![]() ![]() ![]() All venue types have strong show count growth, led by North America stadium and arena concerts. ![]() The strength of our business is continuing in 2020, with concert tickets sold through mid-February for 2020 shows up 10% to 38 million, and a pipeline of 4,700 confirmed arena, stadium and amphitheater shows, up 30% from the same time last year. As we have gotten better at on-site hospitality over the past several years, this opens up more opportunities for us to operate more buildings where we make more money per fan, which then accelerates the on-site part of our flywheel. We added 38 new venues in 2019, including six new festivals and 18 new theaters & clubs. This hospitality focus also grew on-site spending at our festivals and theaters & clubs, the result of a better experience for our fans across all our operated venues. At our amphitheaters, spending grew by $2.50 to over $29 per head as we improved our product offering, reduced friction with shorter lines, and improved VIP hospitality offerings. Once at the show, average per fan spending grew as well. Even with these increases, concerts remain a great deal for fans relative to other live experiences – our average ticket for a concert at one of our amphitheaters was $46 in 2019 relative to about $75 for an NBA game and over $100 for an NFL game. And across all of the artists we work with, we invested well over $6 billion to promote 40,000 shows in 42 countries, with Live Nation by far the largest financial supporter of artists in music.Īverage ticket prices for our amphitheater and arena shows are up double-digits since 2017, while sales of dynamically-priced Platinum tickets were up 66% for the year across 3,000 shows, as artists want more of the best seats in the house sold at market value at the onsale. This growth was broad-based across our portfolio, with international fan count up 11%, while in North America, arenas, festivals and theaters & clubs contributed to our growth.Globally, festival and theater & club attendance was up double-digits, highlighting the strength of our global footprint and the value of a diversified portfolio of markets, genres and building types that have enabled our consistent growth over the past several years. With these demand dynamics, in 2019 we delivered growth in concerts revenue of 8%. In the U.S., over the past five years consumer spending on live entertainment has grown 7% annually, providing strong structural tailwinds to drive increased demand for concerts globally. In our Concerts segment, fans continue to find the live experience, from club shows to arenas to festivals, a top entertainment choice and the best way to celebrate their favorite artists and share the experience with other fans. Starting with the core of our business, our concerts fan count was up five million to 98 million globally, driving AOI growth in all of our segments – concerts, sponsorship and ticketing – and demonstrating the effectiveness of our flywheel business model. In 2019, Live Nation delivered its ninth consecutive year of growth, with revenue up 7%, operating income up 19% and adjusted operating income ("AOI") up 14%. ![]()
0 Comments
Leave a Reply. |