×
You will be redirected back to your article in seconds

Live Nation Sees Strong Q2 as Revenue, Ticket Sales Climb

Live Nation Entertainment revealed earnings for a strong second quarter. Among the highlights: revenue was up 10% for the quarter to $3.2 billion; AOI increased 23% to $319 million and earnings per share climbed 68% to $0.41.

Key in today’s report is what the company calls a “strong tailwind in the live event, experience-based economy of today.” That means a rise of 16% in global ticket revenue from Live Nation concerts for the first half of the year. Also worth noting, ticket revenue from concerts outside of Live Nation’s top 100 artists is up 32% so far in 2019, pointing to a robust market that trickles down even into local clubs. Overall, the company sold over 73 million tickets through mid-July, up 6% over the same period last year.

Other growth areas include sponsorship revenue for individual artist tours as well as festivals; mobile ticket purchases, up 22% from the second quarter in 2018, now accounting for 45% of global ticket sales (Ticketmaster is under the Live Nation umbrella); and acquisitions. Just yesterday (July 24), the company announced acquiring a controlling interest in Mexico’s Ocesa Entertainment, which is home to Ticketmaster Mexico and a giant among promoters in Latin America.

Summarized president and CEO Michael Rapino: “Each of our businesses is contributing to this success, starting with concerts as we put on more shows for more fans, then continuing to monetize fans at the concert, sell more tickets to events of all types, and further deliver value to our sponsors from our platform of nearly 100 million fans.”

More Music

  • 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 [...]

  • Annie Lennox, Dave Stewart. Singer Annie

    Sting, Bruce Springsteen, John Mellencamp Relive '80s Glory Days at Rainforest Benefit

    Bruce Springsteen and John Mellencamp teamed up for two duets; Debbie Harry and DMC (Darryl McDaniels) collaborated on an epic rap collaboration; and the Eurythmics reunited for a set at Sting and Trudie Styler’s 30th annual Rainforest Benefit at the Beacon Theater in New York City Monday night (Dec. 9). The event  was hosted by [...]

  • Entertainment One

    Entertainment One Teams With Latin Music Management Company Entotal

    Entertainment One (eOne) has partnered with Entotal Agency,  an artist management company co-founded Tom Muzquiz and Jorge Sánchez, with Diego Abaroa. With a roster that includes Fanny Lu, Raquel Sofia, Lupita Infante and Martina La Peligrosa, Entotal specializes in Latin markets and also offers marketing, promotion, social media and public relations services. eOne’s Latin bonafides [...]

  • 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. [...]

  • Pharrell Williams, Nicole AvantThe Black Godfather

    Pharrell Williams and Nicole Avant on Creating New Music for 'The Black Godfather'

    Pharrell Williams is giving viewers an inside look at his songwriting process for “Letter to my Godfather,” a new tune he wrote for “The Black Godfather,” Netflix documentary about legendary music executive Clarence Avant. “Clarence Avant is known as ‘The Black Godfather’ because literally as a black man, he was able to do things that [...]

  • Warner Music Group Logo

    Warner Music, Providence Equity Launch $650 Million Fund to Invest in Song Catalogs

    UPDATED: Warner Music Group and Providence Equity Partners today announced plans to invest in recorded-music and music-publishing catalogs via a newly established platform, Tempo Music Investments, that has raised $650 million. Among the first acquisitions of the venture are selected copyrights of Grammy Award-winning songwriters Jeff Bhasker and Shane McAnally, and Ben Rector. The move [...]

  • Marie FredrikssonMarie Fredriksson at home in

    Marie Fredriksson, Singer of Roxette, Dies at 61

    Marie Fredriksson, singer of Swedish 80s pop duo, Roxette, died on Dec. 9. She was 61. Fredriksson died after a long battle with brain cancer for which she received aggressive treatment after being diagnosed in 2002, her management team said in a statement. “It is with great sadness we have to announce that Marie Fredriksson [...]

More From Our Brands

Access exclusive content