×
You will be redirected back to your article in seconds

Live Nation Posts Solid Second-Quarter Earnings

Live Nation, the world’s largest live-entertainment company, announced its Q2 2017 financial report Wednesday afternoon, and it showed revenue increasing 29% over the same quarter in 2016 to $2.8 billion, with operating income up 53% to $113 million, and adjusted operating income (AOI) rising 22% to $221 million.

Live Nation President/CEO Michael Rapino was predictably upbeat, “2017 is on track to be another year of growth and record results for the company. Our key indicators for our businesses — concert tickets sold for shows this year, contracted sponsorship, and fee-bearing ticketing GTV — are all pacing double digits ahead of last year and as a result we expect each of our businesses to deliver record revenue, operating income and AOI this year.”

The company announced it has already sold 68 million tickets through July, up 22% over the same time last year.

Sponsorship and advertising revenue was at $124.6 million, up 31% over Q2 2017, while Ticketmaster fee-bearing ticketing gross transaction value (GTV) is up 9% for the quarter to $486.4 million.  Year-to-date (six months), ticketing is up 15% overall, with gains of 20% in operating income and 13% in AOI.

Added Rapino, “Our Ticketmaster results are validating our dual strategy of delivering an effective marketplace for fans to buy tickets while providing a great software solution to venues, teams and artists looking to maximize the value of their events. By continuing to do so effectively, I expect us to again deliver high-single-digit growth in ticketing operating income and AOI this year.”

 

 

More Music

  • maggie rogers

    Album Review: Maggie Rogers' 'Heard It in a Past Life'

    Maggie Rogers earned one of those very rare “Saturday Night Live” slots in which a musical guest is booked onto the show well in advance of her major label debut album’s release — two and a half months prior, in this case. And the scrutiny of such an appearance is not always pretty. Rogers’ “SNL” [...]

  • iHeartRadio Alter Ego Review

    Concert Review: Muse, Weezer, the Killers Rock iHeartRadio Alter Ego 2019

    iHeartRadio’s Alter Ego — a multi-band bill that serves to showcase some of the biggest names in alternative rock — is a relatively new creation, but clearly one that’s been embraced by radio listeners in the greater Los Angeles area who filled the Forum on a Saturday night. Twenty-One Pilots, the Revivalists, Rise Against, Bishop [...]

  • BURBANK, CALIFORNIA - JANUARY 18: (EDITORIAL

    Dax Shepard, Bobby Bones, 'Breakfast Club' Among iHeartRadio Podcast Awards Winners

    iHeartRadio launched its first ever Podcast Awards on Friday (January 18) in Los Angeles. Among the winners in 22 categories were “Whine Down with Jana Kramer” (Best Entertainment TV Podcast); “Armchair Expert with Dax Shepard (Breakout Podcast); “Bobbycast” (Music Podcast); and “The Breakfast Club” (Best Multicultural Podcast). The winners were determined by iHeartRadio listeners. Taking the top prize of Podcast [...]

  • Fyre Festival Caterer Receives Thousands in

    Unpaid Fyre Festival Caterer Raises Thousands in Donations on GoFundMe

    As two Fyre Festival documentaries hit the airwaves, a couple who say their credit was ruined due to the Fyre Festival’s lack of payment for their services have raised $54,381 at time of publication on GoFundMe. Elvis and Maryann Rolle wrote on their page that they catered “no less than 1000 meals per day” in [...]

  • DF-10956_R – Gwilym Lee (Brian May) and

    'Bohemian Rhapsody' Producer Confirms Bryan Singer's Reason for Leaving, Says 'No One' Was Attached to Play Mercury

    “Bohemian Rhapsody” producer Graham King provided insight into some of the events surrounding the Golden Globe-winning film Saturday at the Producers Guild Awards Nominees Breakfast, including director Bryan Singer’s departure from the film partway through production. “It’s an unfortunate situation, with like 16, 17 days to go and Bryan Singer just had some issues, his [...]

  • R. Kelly

    R. Kelly Accusers Detail Abuse, Reveal Evidence on 'Dateline'

    The continuing controversy surrounding R. Kelly, including allegations of sexual abuse by a number of women over three decades, was the focus of Friday’s episode of “Dateline.” Speaking to accusers Sparkle, Jerhonda Pace and parents Tim and Jonjelyn Savage, among others, NBC’s Andrea Canning heard more harrowing tales of abduction and sexual misconduct on the part [...]

  • Huey Lewis

    BMG Signs Huey Lewis and the News

    Huey Lewis and the News, the band that soundtracked much of the 1980s, will return with a new album in 2019. The group has signed with BMG, the company announced today (Jan. 18), setting the stage for the tenth studio album and the first time they’re releasing original music in 18 years. Formed by Lewis [...]

More From Our Brands

Access exclusive content