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US Ticket Resale Borrows $77.5M

Noted within the Ticketing Business News (https://www.theticketingbusiness.com/2020/07/17/us-secondary-ticketing-sector-loans-77-5m-ppp-remain-afloat/) a number of US ticket resale companies have borrowed $77.5M from the Government Paycheck Protection Program (PPP), as of July 2020.

The US secondary ticketing sector is borrowing up to $77.5m via the Paycheck Protection Program (PPP) to remain afloat amid the COVID-19 pandemic, which has brought the live events industry to a complete standstill for four months ……’

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Until there are new onsales for new events, at scale, ticket retail companies are living on borrowed time, and for postponed events on consumers cash.

 

By T_J_Chambers

Advisor / Consultant & occasional posts

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