Live Nation Entertainment posts biggest ever year

Featured Image: Nathan Fertig on Unsplash

Live Nation Entertainment saw its revenue rocket 36% to reach $22.7bn (£18bn/€21bn) in 2023, with attendance up by 20% as more than 145 million fans attended over 50,000 events worldwide. 

Ticketmaster’s revenue also rose 32% to reach almost $3bn at $2.96bn, while concerts brought in $18.8bn. This is an increase of $2.2bn  and $13.5bn, respectively. Ticketmaster sold 620 million tickets in 2023, a 13% increase on 2022.

Over the last 12 months, sponsorship and advertising brought in $1.1bn, while other and eliminations amounted to ($69.3m). This is an increase from $19.6m in 2022. Operating income increased 46% to $1.07bn and adjusted operating income (AOI) has doubled since 2019 to reach $1.86bn.

Venue Nation saw over 55 million fans attend its operated venues and festivals, an increase of 13%, as it seeks to expand its global venue portfolio.

The final quarter of 2023 saw concerts bring in $4.9bn, an increase on the $3.4bn posted the year prior, with ticketing amounting to $740m – a 14% increase on Q4 in 2022. Sponsorships and advertising in the final quarter amounted to $255m, up from $245m in the same period the year prior.

AOI in the final quarter of 2023 amounted to $117m.

“The live music industry reached new heights in 2023, and demand for live music continues to build. Our digital world empowers artists to develop global followings, while inspiring fans to crave in-person experiences more than ever,” said Michael Rapino, president and chief executive, Live Nation Entertainment.

“At the same time, the industry is delivering a wider variety of concerts which draws in new audiences, and developing more venues to support a larger show pipeline. Against this backdrop, we expect all our businesses to continue growing and adding value to artists and fans as we deliver double-digit operating income and AOI growth again this year, with our profitability compounding by double-digits over the next several years.”

Additionally, as of mid-February, Live Nation has seen 57 million concert tickets sold, with Ticketmaster posting $13bn in fee-bearing gross transactional value (GTV). The start of the year has also seen some 75% of sponsorships already booked. Arena and amphitheatre sales have increased by double-digits, while strong demand can be seen across price points.

Live Nation’s show pipeline has already seen 65% of the full-year booked, compared to 50% at this point last year.