×
You will be redirected back to your article in seconds

Live Nation Reports a Record 2017 in Year-End Results

Live Nation had another record year in 2017, according to financial results for the quarter and full year that ended on December 31.

In a quick takeaway, revenue was up 24% to $10.3 billion; attendance at the company’s concerts was up 21% to 86 million; and sponsorship and advertising revenue was up 18%. The company’s Ticketmaster unit showed strong growth as well, with its fee-bearing gross transaction value (GTV) up 15%.

Breaking that down, according to the report the company added 15 million fans globally for a total of almost 86 million fans, with concerts revenue rising 26%. The company invested $5.6 billion to promote 30,000 shows in 40 countries.

On the earnings call, the company acknowledged a $202 million fourth-quarter loss from its $110 million settlement with Songkick, although it did not initially mention the name of that 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.

Average ticket prices for Live Nation shows increased by 5% in 2017, amounting to over $250 million additional revenue, with average per-fan spending growing as well: At the company’s amphitheaters, consumer spending grew by 9% to over $24 per head.

Looking ahead into 2018, confirmed arena, amphitheater and stadium shows through February 19 are up 7% compared to this time last year, according to the report. “Overall, we expect a very strong year across our amphitheaters, arenas and festivals, with some decline in stadium show count on a year-over-year basis,” CEO Michael Rapino (pictured) wrote. “Given our plans to further monetize our fan relationships, I expect this will translate into continued strong growth in concerts operating results in 2018.”

The company’s sponsorship division grew our revenue by 18% in 2017, with 50-plus sponsors spending over $1 million per year for a total of $285 million, up 19% from last year.  Sponsorship revenue at the company’s festivals grew 20%, aided by new deals with American Express, American Eagle, Samsung and Amazon Web Services.

Ticketmaster grew as well in 2017, with fee-bearing gross transaction value (GTV) up 15% and total platform GTV of $30 billion, delivering 500 million tickets to fans in 29 countries and a 17% increase in ticketing revenue; the fourth quarter of 2017 was the best in the company’s history, with over 50 million fee-bearing tickets sold, delivering over $4.5 billion in GTV. Music has accounted for about 80% of Ticketmaster’s GTV growth in recent years, Rapino said.

“In 2018, I expect us to further consolidate our global concerts position while enhancing our on-site hospitality business and capturing additional pricing opportunities,” Rapino concluded in the report. “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.”

More Music

  • Brandi Carlile,Maren Morris. Brandi Carlile and

    ACM Awards Add Brandi Carlile, Kelly Clarkson, Dan + Shay to Performance Lineup

    Brooks & Dunn had a hit once called “Put a Girl In It,” and that’s just what the Academy of Country Music Awards have done, adding Kelly Clarkson, Brandi Carlile and Ashley McBryde to the lineup of performers for the April 7 telecast on CBS. While they’re at it, they also added Brooks & Dunn, [...]

  • Phil Anselmo New Zealand Concerts Canceled

    Phil Anselmo Concerts in New Zealand Canceled Over ‘White Power’ Remarks

    In the wake of the terrorists attacks on mosques in New Zealand last week, concerts in the country by former Pantera singer Philip Anselmo and his band the Illegals were cancelled due to statements he made in the past about “white power,” according to the New Zealand Herald. Anselmo was filmed giving a Nazi salute [...]

  • New Found Glory

    New Found Glory Reimagines 'This Is Me' for the Warped Tour Crowd (EXCLUSIVE)

    Remember the plot of “Be Kind, Rewind”? Mos Def plays a video store clerk who, after its inventory of videocassettes is erased, sets out with Jack Black to reshoot movies such as “Ghostbusters” and “Rush Hour 2” in the streets of Passaic, N.J. That idea — minus the wacky Fats Waller subplot — resonated with [...]

  • David Furnish, Bryce Dallas Howard, Taron

    'Rocketman': Paramount Previews Footage of Elton John Biopic

    “Rocketman” is ready for lift off. Paramount Pictures threw a cocktail party Monday night to preview 15 minutes of the upcoming Elton John biopic, set for release on May 31, at the Troubadour in Los Angeles, the legendary rock club where John made his U.S. debut nearly 50 years ago. The footage featured pieces of [...]

  • Songtrust’s Joe Conyers III Slams Streaming

    Songtrust’s New Chief Strategy Officer, Joe Conyers III, Slams Streaming Services’ CRB Appeal

    Songtrust, the digital rights-management platform cofounded by Downtown Music Publishing’s Justin Kalifowitz, today announced that Joe Conyers III has been elevated to Chief Strategy Officer. According to the announcement, as co-founder and GM of Songtrust for the past eight years, Conyers has led the company from prototype to servicing over 20,000 publishers to collect their [...]

  • J BalvinJ. Balvin in concert at

    J. Balvin, Ozuna, Deadmau5 Among New Artists Launching 2019 Vegas Residencies

    The list of artists heading to Vegas this year is getting a little longer. Reggaeton stars J. Balvin and Ozuna and DJ heavyweights Armin van Buuren, Deadmau5 and Eric Prydz are among the new artists who have announced residencies this spring at the Palms Casino Resort. The performers join previously announced residencies by Cardi B, [...]

  • mark Beaven

    If Spotify Is Holding Town Halls for Songwriters, They Must Be Open (Guest Column)

    Earlier this month, Amazon, Google, SiriusXM and Spotify challenged the Copyright Royalty Board’s decision to increase the compulsory mechanical rates paid to songwriters by 44% over the next five years. The streamers have come under fierce criticism for the move, which they claim is over the complexities of the CRB’s rules but is widely assumed [...]

More From Our Brands

Access exclusive content