Live Nation has reported revenue growth of 7% to $11.5bn in 2019, with a 10% rise in ticket sales year-on-year to 38 million.

Ticketmaster, which is owned by the entertainment giant, has seen operating income rise by 15% and AOI by 11%.

The firm said much of its growth came through reduced customer acquisition costs across both primary and secondary ticketing and from increased secondary ticketing volume, notably the NFL and other sporting events.

It also noted that its international ticketing business drove growth in fee-bearing tickets and gross transaction value (“GTV”), led by strong international concerts ticket sales.

Ticketmaster provides ticketing services in 31 countries and in 2019 delivered 115 million tickets internationally.

Michael Rapino, president and chief executive of Live Nation, said: “Ticketmaster continues to lead the ticketing industry, both operationally and in digital ticketing. Looking at 2020, I am confident in Ticketmaster’s ability to extend that leadership position globally as we add more customers, ticket more events and expand our digital ticketing footprint.”

Live Nation has also reported an 8% increase in concert revenues in 2019, with its international fan count up by 11%.

It added average ticket prices for its amphitheatre and arena shows are up double-digits since 2017, while sales of dynamically-priced Platinum tickets were up 66% for the year across 3,000 shows.

Rapino added: “The strength of our business is continuing in 2020, with concert tickets sold through mid-February for 2020 shows up 10% to 38 million, and a pipeline of 4,700 confirmed arena, stadium and amphitheatre shows, up 30% from the same time last year. All venue types have strong show count growth, led by North America stadium and arena concerts.”

Image: Live Nation