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LIVE NATION'S
LIVE RECORD

Michael Rapino's Live Nation is reporting a record Q3, with revenue growing 10% to $2.755b in constant currency as more than 24m people attended concerts between 7/1 and 9/30, the peak season for live entertainment.

In announcing Q3 earnings, Live Nation revealed an 18% spike in ticketing over 2014's third quarter to $101.6m. As of 10/26, the company had sold more than 54m tickets worldwide for shows in 2015, up 8% from this point last year. In the U.S., Live Nation sold 24.2m tickets in the third quarter, up from 22m in 2014.

The company's sponsorship and advertising category was up 16%  to $102.4m in the quarter; its management division, Artist Nation, posted 6% growth over 2014.

“As we look forward, we see tremendous opportunities to continue consolidating concerts and ticketing on a global basis, with further growth in our advertising and ticketing businesses from the concerts flywheel,” Rapino said in the earnings announcement.

Adjusted operating income was up 8% over last year, hitting $279.2m in constant currency.

Rapino also said he expects to have the company's TMOne ticketing platform available for North America venue clients by the end of the year. He said the company anticipates a fifth straight year of growth in the ticketing client base, global gross transaction value and ticketing adjusted operating income.

 

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