RunSignup, a leading endurance event registration provider in the United States, has reported ‘significant growth and advancements in the second quarter of 2024.’
Aggregating data for events using its platform (representing an estimated 40-45% of the US endurance event market), RunSignup reports that it continues to grow its market share in the traditional registration endurance space. The company also reports that it is growing quickly in P2P (peer-to-peer) events with GiveSignup and other events with TicketSignup.
“Our big strategic advantage that enables us to do so much across multiple businesses is our single technology platform strategy being leveraged across RunSignup, GiveSignup and TicketSignup,” said Bob Bickel, Founder and CEO of RunSignup.
“When we make an improvement to any of the infrastructure or core services, all products benefit. This allows for continuous, efficient development across all product lines, benefiting a broad customer base. It also supports our mission to deliver superior technology at low costs.”
Q2 2024 highlights cited by RunSignup include:
- Endurance events growth: Participation in US endurance events reportedly increased by an average of 7% compared to the 2023 period, reflecting a positive trend for the endurance community.
- Transaction volume: RunSignup’s transaction volume increased by 22%, surpassing the company’s planned growth of 13%, driven largely by an unexpected 7% increase in participation rates.
- Market share expansion: RunSignup’s endurance events business reports continued grow in its market share, with expectations to reach nearly 50% in the US within the next year.
- GiveSignup peer-to-peer (P2P) event growth: The company’s P2P event business experienced strong growth, with new customers including the Travis Manion Foundation, El Tour de Tucson, Pedal the Cause, Ben the Shore, and Els for Autism.
- TicketSignup expansion: The company’s ticketed events business grew by 77% in Q2 and is reportedly nearing critical mass. RunSignup predicts TicketSignup will comprise 8% of its total transaction volume in 2024, with significant growth anticipated in the autumn/fall season.
- Technology advancements: The company issued 570 new releases to its technology platform in Q2, continuing to expand and enhance the user experience and operational efficiency.
RunSignup’s quarterly numbers saw the company report strong growth across all its business segments:
- RunSignup registrations: +16%
- Donations: + 14%
- Tickets: + 77%
In a release, the company added… ‘Participation in races showed real growth for the first time in years, with a 7% average increase in participants and a 12% increase in registration transaction revenue. This growth signifies a healthy expansion in the endurance community. Average race prices have also seen a modest increase of 4-5%.’
