Ticketmaster has made a record-breaking start to 2018, with revenue and income up around 20% and the company making a “strong start” to its new deal with the NFL.
According to Live Nation’s financial results for the three months to March 31, Ticketmaster signed 135 additional clients in the quarter, adding new clients across 19 countries.
Revenue and operating income were both up by 19 per cent year-on-year, with adjusted operating income rising by 17 per cent.
Almost 60 million tickets were transacted, with 21 per cent growth in global gross transaction value to $5bn.
Live Nation said: “At its core, Ticketmaster continues to be the most effective ticketing platform in the world, with the technology to serve venues, sports teams and artists, and with the marketplace to attract and convert ticket buyers.”
The company said its strategic partnership with the NFL is “off to a strong start”, with “substantial increases” in both primary and secondary ticket sales in the few weeks since schedules were released.
Ticketmaster increased the number of events listed by 16 per cent to over 195,000 events. Site visits increased by 9 per cent while paid cost of acquisition was down by more than 20 per cent due to “continued marketing improvements”.
Discussing the entire Live Nation business, Michael Rapino, president and chief executive, said: “2018 is on track to deliver double-digit operating income and AOI growth along with expected strong gains in revenue, operating cash flow, and free cash flow.
“Our key leading indicators for our concerts, sponsorship & advertising and ticketing segments are ahead of last year, and we currently expect each of our businesses to deliver record revenue, operating income, and AOI this year.”
IMAGE: Geralt / Ticketmaster logo