Live Nation First Quarter Revenues, Income Rebound From Pandemic Lows

Q1 Rebound

LIVE NATION ENTERTAINMENT first quarter 2022 revenue rose from pandemic lows, rebounding to beat 2019's pre-pandemic level. Total revenue of $1.803 billion ($480.4 million from ticket sales) exceeded 2019's $1.7 billion and 2020's pandemic-stricken $290.6 million. Adjusted operating income rebounded as well, from a loss of $151.7 billion to a gain of $209 billion.

“Artists are back on the road and fan demand has never been stronger, a reflection that live events remain a clear priority for consumers as our social lives restart,” said Pres./CEO MICHAEL RAPINO. “TICKETMASTER’s strong first quarter performance drove the company’s overall profitability, and shows how well our concert and sponsorship businesses are positioned to deliver record results this year.”

Added RAPINO, “We are seeing growth along a number of dimensions – expansion of existing relationships, new categories expanding our breadth of partners and new ad units being created both on-site and online.

“The number of strategic sponsors that generated over $1 million of revenue per year has risen by close to 30% since 2019, with their committed spend up 70% and accounting for 80% of our total sponsorship revenue.  About 60% of this growth has come from three categories of particular priority over the past two years – technology, telecom and purchase path integration – which have collectively more than doubled their sponsorship since 2019.”

RAPINO predicted double-digit growth in concert attendance in 2022 from 2019, reporting that over 70 million tickets have been sold for 2022 shows, up 36% from 2019's levels.

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