Live Nation’s revenue is growing as concert ticket sales resume –

Live Nation said it experienced “the best first quarter ever” due to strong buying trends at Ticketmaster.

In the three months ending March 31, Ticketmaster recorded its second highest total transaction volume, excluding refunds, in the company’s history, selling around 111,292 tickets. The segment added seven million new net inflows in the quarter.

Live Nation recorded about 11 million viewers watching the shows in the first quarter, up from 15 million in the first quarter. 2019 (the most comparable quarter by company) as Live Nation planned “Limited Concert Activity” in the first few months of the year, anticipating higher demand later this year. “No Visitation Fee” has returned to COVID-19 levels.

It should be noted that executives said that inflation does not affect consumer demand or ticket sales prices.

Sponsorship sales are a double-digit number compared to this point in 2019. The company has already sold 90% of its planned sponsorship for the year.

Live Nation reported first-quarter revenue of $1.8 billion, up from $290 million in the previous quarter.

The company expects to have a strong year based on the boost in ticket sales in the first quarter. In 2022, more than 70 million tickets were sold for the show, 36% more than in 2019. Additionally, Live Nation has over 60 tours planned for 2023.

COVID-19 has little effect on scheduled events and the company has only canceled 1% of shows scheduled for March.

“Show fans show no signs of slowing down – they are paying more for the best tickets, attending shows and spending on the spot while creating memories for a lifetime,” wrote Michael Rapino, president and CEO of Live Nation. Release.