StubHub advertising spend, FY2025
StubHub (STUB) reported $892M of advertising expense for the fiscal year ended Dec 31, 2025. That is 51.1% of revenue of $1.7B. Up 13.4% from FY2024.
Key facts
- Ad spend is 1.9x its FY2023 level ($470M), faster than revenue (1.3x).
- FY2025 is the highest year on file, going back to FY2023.
- Ad spend has risen 2 years in a row.
- StubHub spends more on advertising than 78% of the 336 US-listed companies tracked. Its ad-to-revenue ratio is 9.8x the median of 5.2%.
Ad spend by fiscal year
Ad spend as % of revenue
History
Download CSV| Fiscal year | Period end | Ad spend | YoY | Revenue | Ad / revenue | Tag | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | $892M | +13.4% | $1.7B | 51.1% | AdvertisingExpense | 10-K Mar 5, 2026 |
| FY2024 | Dec 31, 2024 | $787M | +67.5% | $1.8B | 44.5% | AdvertisingExpense | 10-K Mar 5, 2026 |
| FY2023 | Dec 31, 2023 | $470M | n/a | $1.4B | 34.4% | AdvertisingExpense | 10-K Mar 5, 2026 |
What the figure is
Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).
Ad spend is 51.1% of revenue. A ratio of 50 to 100% is typical for lead-gen and marketplace businesses that buy traffic.
Compared with similar spenders
The 6 companies closest to StubHub in latest-year ad spend.
| Rank | Company | Ad spend | Ad / revenue | YoY | Fiscal year |
|---|---|---|---|---|---|
| 74 | Hims & Hers Health | $919M | 39.2% | +35.4% | FY2025 |
| 75 | Fox Corp | $895M | 5.2% | +29.0% | FY2026 |
| 76 | StubHub | $892M | 51.1% | +13.4% | FY2025 |
| 77 | General Mills | $874M | 4.7% | +3.1% | FY2026 |
| 78 | Starbucks | $870M | 2.3% | +45.6% | FY2025 |
| 79 | Constellation Brands | $867M | 8.9% | -6.9% | FY2026 |
| 80 | PayPal | $867M | 2.6% | +51.0% | FY2025 |
Full ranking of 336 companies · Biggest increases #106 · Highest ad-to-revenue #5
Questions
How much does StubHub spend on advertising?
StubHub spent $892M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 10-K filed Mar 5, 2026.
What percentage of revenue does StubHub spend on advertising?
51.1% of revenue in fiscal 2025 ($892M of $1.7B). The median across the 336 companies tracked is 5.2%.
Is StubHub spending more on advertising?
Yes. Ad spend rose 13.4% in fiscal 2025 from fiscal 2024. It has risen 2 years in a row.
How does StubHub rank by advertising spend?
#76 of 336 US-listed companies with $100M or more in ad spend, ranked on each company's latest fiscal year.
What does StubHub's advertising figure include?
Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).
Source
- Filing
- 10-K for FY2025, filed Mar 5, 2026
- Accession number
0001628280-26-014844- Company
- StubHub Holdings, Inc., CIK 1337634, SIC 7990 (Services-Miscellaneous Amusement & Recreation)
- Data
- SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
- Cite
- StubHub advertising spend, FY2023-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 10-K filed Mar 5, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/stubhub-holdings/advertising-spend/
- Download
- CSV, all years · CSV, all 336 companies