Live Nation, the world’s leading entertainment company, had its best year on record in 2023. Here’s what that means for concerts coming up.
Live Nation’s Success And Concerts Coming Up
It’s hard to believe that back in 2020 we were all wondering whether live music events would ever happen again come “the new normal”…
FAST FORWARD TO 2023 AND CONCERTS COMING UP HAVE NEVER BEEN BETTER.
No one is celebrating more than Live Nation, considering 2023 was the best year in company history. Compared to 2022, concert attendance was up 20%.
Ticketmaster, which is owned by Live Nation, reported that last year, the company sold more than 630 million tickets for a variety of events. Of course, it helped that two of the biggest stars in the music industry…
Taylor Swift and Beyonce…
Had tours last year that contributed to concert economies.
While Q4 is usually the slowest quarter in terms of finances for the company…
Last year they went above and beyond expectations. The company brought in $5.8 billion, up 36% year over year.
AT THE END OF THE YEAR, LIVE NATION HAD THEIR TOTAL REVENUE COME OUT TO $22.7 BILLION.
As for concerts coming up, the company has already booked 65% of the calendar year. That means that the events you know and love are already on the way.
But what does this mean for tickets?
Conclusion
For 2024, there have already been over 57 million tickets sold for different events. Which is already 6% more than this time last year.
This might mean that you might have to squeeze in a little more when you’re standing next to concert-goers in the pit.
But as far as concerts coming up goes… the event business is still strong. Take this quote from Live Nation’s CEO and President:
THE LIVE MUSIC INDUSTRY HAS REACHED NEW HEIGHTS IN 2023, AND DEMAND FOR LIVE MUSIC CONTINUES TO BUILD. OUR DIGITAL WORLD EMPOWERS ARTISTS TO DEVELOP GLOBAL FOLLOWINGS, INSPIRING FANS TO CRAVE IN-PERSON EVENTS MORE THAN EVER.
However many concerts coming up the company puts on this year, one thing is certain…
In the case of Live Nation… no one thing can kill a powerhouse industry.
Be Great,
GCTV Staff
Disclaimer: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.
