Despite angry words from Taylor Swift, major issues with its Ticketmaster division, a Senate hearing and incoming legislation, Live Nation posted another record-breaking quarter in Q1 of 2023, with…
, Live Nation posted another record-breaking quarter in Q1 of 2023, with a record $3.1 billion in revenue — up 73% from the same period last year — and a record 19.5 million fans attending its events as the global touring business returns to full strength.
The company’s concerts division already has sold almost 90 million tickets for shows this year already, more than 20% ahead of last year, and posted adjusted operating income of $320 million, a 53% increase. “With many major tours — from Beyoncé to Drake to Bruce Springsteen — demand was so strong that even when artists added a number of additional shows, they still were not able to meet all of the fan demand,” Rapino said.
Highlights of the earnings are pasted below, but not surprisingly, the legislation affecting the company’s embattleddivision, which faced a firestorm of criticism after a botched on-sale for the Taylor Swift tour last fall, was a major topic during the earnings call’s Q&A session.
Ticketmaster led the company’s sale of more than 73 million fee-bearing tickets, up 40%, delivering $7.7 billion in fee-bearing gross transaction volume — up 60%. • Operating Income was $143 million, up 5.
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