Live Nation Second Quarter Revenues, Income Rise

Q2 Numbers

LIVE NATION ENTERTAINMENT second quarter 2019 revenue increased 10% year-to-year to $3.2 billion, with operating income up 27% to $172 million, and adjusted operating income rising 23% to $319 million.

The number of concert tickets sold for 2019 shows is up over 4 million through mid-July, totaling 73 million and putting the company on track to sell close to 100 million tickets for 38,000 concerts this year behind record second-quarter sales of 27 million tickets for 10,000 shows (up 7% and 9%, respectively), while sponsorship and advertising committed net revenue is ip 18% for the year to date. TICKETMASTER fee-bearing gross transaction value grew 13% at constant currency, with revenue up 6%, operating income up 31%, and adjusted operating income up 20%.

In a press release, Pres./CEO MICHAEL RAPINO said, "We continue to benefit from a strong tailwind in the live event, experience-based economy of today. The global ticket revenue from our concerts is up 16% for the first half of the year, as we continue to see a strong supply of artists touring matched with global consumer demand. And within this, the ticket revenue from concerts outside our top 100 artists is up 32% so far this year, demonstrating that the demand for live music is strong and growing from the largest stadiums to the local clubs."

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