Live Nation Q3 Revenue $3.2 Billion, Operating Income $191 Million, Both Up
November 7, 2016 at 1:52 PM (PT)
LIVE NATION ENTERTAINMENT issued their Q3 2016 financial figures through SEPTEMBER, with revenue up 21%to $3.2 Billion, Operating Income increasing 25% to $191 million and Adjusted Operating Income up 14% to $303 million, while Free Cash Flow rose 21% to $251 million,
Concert ticket sales for 2016 have risen 14% through OCTOBER, while Sponsorship and Advertising were up 12% for the same period.
TICKETMASTER GLOBAL GTV was 14% ahead of last year through SEPTEMBER at Constant Currency
Commenting on the figures LIVE NATION President/CEO MICHAEL RAPINO issued the followihng statement: "We now have good visibility into our full year 2016 performance, and are confident we will deliver another year of record revenue, AOI and free cash flow. We continue to rapidly grow our concert fan base, which is demonstrating the effectiveness of our flywheel, driving anticipated double-digit growth in sponsorship AOI and ticketing GTV.As we look forward, we see tremendous opportunities to continue global consolidation of our concerts and ticketing businesses, with further growth in advertising and ticketing from the concerts flywheel."