Live Nation Entertainment Reports Third Quarter 2022 Results

With this demand, revenue was up over 60% relative to Q3 of 2019, with each division up at least 30%.  Operating Income was up 95% to $506 million, with all divisions up at least 60% and AOI was up 45% to $621 million, with all divisions up at least 25%.

Record Summer Concert Attendance

As we expected, our performance this quarter was led by our concert business, which held 11 thousand concerts for 44 million fans across nearly 50 countries.  As a result, we generated over $5 billion of revenue and $281 million of AOI for the quarter, up 67% and 44% respectively, relative to Q3 2019.

Shows of all types continue having strong demand, with double-digit attendance growth across all venue types including clubs, theaters, amphitheaters, arenas, stadiums and festivals.  Stadiums had a particularly strong quarter with our fan count more than tripling to nearly nine million fans, driven by the global demand to see top acts across a number of genres and audiences such as Bad Bunny, The Weeknd and Red Hot Chili Peppers.

We delivered double-digit attendance growth relative to Q3 2019 across established and emerging markets around the globe from North America to Europe to South America, showing our long runway of global growth.

At the same time, our operated venues successfully hosted more fans, with attendance up 14% relative to Q3 2019 to 19 million fans for the quarter, and 38 million fans year-to-date.  Based on current pacing, we expect to host more than 50 million fans at our festivals and Venue Nation division this year.

As we have grown attendance, we have also continued driving greater market pricing for our concerts, and now expect to transfer over $550 million of additional payments to artists this year, continuing our efforts to help artists get the full value from their shows.

Over the course of the summer, we also continued to see strong on-site per fan spend with no reduction in consumer buying habits.  Ancillary per fan spending was up 20 to 30% year-to-date relative to 2019 in our operated venues across the U.S. and Europe.  The consistent theme is that fans are eager to enhance their experience, as we continue elevating our hospitality operations and provide more premium options.  We still have tremendous room to expand these higher quality experiences throughout our venue portfolio, which includes over 400 venues and festivals globally with almost 40 new venues in our pipeline.

Highest Gross Transaction Value Quarter Ever at Ticketmaster

Fan demand for live events was also clear in our ticketing business, as we transacted $6.7 billion of fee-generating GTV on 71 million tickets, up 69% and 42% respectively, relative to Q3 2019.  This demand remained strong throughout the quarter, as two of the three months were amongst the top 10 transacted GTV (excluding refunds) months ever.  At this point, all top 10 months occurred within the past year. 

GTV growth was strong across both our primary and secondary markets, up 61% and 132%, respectively.  Concerts drove 80% of the growth in primary GTV while concerts and sports together accounted for over 90% of our secondary GTV growth.

Globally, new venue clients continue to seek out Ticketmaster's services due to the effectiveness of our enterprise software platform driving venue revenue, combined with our leading online marketplace.  As a result, we have contracted 19 million net new tickets so far this year on a global basis.

Finally on Ticketmaster, a point on some recent press regarding ticketing fees.  We will continue to advocate for fee transparency in live event ticketing.  We advocated for the all-in pricing mandate passed in New York earlier this year, which requires face-value prices and fees to be shown upfront – and we support the FTC mandating this nationally.  We operate ticketing marketplaces in more than 30 countries around the world and have seen all-in pricing adopted successfully in many countries when mandated across the board.  This only works if all ticketing marketplaces adopt together, so that consumers truly can accurately compare as they shop for tickets.

Festivals and Global Footprint Fuel Sponsorship Growth

Sponsorship had its biggest quarter ever following our previous record last quarter, driven by the strength of our festivals and online partnerships.  Our strong performance drove AOI of $226 million, 56% higher than Q3 2019.  Our sponsorship revenue growth has been broad-based, with North America up 48% and International sponsorship up 93% year-to-date.  And we see strong demand both on-site and online, up 64% and 63%, respectively this year, as our unique scaled live events platforms continue to attract new brands and expand relationships with current partners.

Festival sponsorship has been our largest growth driver on-site to date, as we have effectively leveraged record festival attendance this year and compounded this growth with double-digit increases in per fan sponsorship.  Platform integrations have been our greatest growth driver with online partnerships, as we continue to drive value and monetize opportunities via Ticketmaster's purchase process, with non-service fee revenues up double-digits relative to 2019.

Looking Ahead to 2023

Clearly 2022 has been an incredible year of returning to live events, and we expect it to finish strong.  Ticket sales for concerts this year were up 34% for the quarter, and now stand at over 115 million tickets sold for shows this year, up 37% from this point in 2019.

More importantly, momentum is strong with early signs pointing to continued growth in 2023 across our businesses.  Ticket sales for shows in 2023 are pacing even stronger than they were heading into 2022, up double-digits year-over-year, excluding sales from rescheduled shows.  In our sponsorship business, confirmed commitments are up 30% from this time last year, showing the resiliency and long-term commitments that brands have for our business.

Beyond these specific leading indicators, going into 2023, we expect we will drive growth in our concert business by adding more venues to our operated portfolio, continue increasing ancillary per fan revenue and further our efforts to deliver market value for the show to artists.  And in ticketing, we expect to benefit from these market pricing trends, while also continuing to globally add new clients to our world-class platform.

Michael Rapino
President and Chief Executive Officer
Live Nation Entertainment, Inc.

The company will webcast a teleconference today at 2:00 p.m. Pacific Time to discuss its financial performance, operational matters and potentially other material developments. Interested parties should visit the "News / Events" section of the company's website at investors.livenationentertainment.com to listen to the webcast. Supplemental statistical and financial information to be provided on the call, if any, will be posted to the "Financial Info" section of the website. A replay of the webcast will also be available on the Live Nation website.

Notice Regarding Financial Statements

The company has provided certain financial statements at the end of this press release for reference.  These financial statements should be read in conjunction with the full financial statements, and the notes thereto, set forth in the company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission today and available on the SEC's website at sec.gov.

About Live Nation Entertainment: 

Live Nation Entertainment, Inc. (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. For additional information, visit investors.livenationentertainment.com.

FINANCIAL HIGHLIGHTS – NINE MONTHS (unaudited; $ in millions)
	9 Months 2022 Reported		9 Months 2021 Reported		9 Months 2022 Constant Currency
Revenue
Concerts	$   10,098.2		$     2,678.0		$   10,475.0 Werbung Mehr Nachrichten zur Live Nation Entertainment Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 23.04.24 - PR Newswire Fidelity Asian Values Plc - Transaction in Own Shares 23.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Transaction in Own Shares 23.04.24 - PR Newswire Wood Group (John) Plc - Director/PDMR Shareholding Der KI-Boom ist vorbei!    Aber dieser heiße Sektor verspricht, weiter zu wachsen... weiterlesen» Anzeige wo-site-teaser-box-16737_site-teaser-box_2024-04-23_09%253A00%253A00_2024-04-24_09%253A00%253A59