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Live Nation registers record revenues through 2017
Global entertainment giant Live Nation has reported another record year in 2017, with revenue up 24% to US$10.3 billion.
According to financial results for the quarter and full year that ended on 31st December, attendance at the live entertainment company’s concerts was up 21% to 86 million, with sponsorship and advertising revenue was up 18% and its Ticketmaster arm also showing strong growth.
According to the report, Live Nation added 15 million fans globally for a total of almost 86 million fans, with concerts revenue rising 26%. The company invested US$5.6 billion to promote 30,000 shows in 40 countries.
The report showed Live Nation’s fourth-quarter loss of US$202 million from its US$110 million settlement with Songkick, although it did not initially mention the name of the company, whose assets it acquired as part of the settlement announced in January. Songkick accused Live Nation of interfering with its business and hacking into its computer systems.
Live Nation ticket prices increased by 5% in 2017, amounting to over US$250 million additional revenue, with average per-fan spending growing as well.
The report also highlighted that Live Nation’s arena, amphitheatre and stadium shows through to 19th February 2018 are up 7% compared to this time last year.
Commenting on the results, Live Nation Chief Executive Michael Rapino advised “overall, we expect a very strong year across our amphitheatres, arenas and festivals, with some decline in stadium show count on a year-over-year basis.
“Given our plans to further monetise our fan relationships, I expect this will translate into continued strong growth in concerts operating results in 2018.
“In 2018, I expect us to further consolidate our global concerts position while enhancing our on-site hospitality business and capturing additional pricing opportunities.
“We believe that our sponsorship business will continue driving double-digit growth as more brands look for that direct connection with music fans. And a more effective Ticketmaster marketplace, along with further alignment with artists, should continue to build on Ticketmaster’s success.”
26th January 2018 - RECORD BREAKING YEAR FOR GLOBAL CONCERT BUSINESS
9th March 2017 - TICKETMASTER DEFENDS RESALE WEBSITE
28th February 2017 - TICKETMASTER AUSTRALIA RENEWS RIVERSTAGE PARTNERSHIP
24th February 2017 - TICKETMASTER’S MARIA O’CONNOR NAMED FEMALE CHIEF EXECUTIVE OF THE YEAR
20th January 2017 - AUSTRALASIAN VENUES STRONG PERFORMERS IN POLLSTAR 2016 TICKET SALES CHART
22nd November 2016 - TICKETEK AND TICKETMASTER RESPOND TO MASSIVE DEMAND FOR ADELE TOUR TICKETS
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