Earnings

November 4, 2021

Live Nation Makes a Comeback

Live Nation, the largest concert promoter in the world, is finally back to being profitable after almost two straight years of COVID-related losses. 🥳

The company posted earnings for Q3 and knocked our socks off — $LYV reported $2.7 billion in revenue for the quarter and adjusted operating income of $305.7 million, a stellar recovery from Live Nation’s $319.2 million loss a year ago. 🌟

Now that COVID restrictions are cooling off, fans are eager to see shows again, which means a big opportunity to raise ticket prices. Live Nation attributed much of its financial success this quarter to higher ticket prices, higher quantities of premium and VIP tickets sold, and a 20% increase in drink and merch sales.

Ticketmaster, Live Nation’s most profitable segment, reported that ticket sales were up 10% from pre-pandemic levels, though the company expects sales to return to pre-pandemic levels in 2022. Michael Rapino, Live Nation’s CEO, shared: 

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“As we get close to turning the page on 2021, I remain more convinced than ever on the power and potential of live entertainment, and the strength of our position. No industry was more impacted by the pandemic over the last two years, and no industry has so proven its durability of demand in the face of such disruption.” 

$LYV rocked 2.13% today. 🤘

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