Live Nation pulled in $17.3b in constant currency in 2022, a 44% spike over 2019, the last year the live-entertainment business was fully operational.
The company made $14.02b in constant currency with 43,644 concerts in 45 countries attended by a record 121m fans. LN sold 551m tickets in 2022.
Concert attendance was up 24% over 2019. 18.4m people attended stadium shows and 13.2m attended festivals, a 30% jump over 2019.
Without the constant-currency calculation, the impact of which was primarily due to the dollar's strength against the euro and the pound, Live Nation’s revenue was $16.7b.
Operating income for the year was up 125% to $732m.
Live Nation President and CEO Michael Rapino reported that the company spent $9.6b to produce shows in 2022, a 45% increase over 2019.
“As part of this," Rapino said, "we helped shift $700 million to artists with more market-value ticket pricing, even as the entry price of a show stayed below $35 in the U.S. Typically 90% of ticket sales for Live Nation shows go to artists. This is particularly important as artists are increasingly reliant on touring as they get much smaller revenue shares from other music-revenue streams.”
What a difference a year makes: Live Nation staged 29,169 concerts in North America in 2022 compared to 12,000 in 2021. Internationally, it was 14,475 in 2022 and 5,408 in 2021.
Fee-bearing-ticket volume rose 28% over 2019 to 280m, pushing ticketing revenue up 45% to $2.2b. This was the first time fee-bearing tickets (281k) outnumbered non-fee-bearing tickets (270k).
LN had 120 strategic sponsors globally, 32% more than in 2019, which helped push overall sponsorship up 64% to $1b.
International markets led growth in 2022 and, as of mid-February, international ticket sales were up 25% for 2023 concerts.
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