Live Nation Q2 Revenues Up, Losses Down
August 10, 2015 at 1:47 PM (PT)
LIVE NATION has continued growing in the second quarter and for the first half, with revenue up 12% and adjusted overall income rising 6%, led by a robust concerts business, driving growth in both advertising and ticketing through the first half of 2015. Overall losses were down from $55.7 million in Q2 2014 to $42.2 million, while six-month deficit narrowed from $43.4 million last year to $18.3 million through June 2015.
LIVE NATION says it has sold 75% of its projected ticket supply for the year, 7% ahead of last year's total through JULY, a top leading indicator that concert attendance will also show an increase at year's end. LIVE NATION boasts 75% of the Top 25 global tours, including U2, IMAGINE DRAGONS, LADY ANTEBELLUM and ONE DIRECTION.
The Q2 findings also show per-fan on-site revenue has increased this year by 18% to over $20 per fan, with more than a million more fans attending LIVE NATION shows in Q2 than last year, with full-year projections a growth in fan base of more than two million.
LIVE NATION also demonstrated strong growth through the first half in its sponsorship and advertising business, with both revenue and overall income up over 20%. By the end of the second quarter, LIVE NATION had sold more than 80% of its sponsorship and advertising avails for the year.
Online advertising revenue grew by 36% and overall income by over 30% during the first half, with more than 65 million unique monthly visitors to LIVE NATION sites and broader network,
making it one of the top three online music networks.
With the growth of its festival business, LIVE NATION has increased the number of companies that pay over $1 million a year in advertising by 15%, delivering an estimated collective $200 million in 2015.
TICKETMASTER showed a 7% growth in site visits, leading to a 10% increase in combined primary and secondary Gross Transaction Value (GTV). Mobile now consistently accounts for more than half of LIVE NATION traffic, both in NORTH AMERICA and internationally. Mobile ticket sales are up 21% through first half, now accounting for 21% of all ticket sales.
Commented LIVE NATION Chairman/CEO MICHAEL RAPINO: "We expect 2015 to be another year of growth and record results for the company, and we are confident that we will deliver the final year of our three-year plan. Based on the strong position of our leading indicators in concerts, sponsorship & advertising, and ticketing, operationally we expect revenue and AOI growth in each of these businesses and overall for LIVE NATION this year. And more fundamentally, we continue to see a wide set of both organic and acquisition opportunities to further grow each of our businesses beyond 2015, directly building on the success we have achieved to date."