Live Nation reported second-quarter revenue of $7.67 billion, up 9% and ahead of Wall Street estimates of $7.56 billion, as strong concert demand drove growth, particularly internationally.
Concert sales, which account for most of the company’s revenue, rose 8%. Profit climbed to $294.4 million, or $1.05 a share, from $243.4 million, or 41 cents a share, a year earlier—well above analysts’ expectations of 66 cents a share.
The Ticketmaster parent said it recorded its highest-ever second-quarter concert attendance of 49 million fans. International attendance at stadiums, arenas and festivals jumped more than 20%. In the U.S., amphitheater and arena attendance rose by double digits, while stadium attendance fell because of show timing.
“More artists are on the road than ever—and fans keep choosing to be in the room with them, driving the strongest concert ticket sales we’ve ever seen,” Chief Executive Michael Rapino said.
Underlying demand remains solid, with sell-through rates for U.S. large-venue shows through the end of the quarter at or above year-earlier levels. Ticket prices rose only in the low- to mid-single digits across stadiums, arenas and amphitheaters as the company emphasized affordability.