In honor of the Rio Carnival, Universe is heading south! We are excited to introduce our latest currency, the Brazilian Real. Event organizers in Brazil now have the ability to transact, process payments, and withdraw funds in their native currency.
Brazil marks the first South American country to be serviced by Universe. In recent years, it has hosted some of the world’s top events including, the 2014 FIFA World Cup and the 2016 Summer Olympics. Brazil is also home to the revelled Rio Carnival, Reveillon, and the Festa do Peao, attracting millions of attendees from near and far to immerse themselves in the Brazilian party atmosphere.
The country’s robust beauty, breathtaking views, and unique culture are second to none. In particular, Brazil has a culture expressed through cherished traditions and lively gatherings. It boasts a growing events market, especially in music and sports, where Samba music and football are deeply rooted in the country’s history. For example, event tickets sales alone will gross approximately USD $224 million in 2017 and is steadily increasing at a 31.9% CAGR.
The lack of ticketing options in Brazil also presents new opportunities for Universe, including helping on-the-go organizers heighten the purchasing experience and further increase ticket sales. By working with our payment partners, Stripe and Hyperwallet, event organizers are able to leverage our platform in emerging local markets, thereby changing the competitive landscape of the events industry.
This rings true, especially in Brazil, where events and festivities are renowned worldwide. 2016’s Carnival injected approximately USD $740 million into the local economy and was made up of hundreds of blocos (street parties), parades, and nightlife events. As such, we’re here to make the experience of organizing these gatherings effortless, be it a Bossa Nova concert or a Samba class.
Most importantly, Brazilian users are able to streamline event management by transacting and processing payments in their native currency. Ultimately, this will open the doors for surrounding countries, where experiential events can be found from coast to coast in South America.