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Even with economic worries, Vivid Seats CEO says customers still pay to see sports and hair bands
Strong spending by consumers has been a linchpin keeping the U.S. economy out of a recession, and Vivid Seats CEO Stan Chia doesn't see demand in his industry falling off
NEW YORK (AP) — Strong spending by consumers has been a linchpin keeping the U.S. economy out of a recession, and Vivid Seats CEO Stan Chia doesn’t see demand in his industry falling off.
He says customers are still using Vivid Seats to find tickets to concerts, sporting events and the theater even if interest rates are high and sentiment surveys show shoppers say they’re feeling nervous. Vivid Seats' marketplace allows people to buy and sell their tickets to live events.
Chia told The Associated Press that he believes the explosion of pent-up demand for entertainment outside the house following the pandemic has burned out, and trends have returned more to normal. The conversation has been edited for length and clarity.
Q: It seems like the economy is riding on whether U.S. consumers can keep spending. How do you see the state of the consumer today?