Friday, 24 February 2017

Record year for Live Nation

Live Nation stocks soared to an all-time high following the announcement of record revenues for the sixth consecutive year, climbing above US$30 for the first time. For the 12 months ended 31 December 2016, Live Nation Entertainment saw revenue rise 15% to $8.4 billion.

Operating income was up 48% to $195 million, while AOI (income before acquisition and stock expenses, depreciation and loss/gains from the disposal of assets) climbed 12% to $646m. Concert attendance was also up 12%, to 71 million people, while Ticketmaster increased gross transaction value 16% to $28bn on a constant-currency basis, boosted by posting six of its ten best-ever months in 2016. Rapino said the integration of Ticketmaster into new partner sites, including Spotify and Facebook, led to the sale of 10 million more tickets.

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