Live Nation’s Q3 results saw turnover grow to more than $3bn abd president and CEO, Michael Rapino, hailed the company’s “concerts flywheel” as it celebrated another record-breaking quarter.
Rapino told investors: “Our concerts business is our flywheel” – the persistent, margin-generating heart of the business – “attracting 28 million fans to shows globally in the quarter, which drove record results in our ticketing, advertising and on-site businesses. Our performance demonstrates how Live Nation has created the most unparallelled live platform, leveraging concert scale to drive growth across the full live ecosystem.” adding “Looking at the concerts flywheel in the third quarter, we had 16% more fans attend over 6,000 shows, growing revenue by 27% and AOI [adjusted operating income] by 38% year-on-year at a constant currency. Year to date, we have grown our fan base by 16% to 56 million [and] expect to [see] a record-setting 70 million fans attending Live Nation concerts in 2016.” Operating income from the concerts sector – or earnings before interest and taxes – grew 94% to £86.5 million.
Overall, Live Nation’s turnover grew to a record US$3.2 billion in Q3 2016 – up 21% year on year – outstripping quarters one (10% growth) and two (14%). The company also saw strong growth in ticketing (Ticketmaster) and sponsorship/advertising, which were up 14% and 11%, respectively. Within Ticketmaster, the gross transaction value (GTV) of its secondary-market platforms – such as Ticketmaster Resale, TicketsNow, Seatwave and Get Me In! – grew 33%, to more than $1bn for the three months ending 30 September.
And strong growth from its live and ticketing operations helped Vivendi increase turnover by 5.9% in the three months ending 30 September, its third-quarter (Q3) results reveal. Revenues from Vivendi Village – the subsidiary that includes the French multinational’s ticketing operations (See Tickets and Digitick), live event producer Vivendi Talents&Live and the 1,772-cap. Olympia venue in Paris – grew from €22 million in Q3 2015 to €24m; an increase of 5.8%, or 12.1% on a constant-currency basis (eliminating the effects of exchange-rate fluctuations). Vivendi’s Q3 financial report also reveals its €159m acquisition in April of a 15% stake in French retail group Fnac will serve as the basis for “increased co-operation in live events […] and in ticketing in certain countries by teaming up with Vivendi Ticketing”. Universal Music Group (UMG) posted impressive 10.8% growth to €1.308 billion.
Live Nation has reported a 10% rise in Q1 revenue at constant currency to $1.2 billion, thanks to strong performance across its concerts, advertising and ticketing businesses. Operating loss stands at $33bn for the quarter, and the firm expects to deliver record top line and bottom line results in 2016. Concert ticket sales are up 10% in Q1, with over 35 million sold. 21 of the top 25 global tours in 2016 were Live Nation's, including Beyoncé, Coldplay, Guns N’ Roses, Rihanna and Drake, driving a 13% increase in confirmed stadium, arena and amphitheater shows.
http://www.musicbusinessworldwide.com/live-nation-revenue-10-q1-2016/
Boosted by a strong fourth quarter, Live Nation posted revenues up 11% at $7.6 billion in 2015 and adjusted operating income of $616 million, up 11%, both at constant currency. In the fourth quarter of the year, revenues were up 17% to $1.8 billion, but with an operating loss of $34m.
In a letter to shareholders, CEO Michael Rapino labelled 2015 “a record year” for Live Nation saying "We built on our global leadership position in every part of our business, with more fans in both North America and internationally and across our full portfolio of arenas, amphitheaters, festivals, theaters and clubs" and the company said " We continue to see the tremendous power of live events, with strong global consumer demand. Live is a truly unique entertainment form - it cannot be duplicated. It is elevated, not threatened by technology and is borderless. Fans around the world can now discover, follow, share and embrace artists, creating greater demand for live shows."
http://investors.livenationentertainment.com/news-center/news-center-details/2016/Live-Nation-Entertainment-Reports-Fourth-Quarter-And-Full-Year-2015-Results/default.aspx
Live Nation experienced mixed fortunes in Q2 2015, with revenue rising 12% to $1.86 billion but operating income declining 13% to $48.4m. Concert revenue for the period was $1.34bn, while operating loss was $4.3m. The company says it has sold around three quarters of its projected tickets for the year and is pacing 7% ahead of last year’s sales. Live Nation stages close to 75% of the top 25 global tours, including U2, Imagine Dragons, Lady Antebellum and One Direction. It has also grown per-fan on-site revenue this year by 18% to over $20 per fan, citing sales initiatives, focused on high-end fans for the rise. More on Music Week here.
Live Nation’s revenue for the first quarter of 2015 fell year-on-year, but the company recorded growth in a number of areas. Revenue was down 0.6% to $1.12 billion for the three months ending March 31, but increased 4% on a constant currency basis, led by strong growth in its ticketing business, while sponsorship and advertising revenue rose by more than 20% in both categories. Net loss more than doubled to $66.5 million from $30.2 million. The firm is staging around 20 of the top 25 global tours, including U2, Maroon 5 Luke Bryan and Ariana Grande and Live Nation president and CEO Michael Rapino said: “2015 is shaping up to be another year of growth and record results for the company, and we remain confident we will deliver the final year of our three-year plan."
Audience reports that The Finnish subsidiary of Live Nation Entertainment (LNE) has announced it will start a round of so-called 'cooperation talks' with its 40 employees and their representatives about restructuring the company, after posting a $1.5 million loss. The move is a legal requirement for companies that want to make staff redundant or make temporary lay-offs. http://www.audience.uk.com/world_news.php#Live
Live Nation Entertainment has announced that its revenues for the first quarter of 2014 were up 22% year-on-year to $1.1 billion (£590 million). The company also reported an 11% increase in concert attendance, with more than nine million people attending some 4,800 Live Nation-promoted events. CMU Daily report that other areas of the company also helped drive the increase in revenues, with artist management firm Artist Nation increasing its revenues by 44% year-on-year to $73 million (£43 million). Ticketing revenue came in at $355 million (£209 million), up 9%, and sponsorship and advertising income came in at $45 million (£26.5 million) for the first quarter of the year, an increase of 13%.
Live Nation Entertainment has released its full year figures for 2013, which show an 11% increase in revenues of $6.5 billion, and a reduced net loss - with revenues boosted by successful EDM and country music concerts. The net loss was reduced to $36 million in 2013, down from $162 million in 2012. Ticketmaster sold nearly 400 million but the Group's revenues from artiste management decreased from 9% from $101.3 million in 2012 to $91.8 million in 2013 reflecting the departure of former executive chairman Irving Azoff on December 31st 2012. Long term debt is $1.5 billion and short trem debt $284 million.
