Revenue / 08.02.23

Live Nation Reports $5.6B in Q2 Revenue as International Markets Boom

Access Staff

Pollstar (07/27/23) Lind, J.R.

Live Nation Entertainment disclosed $5.6 billion in revenue for the second quarter of 2023, representing the company's best number behind third-quarter 2022 earnings of nearly $6.2 billion. “Live music is bigger than ever, with global demand driving the industry to record levels,” declared CEO Michael Rapino. “There's a more diverse pipeline of artists breaking from all corners of the world, and at the same time tours are going to more markets — particularly in Latin America and Asia. This was our strongest second quarter ever, with 2023 on pace to be a record year, and early indicators for 2024 giving us confidence in continued growth.” Live Nation's reported operating income totaled $386.4 million, a 20% year-over-year gain. Concert revenue reached nearly $4.6 billion, a 29% increase over last year marked by double-digit growth in stadiums, arenas and festivals mainly fueled by international markets. Major growth was seen in European and Asian stadiums as well as in Canadian, Latin American and Asia-Pacific arenas. Live Nation is also seeing a 25% uptick in attendance, with a 46% jump in overseas attendance the primary driver. Ticketing revenues have climbed 23% to $709 million with $8.7 billion in fee-bearing gross transaction value (GTV), up 25% from last year; the company credited non-North American markets for 80% of GTV growth.

Read the full story from Pollstar.

Tags: Revenue , Live Nation