Live Nation’s concerts played to more than 25 million ticket-buyers over some 9,000 shows worldwide, the company’s Q2 2018 earnings report revealed on July 26.
Among the highlights touted by Live Nation chief Michael Rapino during a conference call with investors: double-digit growth in profit sectors of sponsorship and advertising (up 12% to $80.5 million and involving such brands as American Eagle and General Mills) and ticketing (up 13% to just over $49 million). Operating income was up 11% in the period ending June 30.
Live Nation’s bread and butter remains overwhelmingly concerts, which made up $2.38 billion of overall revenue of $2.87 billion, a 5% bump for the quarter. Through the first half of the year, revenue is up 9% to $4.35 billion.
How many tickets is that? Roughly 70 million so far this year, 3 million more than this time in 2017, putting the company on pace to hit over 90 million ticket-buying fans in 2018.
The company projects that it will have promoted 20 of the Top 25 tours of the year.
On the Ticketmaster side of the business, mobile fee-bearing ticket sales were up 34% and now account for 40% of all fee-bearing ticket sales. Mobile conversion overall also saw double digits gains. Of its share of the market, Ticketmaster-listed events were up 16% this year to nearly 280,000 events through June.
Live Nation stock was down 1.55% at end of trading Thursday to $51.60 a share.