Live Nation reports “unprecedented” global demand for live events
“Talking to fans, they say that live experiences are the number one leisure category where they expect to spend more in the future,” said CEO Michael Rapino.
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Global demand for live shows is at an all-time high and is showing no signs of letting up, per new figures published by Live Nation.
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The live entertainment company recently released its financial results for the first quarter of 2023, revealing a record $3.1 billion in revenue — up 73% from last year, and more than 90 million tickets sold since the start of the year. Live Nation is also set to manage 600 million global ticket sales in 2023.
Michael Rapino, President and CEO of Live Nation said, “What is clear as we look at our results and operating metrics is that global demand for live events continues to reach new heights – demand has been growing for a long time and is showing no signs of letting up.”
“Talking to fans, they say that live experiences are the number one leisure category where they expect to spend more in the future. Naturally, this is leading to record levels of activity in both our concerts and ticketing businesses.”
“When fans attend our shows, they continued spending to enhance their experience. While our key outdoor season has not started yet, early reads from U.S. and European indoor venues that we operate demonstrate further growth in average per fan revenue.”
“We expect to host a record number of fans this year, even against a 2022 comparison which benefited from rescheduled shows attended by 20 million fans. Ticketmaster should also deliver record activity, with around 600 million tickets managed globally this year.”
Read the full report on livenationentertainment.com
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