Live Nation revenue rises to £1.1 billion in Q1

Live Nation revenue rises to £1.1 billion in Q1

Live Nation revenue was up 17% to $1.4 billion (£1.1bn) in Q1 2017, according to the promoting giant's latest financial results.

Operating income rose 36%, and adjusted operating income (AOI) increased by 25% in the first three months of the year. The company has booked 4,000 shows up to the end of April, 10% up on the same period in 2016 and ticket sales are up more than 25% to 46 million.

"2017 is on track to be another year of growth and record results for the company," said Live Nation president and CEO Michael Rapino (pictured). "All of the leading indicators for our concerts, sponsorship and 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."

Live Nation's Ticketmaster subsidiary, meanwhile, recorded the largest quarter in its history for gross transaction value (GTV), growing its primary ticketing business by 18% and its secondary business by 20%.

"With this strong start to the year, we expect another record year in ticketing, driven by our concerts flywheel and enhanced by the progress we have made in our ticketing products and fan experience," added Rapino.

"The global concerts industry is structurally growing, with strong tailwinds for both supply and demand. On the supply side, artists are touring now more than ever.  And on the demand side, between the millennial shifting of spend to experiences and the globalisation of artists on social media, we see continued long-term growth as fans attend more concerts."

 

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