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
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…read more
With its sleek good looks and easy-to-use yet powerful functionality, Envibe is the premium fitness club software for the Australasian leisure, recreation and fitness industry. We are the most…read more
We are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…read more
The P.A. People is a specialist integrator and contractor in sound reinforcement, audio visual systems, performance lighting and production communications. Over its almost 50 year history the company…read more
SeatGeek is a search engine and mobile-focused ticket marketplace that allows fans to buy and sell tickets for live events. As of August 2018, SeatGeek has exited the Australian, New…read more
Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…read more
Fun Wheels Pty Ltd are the premium dealer in Australasia for the Dutch company BERG’s commercial and domestic products. Our flagship product is their revolutionary pedal go-kart – the…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!