Live Nation set another record-setting financial year. And about that coming DOJ trial…
Live Nation, the biggest concert promoter in the world, released results for 2025 last week, reporting revenue of US$25.2 billion, which is up US$2.05 billion from 2024. That’s a 9% increase. Operating income was US$1.25 billion, which is up 52%.
Other facts:
- 159 million people went to Live Nation shows.
- Those people attended 55,000 Live Nation-promoted shows.
- For the first time, more people went to Live Nation shows outside the US than within the country.
- US$15 billion was invested in artists, with the company claiming it is “the leading financial supporter of artists.”
Before you start saying this is all about higher ticket prices, it isn’t. While that was a factor, you have to figure in things like sponsorship sales (their biggest source of income), food and beverage sales, and even parking. That’s the sort of thing that comes with owning your own venues.
And you can’t argue this: Artists are being paid and fans are willing to buy tickets in greater numbers than ever. Bruno Mars set the largest single-day ticket sales in the history of Live Nation last. Oasis had a brilliant 41-date run of stadiums. Harry Styles had 11.5 million pre-sale registrations. And BTS has already sold out its 41-date stadium tour. In fact, Live Nation has already booked US$4 billion in ticket sales for 2026 already.
Fantastic stuff, right. Yes–but there are still some lingering issue.
- A charge of all the settlements in the 2021 Astroworld tragedy in Houston that saw people die and injured.
- The legal challenge by the Department of Justice’s antitrust lawsuit against both Live Nation and Ticketmaster. That trial starts on March 2.
About that trial: It may be over before its begun. In fact, anyone hoping for a breakup of Live Nation and Ticketmaster is going to be disappointed. It ain’t gonna happen.
Southern District of New York Judge Arun Subramanian has granted Live Nation motion for a summary judgment in the case. This basically dismissing the claim that Live Nation’s promotion and booking biz fits the definition of a monopoly. He also dismissed any allegation that Ticketmaster is a “consumer-facing monopoly.”
There are still things that need to be sorted, including the claim that Ticketmaster is a “venue-facing monopoly,” which involves TM keeping the amphitheatres they own to themselves. But big deal. If they lose, all this means is that Live Nation will have to allow other companies to sell tickets for gigs at their venues.
The other outstanding issue is whether Ticketmaster has a monopolistic stranglehold on venues they don’t own by having long-term licensing agreements to sell tickets to gigs at those venues. The focus is on larger places with capacities of 8,000 or more. Meanwhile, venues LOVE these deals because it (a) provides long-term stability for their business, and (b) they get advances on shows sold through Ticketmaster. That’s pure profit.
After all the bluster, the upcoming trial may be something of a formality. Is it time to move on? Live Nation thinks so. And for what it’s worth, so do I. Dig into the business of concert promotion and ticket selling and you’ll come to the same conclusion, too.
