionally want to talk to a human (or at least email one) to ask a question. For a more complete comparison of TicketPeak, Eventbrite Essentials, and Eventbrite Professional, see our recent post.
“What About Credit Card Costs?”
If you use your own credit card gateway, like PayPal or Authorize.net, you will pay them whatever you have negotiated with them, whether you use Eventbrite or TicketPeak. If you want to use the ticketing company’s payment processor, then Eventbrite does indeed have a good rate for payment processing. They charge 2.5% compared to TicketPeak’s $0.29 + 2.9%.
If you add the ticketing fee and the payment processing fees together, TicketPeak is still significantly lower. TicketPeak’s fee including payment processing is $1.04 + 4.4%. Eventbrite is $1.59 + 6%.
Including payment processing then, for a $20 ticket, Eventbrite will charge $2.79, and TicketPeak would charge $1.92, or $0.87 less per ticket. You’re still saving close to a buck a ticket.
“Yeah, but We Like Giving Money to Giant Ticketing Companies”
Well, your best bet is to stick with Eventbrite since their prices are far higher. Interestingly though, even with their high fees, they are unprofitable and their stock has dropped significantly. According to their most recent fiscal year report, they lost $64 million on $292 million of revenue. At the time of writing this post, their stock is down approximately 54% from its high.
Alternatively, if you’d like to see if TicketPeak is right for you, give us a call at 888-551-5101, or request a demo. In fact, we’re currently offering incentives to frequent event producers who currently use Eventbrite.