 It's been a pretty rough year, past 12, 15-ish months. And it's nice though, because now we're finally getting back into tickets. And with tickets coming back, it means time to sell those tickets. And to sell those tickets, it means getting paid. But getting paid isn't so easy as it used to be, unfortunately. So I think today we're going to talk all about money. How exactly are you getting paid from selling your tickets on all of those resale websites? What's up, guys? Welcome back. My name is Shiraz. Here on Thumbs Up Front, where we talk about buying tickets. Selling tickets to make sure that you have all the fun with your tickets. Today we're talking all about payment terms and how you actually go ahead and get paid when you're selling your tickets on resale websites. We're going to break it up into two different segments, pre-March 2020 and post-March 2020. We're going to dive into what the differences are between these two time periods, because that's going to help us break it down to understand what exactly we were talking about when I mentioned pay on delivery versus pay after event. Once you have an understanding of those two concepts, then we're going to jump in over to the different exchanges. What are their current payment terms and how fast are you actually getting paid? Which ones are paying you the fastest? Which are paying the slowest? And then lastly, we're going to talk about how you can actually go ahead and try and move yourself from the pay after event to the pay on delivery. Lots of things to talk about, so let's jump into it right now. Let's jump back just a little. Let's go back to pre-March 2020. So basically, any time you can think of in the past, before March. So what would actually happen when you try and sell some tickets online with the StubHub C-Key, Vivid Seats, all the big players, all the small players, all the big players out there, what would actually happen is you would go ahead and list your tickets and once you actually got those tickets listed, they ended up getting sold and the responsibility would be up to you, the seller, to go ahead and actually fulfill that order. This is a great example of payment on delivery. Like the name actually suggests and states, you're being paid as you deliver those tickets. This was a very, very common feature of being able to sell tickets in the past prior to March 2020. When you think back to that timeframe, what was actually happening is events, they were not at risk of not taking place. Yes, there were times where events would get postponed, times events would get canceled. However, it was not as complicated. If an event was postponed and you had already sold the tickets, it didn't really matter as much because the tickets would still be valid for the new event date. It was not a big deal because you knew that the event would eventually take place. If the event was canceled, you still didn't have that much of a problem because even if you had delivered those tickets already, you would actually just basically know that sale. If you'd already been paid for it, you'd go ahead and pay back the brokerage and then you would then get your money back from Ticketmaster or wherever you bought your tickets from. So it all kind of flowed out pretty evenly pretty well. This ticket buyer who bought those tickets from you, they would actually go ahead and actually get a refund for those tickets. Sometimes they would get an option to get credit versus refund, but normally it would just be a refund on the payment method that they used. All very simple, all very straightforward. Payment after event was not really a thing that existed at this time because again, events when they were announced, when they took place, it was all kind of expected to actually happen with the dates and times and terms that existed at that point. Now, with that being said, let's jump forward now, post-March 2020. This is a very dark ages kind of time. Basically, tickets, they stopped. Events, stopped everything. Basically, time just stood still. No one could do anything. You were stuck inside. You couldn't move anywhere. You couldn't look anywhere. You couldn't do anything. It wasn't fun. Any events that were taking place, they were without fans. Pumping crowd noise just to make it look and feel of what events actually used to be, but you knew the difference. They knew the difference. Everybody knew that it just wasn't quite right. It wasn't quite the same. And so now as we're kind of moving a bit further along, we're getting to the point where, you know, events are taking place, but not only that, but events are taking place with fans in seats. And with tickets being sold again, fans going back into seats, resale marketplaces have started to pick up steam yet again. The sellers of these tickets are not getting paid at the same rate of which they were prior to March 2020. Things that move towards a pay after event payment method. The seller is not going to get paid until the event actually takes place. The exchange, they'll hold onto the money from the buyer up until the last possible moment. And once the event finally happens, that's when they'll go ahead and release the funds to the seller. They'll get paid. Everyone will then be made whole. Reason behind this, again, there is a greater risk that events may or may not take place now. It used to be just in the past that you'd have your postponed and canceled events, and they would be one-offs almost. It would be very rare for an event to actually get postponed or canceled. Usually it would be more towards, you know, scheduling conflict, someone's getting sick, snowstorms, things like that. Some rare occurrences, but it was not a very common theme. Now, post-March 2020, events there is, while there are dates set, there is no guarantee that those events were actually going to happen and actually go ahead as planned, whether it was with the full capacity, limited capacity, just because of other changes that happened. So it became more of a risk for these events to actually go on. For a ticket buyer's perspective, it doesn't only change too much, because you're still going ahead buying those tickets, paying a front, waiting for those tickets to get