×
You will be redirected back to your article in seconds

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

  • Livenation AR Live stream

    Live Nation to Debut AR Live Stream at Music Midtown Festival

    Come September, Live Nation is set to begin streaming live events in augmented reality. The entertainment giant will debut live AR broadcasting at the Music Midtown festival in Atlanta, Georgia, where attendees will also be able to unlock filters and other AR effects. Live Nation announced the new initiative at the Cannes Lions festival Thursday, [...]

  • Elton John performing at Earls Court,

    Elton John Has a Message for Struggling LGBTQ Youth: 'Be Proud of Who You Are'

    Elton John isn’t at a loss for words when asked if he has a message for young LGBTQ people who are struggling with their sexuality or gender identity. In an exclusive interview with Variety at last month’s Cannes Film Festival, just hours before the world premiere of his long-in-the-works biopic “Rocketman,” John spoke candidly about the [...]

  • Frank Ocean

    What Happened to the Black Queer Music Revolution That Frank Ocean Almost Started?

    Seven years ago, Frank Ocean got us talking about a revolution — or at least hoping for one. On the eve of releasing “Channel Orange,” his groundbreaking 2012 debut studio album, the then-24-year-old alt-R&B singer-songwriter wrote an open letter on his Tumblr blog in which he revealed that his first love had been a man. [...]

  • Donald Glover Beyonce

    Beyoncé and Donald Glover Harmonize in 'Can You Feel the Love Tonight' Ad Preview

    Anyone who’s longed to hear Beyoncé and Donald Glover harmonizing got just enough to further whet the appetite in a first snippet of their version of “Can You Feel the Love Tonight?” that’s included in a new commercial for Disney’s upcoming “Lion King” remake. The TV spot lasts just 30 seconds, hardly time at all [...]

  • Pride Allies

    The Hollywood Allies Who Helped Protect, Advance the LGBTQ Community This Year

    Strong and proud as it is, the LGBTQ community’s fight for equality needs allies — from loving and accepting families to galvanized colleagues and corporations to the movie star you’ve never met calling for boycotts of a homophobic nation-state. Several of those queer supporters in Hollywood and music used the megaphones of social media, public [...]

  • Amazon Music

    Amazon Music Launches on Comcast's Xfinity X1 Set-Tops

    Amazon Music is rolling out on Comcast’s Xfinity X1 — the first pay-TV distribution deal for the ecommerce company’s music service. The cable operator’s addition of Amazon Music comes six months after it added Amazon Prime Video to the X1 lineup. Prime Video quickly became one of the most-used apps on the service, which prompted [...]

More From Our Brands

Access exclusive content