×

Live Nation Reports Its ‘Best Quarter Ever’

Live Nation Entertainment today released financial results for the past quarter and the year to date, and reports Q3 2018 was the “best quarter ever” for all of its divisions: concerts, sponsorship, and ticketing.

According to the announcement, for the quarter ended Sept. 30, revenue was up 11%, operating income was up 16% and AOI was up 16%. For the nine months ended Sept. 30, revenue was up 11%, operating income was up 24% and AOI was up 17%.

In the quarter, its concert businesses drew more than 33 million fans globally, up 12% year-over-year, according to the report. Through October, the company has sold 85 million tickets for concerts in 2018, up 6% year-on-year, and is on track to sell over 90 million tickets this year.

For the year to date, the company has seen an 8% increase in attendance, with 71 million fans attending 24,000 shows across 40 countries, driving revenue up 11%, operating income more than doubling and AOI up 29% for the nine months, according to the report. Its number of shows has also grown 17% through the third quarter.

Across the company’s arenas and amphitheaters, the average ticket pricing is up 14%, driven by front-of-house pricing which is up 25%. Collectively, these increases have grown artist earnings by over $300 million across roughly 6,000 shows, according to the report.

In a statement, Live Nation president/CEO Michael Rapino said: “As we approach the end of 2018, we are confident that our strong performance will deliver another record year of results. All of our businesses — concerts, sponsorship and ticketing — have delivered growth year-to-date through September, and based on their key operating metrics, we expect each to deliver record revenue, operating income, and AOI for the full year(1). As we look forward, we see tremendous opportunities to continue the global expansion of our concerts and ticketing businesses, and for further growth in sponsorship and ticketing from the concerts flywheel.”

 

 

More Music

  • SZA, Justin Timberlake Drop ‘The Other

    SZA and Justin Timberlake Drop First Song From 'Trolls World Tour'

    SZA and Justin Timberlake released “The Other Side,” the first song from the upcoming “Trolls World Tour” soundtrack. Of course, Timberlake’s Grammy-winning 2016 hit “Can’t Stop the Feeling,” from the first “Trolls” film, was one of the most massive hits in a career filled with them, and like that song, this one involves co-writer Max [...]

  • YGRolling Loud SOCAL, Los Angeles, USA

    YG’s 4Hunnid Label Strikes Joint Venture With Epic Records (EXCLUSIVE)

    Compton rapper YG today unveiled a joint venture between his 4Hunnid label and Epic Records. The Sony Music company will exclusively release, distribute and market new music from the rapper’s Los Angeles-based independent label. The first release from the partnership is scheduled to come from Compton female rapper Day Sulan, who was featured on YG’s [...]

  • Chrysalis Records Re-Launches, Signs Laura Marling

    Chrysalis Records Re-Launches, Signs Laura Marling in Partnership With Partisan

    Chrysalis Records — the iconic record company that was home to artists ranging from Jethro Tull and Blondie to Billy Idol and Huey Lewis and the News — is re-launching as a front-line label and releasing new music for the first time in more than two decades. British singer-songwriter Laura Marling is the revived label’s [...]

  • BTS

    Howard Stern, Show Listeners Call Staffer 'Racist' for Linking BTS and Coronavirus

    Remarks about BTS made on “The Howard Stern Show” are being called “racist” by both listeners and the show’s host. During the February 24 episode of the SiriusXM staple, Howard Stern —  a notorious germaphobe — brought up growing concern over the deadly coronavirus with his cast of comedic cohorts. The topic turned to BTS [...]

  • Jeremy Renner

    John Ottman Hosts Jeremy Renner, Michael Keaton, More at 'Aiding Australia' Benefit

    Film editor and composer John Ottman, who won an Oscar for “Bohemian Rhapsody” in 2019, hosted members of the film, television and music communities at the “Aiding Australia” charity dinner and concert held at his West Hollywood home on Sunday evening (Feb. 23). The benefit raised funds to help in the recovery of fire-ravaged Australia, [...]

  • Music Streaming Revenue placeholder

    RIAA Study Shows 2019 Music Revenue Increased 13%, Subscription Income Up 25%

    A study just released by the RIAA shows bad and worse news for sectors of the recorded music business like physical media sales and digital downloads … but better and better news for streaming. And that’s the only news that matters when it comes to revenue for the music industry in the United States. Streaming [...]

More From Our Brands

Access exclusive content