delivered, and then you go to your event. From your perspective, nothing has really changed, just from events that are taking place. From the seller's perspective, though, it is a lot more difficult to actually go ahead and get that cash money. Also, with the canceled and postponed events, post-March 2020, there have been a few changes as well. For postponed events, that not so much, but canceled events from the buyer's perspective, you're probably just going to be getting a credit. You may have to go ahead and fight for your refund and cash, but it can be done. It can be done, but it does take a bit more legwork, a bit more of a requirement, but otherwise, you're just going to be getting a credit. From the seller's perspective, if the event gets canceled and they haven't been paid it, it's not as big a deal. They haven't been paid yet from the exchange, so the exchange does not owe cash to them, so the seller themselves, they don't need to then repay that money. They will just simply go ahead, get their refund from the original ticket purchase place, whether that's Ticketmaster or wherever, and they'll be made whole that away. This way, we don't have that major cash crunch that happened in March 2020, where exchanges were all trying to collect cash back for all these sales that happened already for events that are no longer taking place. And then from the buyer's perspective, they're now struggling to make sure that they can get their cash back for events that have been canceled. So all this talk about money going in this person's hand, that person's hand, what happens if I'm a seller and I want to get paid? What do I do? Well, if you go ahead and take a look at the different exchanges, there are a few minor differences, I would say, between the different exchanges on where you go ahead and sell your tickets, how long it'll take you to get paid. But really, it's all the same. So let's just do a quick run down here. So Stubhub, they're paying five to eight days after the event takes place. Next up, very similarly, David Seats, they're paying seven days after the event takes place. Same idea. Once that seventh day is hit, you should be getting paid around that time frame. SeatGeek, now they're a little bit different. They're up to five days after the event takes place to go ahead and get paid. Ticketmaster, very similar as well. Seven days after the event takes place, you'll go ahead and get those funds. TickPick, on the other hand, they're up to 14 days, so it can be a bit faster. It can be a bit slower. It really just depends. But basically one to two weeks after the event takes place, go ahead and get those funds. And then the last one I want to mention, not a huge player, but they exist, and I do use them on occasion. Game Time. So Game Time, they will actually pay you up to 48 hours after the event takes place. With all that being said, there is obviously some discrepancy, almost a two week difference between the fastest and the slowest. But at the end of the day, it's all pay after the event takes place. So it doesn't really make that much of a difference. Unfortunately, it's just the way it is currently. You want it to get paid as fast as humanly possible. You could go ahead, go to Game Time, pay your tickets that way. But Game Time doesn't necessarily have as big of a marketplace presence as someone like a stub hub or taking Master of Vivid Seats, etc. So you may get paid faster once the tickets actually sell, but if no one actually buys those tickets on Game Time, you're not going to get paid after any amount of time after the event takes place. Not the best. So don't expect to go ahead, buy some tickets to a hot event, sell them the next day, and then expect to get paid right after. You're going to be waiting potentially almost a year or even two years if that event, you know, gets postponed, gets postponed again, gets postponed again. It could potentially be a very long time before you actually see that cash. So do make sure you pay attention. Be very careful if you are selling some tickets. Understand that you will not be getting any cash until the event actually happens. In the future, I do see this changing, eventually moving back towards that pay on delivery method because it is moving towards that way on the broker side. So what do I mean by that? Well, if you are a professional ticket seller or a ticket broker, you do get access to different benefits and different payment options. For example, vivid seats. You may actually end up being eligible for payment terms that allow you to get paid seven days after delivery. Same thing applies with TickPick, SeatGeek, StubHub, Ticketmaster, GameTime. All of them, they all have their own special terms for ticket brokers who are selling on their platform. If you have that developed relationship, you may be able to qualify for faster payment terms. Again, a regular person is just selling one or two tickets here and there, or they just want to sell some of their season tickets off. They won't necessarily qualify for these different payment terms because they're not necessarily doing this as a business. With that being said, though, I do expect these payment terms to eventually make their way into the standard consumer marketplace as we kind of move forward and get towards a point where we start seeing that events that are being planned are actually happening when they're supposed to happen, as well as cash will start to improve for all these different brokerages and different companies. Things will also start to improve for the people who are selling those tickets as, you know, a one-off, as a regular consumer, essentially. With that being said, let me know what you guys think about these different payment terms that have happened post March 2020. Are you a fan of this pay-after-event deal right now? Are there any issues that you kind of see coming up in the future? I want to know what your thoughts are, so let me know down in the comments below. With that being said, hope you guys enjoyed this video. If you did, definitely let me know by hitting the like button down below. Also, be sure to subscribe here on already great new content coming out every single week. And see you guys next time.