Live Nation Q1 Revenue Up To $1.4 Billion, Losses Down, Concert Ticket Sales Up 25%

Live Nation Entertainment

LIVE NATION ENTERTAINMENT released its financial results for the three months ending MARCH 31st, with Q1 revenues up 17% to $1.4 billion, operating income up 36% with a narrowed loss of $21 million, and adjusted operating income up 25% to $92 million, "with strong operating performance across all concerts, advertising and ticketing segments."

As of the end of APRIL, LIVE NATION have booked over 4,000 arena, stadium and amphitheater shows for 2017, up 10% over this point last year, with ticket sales up over 25% to 46 million.  

Looking globally at the concerts business, LIVE NATION now promotes shows in 40 different countries.

The company "continues to see the tremendous attraction of our 70 million plus onsite fans for advertisers, driving continued double-digit growth. As of the end of APRIL, the company has commitments for over 80% of its planned advertising for the year, pacing double digits ahead of this point last year.

In the first quarter, TICKETMASTER delivered its largest quarter in history for gross transaction value, or GTV, and ticket volume on a transacted basis. Growth in the quarter came from both fee-bearing primary and secondary businesses, which grew GTV by 18% and 20%, respectively.

On the commerce side, LIVE NATION attracted more fans to its sites, and in the quarter increased online visits by 10% year-on-year, and grew its installed app base by 41% to over 33 million. 

Commented LIVE NATION ENTERTAINMENT President/CEO MICHAEL RAPINO, "2017 is on track to be another year of growth and record results for the company. All of the leading indicators
for our concerts, sponsorship & advertising and ticketing segments are ahead of last year and we expect each of our businesses to deliver record revenue, operating income and AOI this year."

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