• Rebound Of Live Events Drives Revenue Growth At Live Nation Entertainment For Second Quarter

    by Perry Michael Simon
    August 4, 2022 at 1:23 PM (PT)
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    Record Numbers

    The rebound in live events drove a 40% year-over-year increase in revenue for second quarter 2022 to $4.4 billion at LIVE NATION ENTERTAINMENT, with operating Income up 86% to $319 Million. The company reported record quarterly attendance of over 33 million fans at 12,500 events, led by international growth, while 1000 million tickets have been sold for 2022 concerts, more than were sold for all of pre-pandemic 2019, and concert bookings are up over 30% for all venue types as compared to second quarter 2019. TICKETMASTER also turned in a record quarter with adjusted operating income up 86%, and sponsorship adjusted operating income also rose 81%.

    Pres./CEO MICHAEL RAPINO wrote in the company's press release that "(m)omentum across our business has remained strong in recent months and weeks, and demand combined with a substantial concert pipeline gives us confidence in our ongoing growth this year and into 2023." He noted that the average price of a concert ticket has risen 10% from 2019 but the average entry price of $33 was only 5% above 2019. He added that fans are spending over 20% more on-site and the average revenue per fan at amphitheaters rose 30% from 2019 to  $38.50.

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