Live Nation posts 2017 results

Live Nation had another record year in 2017 for the full year ended on December 31. Revenue were up 24% to $10.3 billion; attendance at the company’s concerts was up 21% to 86 million; and sponsorship and advertising revenue was up 18%. The company’s Ticketmaster unit showed strong growth as well, with its fee-bearing gross transaction value (GTV) up 15%. The company acknowledged a $202 million fourth-quarter loss from its $110 million settlement with Songkick, whose assets it acquired as part. Looking ahead into 2018, LNE confirmed arena, amphitheater and stadium shows through February 19 are up 7% compared to this time last year.  CEO Michael Rapino said “Given our plans to further monetize our fan relationships, I expect this will translate into continued strong growth in concerts operating results in 2018.”