Music fans continued to spend heavily on live concerts in the first three months of the year.
That’s the main takeaway from concert giant Live Nation’s latest financial results released on Thursday (May 2).
Live Nation’s revenue is US$3.8 billion First quarter (three months to the end of March) year-on-year An increase of 21% compared with the same period last year.
These revenues have been generated Covering all sectors including concerts, ticketing and advertising and sponsorship.
President and Chief Executive Officer, Michael RapinoeLive Nation’s “first-quarter results demonstrate that live events remain a priority for fans around the world,” the company told investors on Thursday.
“Demand from fans around the world is stronger than ever, more artists are taking to the streets and more venues are being added to bring them together.”
Michael Rapinoelive country
He added: “Demand from fans around the world is stronger than ever, more artists are taking to the streets and more venues are being added to bring them together.
“While operating income will be impacted by one-time accruals, we are on track to hit another all-time high with double-digit AOI growth and remain strong in the coming years.”
A deeper look into Live Nation’s balance sheet reveals that the company’s “concert” business generated $2.9 billion In the first quarter, up 26% annual increase (see below).
Live Nation’s Sponsorships and Advertising section has been generated $211.3 million In the first quarter, up An increase of 24% compared with the same period last year.
Live Nation’s first season show sees fan base grow 21% annual increase arrive 23 million.
Attendance growth was primarily driven by Live Nation’s Arena concerts, which saw an increase in attendance 40% annual increase to almost Ten million Fans worldwide.
In North America, Live Nation expects fan attendance at its shows to be 10.9 million In the first season.
Live Nation said it also saw double-digit growth in festival attendance, driven by the Latin American market.
It has sold 86 million concert tickets so far this year, Live Nation reported, noting on Thursday that “despite reduced stadium activity, it is on par with 2023.”
At the same time, the company’s ticketing business, conductor, The revenue generated is $723 million in season 1, up An increase of 7% compared with the same period last year.
According to Live Nation, Ticketmaster sales are approx. 77 million Ticket sales increased during the first season, driven by double-digit growth in international markets.
Live Nation says Ticketmaster’s total fee-based transaction volume reaches nearly $8 billion in first quartergrowth is driven by international markets.
Live Nation’s ticketing company also sold approximately 78 million free tickets in the first quarter, bringing the segment’s total number of tickets sold during the quarter to 155 million.
Live Nation’s adjusted operating income was $367 million in season 1, Which one is up? An increase of 15% compared with the same period last year; and an ooperating loss $37 million (see below).
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