Vivid Seats Inc..
SEAT.US | Other reservation service and related activities
Vivid Seats Inc. operates an online ticket marketplace connecting buyers and sellers for live events. The company facilitates the purchase and sale of tickets to sports, concerts, and theater events. Vivid Seats does not directly own or control the tickets but provides a platform for individuals and...Show More
Better Health for All
0
No evidence available to assess Vivid Seats Inc. on Better Health for All.
Fair Money & Economic Opportunity
0
Insufficient evidence to determine a value score for Vivid Seats Inc. regarding Fair Money & Economic Opportunity. No articles or relevant information found. A neutral score of 0 is assigned.
Materiality Analysis: Company Summary (75-100 words): Vivid Seats operates an online ticket marketplace connecting buyers and sellers of event tickets across sports, concerts, and theater. It operates through Marketplace and Resale segments. The Marketplace segment facilitates transactions, while the Resale segment acquires tickets for resale. Vivid Seats also offers Skybox, an enterprise resource planning tool for ticket sellers. The company operates in the US, Canada, and Japan, with a significant presence in the Las Vegas market through Vegas.com. They also have a fantasy sports mobile application called Vivid Picks.
Peer Comparison (50-75 words): Compared to other online marketplaces, Vivid Seats' direct impact on "Fair Money & Economic Opportunity" is relatively low. While some competitors may offer financing options or partnerships that promote financial inclusion, the core business model of ticket resale typically doesn't directly address financial empowerment for underserved communities.
Materiality Assessment (1-2 clear sentences): The business model of Vivid Seats is fundamentally neutral to the value of "Fair Money & Economic Opportunity," with a low level of materiality. While not inherently exploitative, it doesn't actively promote financial inclusion or wealth building for marginalized populations.
Detailed Rationale (150-200 words): Vivid Seats primarily facilitates ticket transactions. While the accessibility of event tickets can contribute to cultural experiences, it doesn't directly address financial inclusion or economic opportunity. The company doesn't offer financial services like loans or insurance, nor does it directly manage or move money in a way that significantly impacts underserved communities. While the pricing of tickets on the platform could be considered in terms of affordability, this is more related to general consumer fairness rather than targeted financial empowerment. The Skybox tool assists ticket sellers, but its impact on broader economic opportunity is indirect. The Resale segment involves buying and selling tickets, which could potentially lead to price gouging, but this is more of a general ethical concern than a direct violation of financial inclusion principles. The fantasy sports app, Vivid Picks, is entertainment and does not relate to financial services.
Value Interaction Notes (if applicable, 25-50 words): Pricing practices on the platform could potentially intersect with "Honest & Fair Business," particularly regarding transparency and potential price gouging during high-demand events.
Scoring Boundary Flags (if applicable, 25-50 words): Scores above 3 or below -3 would be illogical. The company's core business model neither actively promotes nor fundamentally undermines financial inclusion. A score of zero is most likely.
Fair Pay & Worker Respect
0
No evidence available to assess Vivid Seats Inc. on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
0
No evidence available to assess Vivid Seats Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
0
No evidence available to assess Vivid Seats Inc. on Honest & Fair Business.
Kind to Animals
0
Vivid Seats Inc. operates as an online ticket marketplace, which is a service-oriented business.
1
The company does not produce physical products, engage in animal testing, source animal-derived ingredients, or operate animal agriculture facilities. Therefore, all KPIs related to animal welfare, such as cruelty-free certification, alternative testing methods, humane operations, wildlife conservation impact, ethical input substitution, supplier audits for welfare, cage-free sourcing, animal testing policies and volume, innovation in animal-free technologies, animal agriculture ethics, animal-free R&D collaboration, and public policy engagement on animal welfare, are not applicable to its business model.
2
No War, No Weapons
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Vivid Seats Inc. operates an online ticket marketplace.
1
The provided articles, including ESG reports, do not contain any information or metrics related to arms sales, defense contracts, dual-use technologies, sales to embargoed regimes, peacebuilding investments, conflict divestment, or any other activities relevant to the 'No War, No Weapons' ethical value.
2
The company's core business model does not involve products, services, or operations that would typically fall under the scope of these KPIs. Therefore, all applicable KPIs are scored as N/A (0) due to a lack of relevant activity or exposure.
Planet-Friendly Business
0
No evidence available to assess Vivid Seats Inc. on Planet-Friendly Business.
Respect for Cultures & Communities
0
No evidence available to assess Vivid Seats Inc. on Respect for Cultures & Communities.
Safe & Smart Tech
-30
Vivid Seats holds numerous privacy and security certifications, including PCI, HIPAA, SOC 2, GDPR, ISO 27001, FedRamp, CSA Star Level 1, and is certified for adherence to the EU-U.S. Data Privacy Framework, UK Extension, and Swiss-U.S. Data Privacy Framework.
1
The company uses SSL encryption for sensitive data like credit card numbers and has policies governing encryption standards.
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However, the Vivid Seats app was found to have 19 critical vulnerabilities, and retesting showed the same issues, indicating inadequate vulnerability management and security testing coverage.
3
The company's privacy policy offers opt-out options for marketing, cookies, and interest-based advertising, and allows data access, deletion, and correction requests, but these are basic controls.
4
Multi-factor authentication is mentioned as a security policy, but its availability percentage across services is not specified.
5
The company states it retains data only as long as necessary for business purposes, which is a standard practice.
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Vivid Seats acknowledges being subject to various privacy regulations like CCPA and GDPR, but also notes inquiries from attorneys general regarding refund practices during the COVID-19 pandemic and material weaknesses in internal control over financial reporting for three years related to segregation of duties and staffing.
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The company has a comprehensive fraud detection program and states it takes measures to prevent unauthorized data use, with no documented incidents.
8
Annual privacy and cybersecurity training, including spear phishing exercises, is required for employees.
9
Zero Waste & Sustainable Products
-10
Vivid Seats achieved a 54% decrease in single-use waste in 2022.
1