Sales in the first six months of 2021 were at a low level due to the numerous pandemic-related restrictions. Restrictions were partially lifted from the middle of the year and business in Switzerland quickly picked up again. Very good results were achieved across the board in Switzerland until mid-December 2021. However, the rapid spread of the new Omikron variant and the renewed restrictions imposed by the federal government once again had a negative impact on business from mid-December 2021, as the lack of planning certainty deterred many organisers from organising events.
Despite the challenging market environment, countless small and medium-sized events were realised via the self-service ticket sales platform in 2021. However, the majority of larger public events and business events had to be cancelled or postponed again.
Sales in Germany fell significantly compared to 2020 due to the stricter measures against the spread of Covid-19. In 2021, German event organisers were severely restricted by legal hurdles. Switzerland proved to be more liberal in terms of rules and regulations, meaning that many small and medium-sized events and some larger projects in the business sector, as well as trade fairs and congresses, could be realised despite the more difficult circumstances. However, this was not enough to compensate for the decline in sales in Germany. Overall, revenue in 2021 fell by a further 20% compared to the 2020 financial year.
Although average ticket prices rose last year due to the shift in sales from the German market to the generally higher-priced Swiss market, they are still at a significantly lower level than before the pandemic. This is probably primarily due to the cancellation of major events (festivals, etc.), which tend to be higher priced, as well as the newly tapped market for low-cost slot booking tickets.
Thanks to short-time working, the support of the team and other compensations, it was possible to keep costs at a low level so that the outflow of funds could be kept within limits. The loss was massively reduced compared to 2020. Most of the reversals of cancelled events were also completed, thereby reducing legacy burdens and risks.
The new TICKETINO box office system was successfully used at many well-known events, relieving organisers of the burden of processing ticket purchases and allowing them to sell more tickets per event via the TICKETINO platform, which in turn has a positive impact on revenue per customer.
In December 2021, it became apparent that the first quarter of 2022 was likely to be challenging due to the renewed restrictions imposed by the federal government. However, the experience of the first quarter of 2022 also shows that the majority of long-standing TICKETINO customers will resume their business in the current year and that many new customers are also showing interest in the TICKETINO platform and registering events on a daily basis.
TICKETINO's strategy of providing organisers with a self-service platform at fair conditions and supporting them in marketing their events means that the recovery phase after the crisis is likely to be short.
