LIVE NATION Q2 REVENUE HITS RECORD $6B+

As part of its Q2 financial results, Live Nation Entertainment has reported a 7% increase in revenue to more than $6b, a new record fueled by a 5% uptick in concert attendance by 39m fans during the quarter.

Overall, the company enjoyed double-digit growth at its arenas and amphitheaters, as well as a 21% jump in operating income ($466m) and a similar increase in adjusted operating income ($716m).

Through its Venue Nation arm, the company has refreshed nearly a third of its amphitheaters since 2022, generating an aggregate return of more than 30% on 2022/23 projects.

As for Ticketmaster, its revenue experienced a 3% increase to $731m, with Q2 among the company's top five quarters for both transacted and reported ticket sales despite less traffic through stadiums.

"We continue to see strong demand globally, with a growing variety of shows attracting both casual and diehard fans who are buying tickets at all price points, which speaks to the unique experience only live concerts can provide," said Live Nation President/CEO Michael Rapino. "Venue Nation’s strategic investments in hospitality and infrastructure are driving strong returns as more attendees maximize their onsite experiences. While operating income will be impacted negatively by one-time accruals, we are on track to deliver double-digit AOI growth for the year and look forward to a very busy 2025.”

Live Nation continues to settle lawsuits pertaining to the 10 deaths at Travis Scott's Astroworld festival in 2021, with $94m in accruals in Q2 and $280m so far this year.