LIVE NATION'S RECORD-SETTING YEAR
Michael Rapino's Live Nation has released its financial results for 2014. Not wishing to baffle you with arcane economic jargon, they are big.
"We blieve the live business will continue to have strong growth for years to come as connected fans drive demand, artists are motivated to tour, and mobile technology drives conversation," Rapino noted in his comments accompanying the report.
The company grew adjusted operating income (AOI) by 10% to $555 million and revenue by 6% to $6.9 billion. Free cash flow was up 9% to $327 million.
Ticketmaster's gross transaction value (GTV) reached $23 billion (up 7%), while secondary GTV spiked 55%. The ticket division, sponsorship and Artist Nation turned in double-digt growth.
LN's normalized operating income was $161m (+7%), while normalized net income was $22m.
Online advertising profit grew 15%, with an 80% margin. Affiliated website visits numbered 1 billion.
"We are confident that our business model, and its scale, provides ongoing growth potential," Rapino noted. "There are continued opportunities to consolidate the global concerts business, and we will use that scale to drive fan monetization, advertising and ticketing."
