Live Nation saw its most profitable second quarter with a record $3.2 billion in revenue, according to the promoter’s most recent financial report.
Live Nation saw its most profitable second quarter ever with a record $3.2 billion in revenue, according to the promoter’s most recent financial report. Overall revenue for the industry giant jumped 10% from this time last year with all of its businesses delivering double-digit operating income and adjusted operating income growth through June 30, 2019.
In the second quarter, Live Nation had 27 million fans attend 10,000 shows, up 7% and 9%, respectively, from last year, for its largest second quarter ever. As a result, Q2 for the division grew operating income by 45%, AOI by 33% and revenue by 11% for $2.6 billion in revenue. “Globally, we continue to work with artists to enable them to capture the value from their shows -- through optimized pricing and Ticketmaster tools such as Platinum, we have delivered over $500 million in incremental value to artists since the start of 2018,” the release continued. “Through this, we have seen no reduction in demand, with global sell-through rates across our stadiums, arenas and amphitheaters as strong as last year.
With the addition of Evenko in Canada, Chase Center in the U.S. and the O2 in Prague to its roster of more than 150 clients worldwide, Ticketmaster reached a fee-bearing gross transaction value growth of 13% for the quarter.
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