RunSignup releases Q2 2024 market update

RunSignup, the leading registration and technology provider for endurance events in the United States, is pleased to announce significant growth and advancements in the second quarter of 2024. The endurance community continues to demonstrate positive growth, while RunSignup continues to grow its market share in the traditional registration endurance space, and is growing quickly in P2P events with GiveSignup and with other events with TicketSignup. The company’s commitment to technology innovation and customer satisfaction has yielded impressive results across all its business segments (endurance, fundraising, and ticketing).

“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. 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,” said Bob Bickel, Founder and CEO of RunSignup.

Highlights of Q2 2024

• Endurance Events Growth: Participation in U.S. endurance events increased by an average of 7% compared to 2023, reflecting a positive trend for the entire endurance community.
• Transaction Volume: RunSignup’s transaction volume increased by 22%, surpassing the company’s planned growth of 13%, driven largely by the unexpected 7% increase in participation rates.
• Market Share Expansion: RunSignup’s endurance events business continues to grow its market share, with expectations to reach nearly 50% in the U.S. within the next year.
• GiveSignup Peer-to-Peer (P2P) Event Growth: The company’s P2P event business experienced substantial 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 nearing critical mass. RunSignup predicts TicketSignup will comprise 8% of its total transaction volume in 2024, with significant growth anticipated in the 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 Quarterly Numbers

The second quarter showed significant growth across all business segments:

• RunSignup Registrations: Increased by 16%
• Donations: Grew by 14%
• Tickets: Expanded by 77%

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%.

RunSignup Endurance Business

RunSignup continues to benefit from the growth in endurance events and a steadily expanding customer base. The company attributes this market adoption to its comprehensive platform, competitive pricing, and excellent customer support.

Key feature improvements in Q2 included:

• Website V2 for Races: Enhanced custom website building capabilities for race organizers.
• Fee Transparency: Implemented in NY, CA, and MD, with more states to follow.
• Real-Time Capabilities for Race Results: Offering advanced race day features through our RaceJoy app and other real-time tools. These capabilities enable timers to offer real-time course map displays, instant results via app, text, email, and web results, data feeds for course displays, and a mix of chip-based split results and GPS results. This means a 500-person 10K can have the same features as the largest marathon.

GiveSignup P2P Business

The company’s P2P event platform made significant strides, onboarding major customers and introducing new technology features such as:

• Websites V2 for P2P Events
• Fundraiser Incentives
• Donation at Checkout
• Multi-Event Donation Thermometer

TicketSignup Business

TicketSignup experienced rapid expansion, driven by a product-led approach and customer recommendations. Its innovative MultiDay Timed Entry (MTE) capability is set to revolutionize multi day event management, and will bring a new era of complete calendar-based management for multi day events, coupled with an excellent user experience for signing up, as well as transferring days and times.

RunSignup University

The company also held its inaugural RunSignup University event in Philadelphia, hosting 115 customers, which was the maximum capacity. RunSignup is shifting towards an education-focused approach, providing hands-on training and resources to empower its customers.

RunSignup’s full Q2 2024 report can be found here: https://info.runsignup.com/2024/07/05/runsignup-q2-2024-update/