'Each of our businesses is contributing to this success': Live Nation posts Q2 figures

'Each of our businesses is contributing to this success': Live Nation posts Q2 figures

Live Nation revenue was up 7% to $2.9 billion (£2.2bn) according to the company's Q2 financial results.

Operating income was also up 19% for the quarter to $135m (£103m) and adjusted operating income (AOI) rose 18% to $260m (£198m), while the promoter has sold more than 70 million tickets to shows in 2018 so far and is on forecast to hit 90m by the end of the year.

The company, which has this week been the subject to rumours of a takeover by US broadcasting giant SiriusXM, also grew its sponsorship and advertising revenue by 12% for the quarter (operating income and AOI were both up 14%). 

"2018 is on track for the company to deliver double-digit operating income and AOI growth along with strong gains in revenue, operating cash flow and free cash flow — adjusted," said Live Nation president and CEO Michael Rapino (pictured). "Each of our businesses is contributing to this success, as we put on more concerts for a greater numbers of fans, continue to monetise fans who come to the shows, sell more tickets to events of all types and further demonstrate the value of over 90 million fans to sponsors."

Revenue for Live Nation's Ticketmaster business rose 13% to $351.2m (£268m) and operating impact was up 12%. Mobile ticket sales also rose 34% for the year and now account for 40% of all fee-bearing ticket sales.

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