
People not going to concerts? Hah! Live Nation just reported a massive Q2
While there have been stories about tours not doing well, Live Nation says that things are just fine. Their second quarter results contained the following (all figures in USD)
- Revenue of $7 billion, which is up 16%
- Operating income of $487 million. That’s up 4%
- Adjusted operating income (AOI) of $798 million. That’s up a healthy11%
- Record concerts profitability with AOI of $359 million, up 33% (I think that means the number of shows that made money.)
- Global attendance wet up 14% to 44 million fans.
- Attendance at stadium shows ripled. (Than you, Oasis.)
- Ticketmaster Gross Transaction Value (GTV) increased 7% to $9 billion
- Over 40% of global stadium shows sold out 95% of tickets in the first week
- That $30 ticket promotion from earlier this year? Sales up to 1.5 million tickets, a historiic high.
All in all, things were very good for Live Nation. You can see the entire report here.