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Saturday, November 5, 2022

Touring Business Booms


  • Highest Quarterly Attendance Ever with Over 44 Million Fans Across 11 Thousand Events
  • 89 Million Fans Attended 31 Thousand Events Year-To-Date
  • Ancillary Per Fan Spending Growth Up 30% through September at U.S. Amphitheaters
  • Ticketmaster Delivers All-Time High Reported Fee-Bearing Gross Transacted Value (GTV) of $7.3 Billion Up 62%
  • 3Q Sponsorship Revenue Up 59% Driven By Festivals and Ticketmaster Platform Integration

Live Nation, parent company of Ticketmaster,  delivered the biggest summer concert season in history and drove a record quarter.  These results demonstrate the ongoing and increasing demand for live events globally, with attendance up at events of all sizes from clubs to stadiums.

Fans around the world continue prioritizing their spend on live events, particularly concerts.  Despite varying economic headwinds including inflation, we have not seen any pullback in demand, as on-sales, on-site spending, advertising and all other operating metrics continue showing strong year-on-year growth.

With this demand, revenue was up over 60% relative to Q3 of 2019, with each division up at least 30%.  Operating Income was up 95% to $506 million, with all divisions up at least 60% and AOI was up 45% to $621 million, with all divisions up at least 25%.

As expected, our performance this quarter was led by our concert business, which held 11 thousand concerts for 44 million fans across nearly 50 countries.  As a result, over $5 billion of revenue and $281 million of AOI was generated for the quarter, up 67% and 44% respectively, relative to Q3 2019.

Shows of all types continue having strong demand, with double-digit attendance growth across all venue types including clubs, theaters, amphitheaters, arenas, stadiums and festivals.  Stadiums had a particularly strong quarter with our fan count more than tripling to nearly nine million fans, driven by the global demand to see top acts across a number of genres and audiences such as Bad Bunny, The Weeknd and Red Hot Chili Peppers.

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