×
You will be redirected back to your article in seconds

Live Nation Posts Strong First Quarter, Revenue Up 17% 

In first-quarter 2019 earnings released today, Live Nation Entertainment’s revenue was up 17% to $1.7 billion, with an operating loss of $24 million and what the company says it is highest first-quarter adjusted operating income yet, at $115 million. Concerts and sponsorship segments drove this growth, according to the announcement, with both delivering record first quarter revenue and operating results.

The company also says it has booked enough concerts, sold enough tickets, and secured enough sponsorship commitments to expect that the company will deliver double-digit operating income and AOI growth for the full year.

According to the announcement, nearly 15 million fans attended Live Nation concerts during the first quarter, up 22% year-on-year, led by our arena and theater shows which were each up over a million fans. As a result, revenue was up 27% and operating loss improved by 7%. Through mid-April, the company has sold over 49 million tickets for concerts this year, up 5% year-on-year.

The company’s sponsorship & advertising division, in what is typically its lowest activity quarter, saw revenue rise 1%, operating income up 3%, and AOI up 2%.

The company’s Ticketmaster division delivered its fourth highest transacted fee-bearing gross transaction value quarter. The announcement says, “While Ticketmaster was impacted in the quarter by a pull forward of onsales into the fourth quarter of 2018, by mid-March sales trends had turned around,” noting that through mid-April it has sold 4 million more concert tickets for shows this year than at the same time last year. It says that it expects Ticketmaster to deliver fee-bearing GTV, operating income, and AOI growth for the year.

More Biz

  • Hipgnosis Acquires Catalog From Jeff Bhasker

    Hipgnosis Acquires Catalog From Bruno Mars-Harry Styles Collaborator Jeff Bhasker

    Hipgnosis Songs Fund has acquired a music catalog from five-time Grammy-winning producer, songwriter and musician Jeff Bhasker. Terms of the deal were not announced, but Bhasker has worked extensively with such artists as Mark Ronson and Bruno Mars (on “Uptown Funk” and Mars’ “Unorthodox Jukebox” album), Kanye West (“808s & Heartbreak” and “My Beautiful Dark Twisted [...]

  • Kasi LemmonsNew York Women in Film

    Kasi Lemmons, Jane Rosenthal, Ann Dowd Talk Golden Globes Female Director Snub

    The absence of women among director nominees for the Golden Globes is another example of how much work remains to be done to achieve gender parity in the entertainment industry, honorees said Tuesday night at the 40th annual Muse Awards presented by New York Women in Film and Television. “Harriet” director Kasi Lemmons, “The Irishman” [...]

  • Juice WRLD - Jarad HigginsWireless Festival,

    Juice Wrld Streams Climb Nearly 500% After His Death

    As often happens after an unexpected death, Juice Wrld’s music soared in popularity after his passing on Sunday, with streams climbing nearly 500% on that day alone. On-demand audio streams for the rapper, who died at the age of 21 after suffering a seizure at Chicago’s Midway Airport, climbed 487% on Sunday to more than [...]

  • Netflix headquarters in Los Gatos, California,

    Netflix Ordered to Stop Poaching Fox Employees

    A court on Tuesday issued an injunction barring Netflix from poaching employees from Fox and confirming the validity of fixed-term employment agreements. The ruling marks a hard-fought victory for Fox — now owned by Disney — which set out three years ago to stop Netflix from raiding its employees. Netflix had sought to invalidate Fox’s [...]

  • Harry Styles performs at the Greek

    First Look at Harry Styles' Ticket-Giveaway Bus (EXCLUSIVE)

    Harry Styles announced Tuesday he is partnering with American Express to give away tickets to his concert at the Forum in Los Angeles on Friday — on a special custom bus. At the show, “Harry Styles Fine Line Live: One Night Only!,” the singer is expected to perform his entire new album, which is also [...]

  • Weeknd

    The Weeknd Takes Top Two Spots on Rolling Stone Singles Chart

    Fighting off a seasonal surge from Mariah Carey’s “All I Want for Christmas Is You,” The Weeknd’s two new singles topped the Rolling Stone Top 100 songs chart this week. “Heartless” and “Blinding Lights,” both of which dropped last week, rocketed to No. 1 and 2 respectively with more than 40 million streams between them. [...]

  • The Olympic Rings adorn an event

    NBCUniversal Expects More Than $1.2 Billion in Ads for Tokyo Olympics

    Madison Avenue is rushing to get money down in NBCUniversal’s broadcast of the 2020 Olympics from Tokyo, the latest big TV-sports event to spark heavier demand from advertisers at a time when finding truly big media audiences has grown more difficult. NBCUniversal said it is on track to take in more than the $1.2 billion [...]

More From Our Brands

Access exclusive content