Reside Nation has already bought 100m tickets for live shows in 2022 – greater than it bought in the entire of 2019
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Reside music’s lockdown hiatus looks like a distant reminiscence this week within the wake of Live Nation‘s wholesome Q2 outcomes.
In accordance with the corporate’s investor filing for the quarter ended June 30, 2022, the stay occasions big has bought 100 million tickets for live shows in 2022 to this point, which, it says, is already greater than what it bought for the entire 12 months in 2019.
Providing its prediction for the total 12 months, the corporate claims that “2022 is on monitor to be the largest 12 months in stay music historical past”.
In his letter to shareholders, Reside Nation President & CEO Michael Rapino claimed that “the second quarter confirmed that the stay leisure trade is again globally and larger than ever” and steered additional that “Reside Nation led this return”.
Added Rapino: “Each key working metric is at an all-time excessive, as we promoted extra live shows, had extra followers attend reveals the place they spent extra money, bought extra tickets and enabled manufacturers to attach with followers at a scale we’ve got by no means seen earlier than.”
When it comes to fincances, Reside Nation experiences that it generated revenues of $4.4 billion throughout all divisions in Q2, together with live shows, ticketing and promoting & sponsorship.
That Q2 income determine was up 40% versus the identical quarter in 2019, the 12 months earlier than the primary pandemic 12 months. It was additionally up $3.8 billion versus the identical quarter final 12 months, when the corporate generated $575.9 million because the stay enterprise began reopening in markets such because the UK and the US alongside nationwide vaccination packages.
Reside Nation’s live shows division was its greatest income driver in Q2 2022, producing $3.6 billion throughout the quarter (see beneath). The corporate’s ticketing enterprise generated $575.3 million in Q2.
The corporate experiences to have promoted over 12,500 live shows in Q2, with an attendance of 33.5 million followers, every up over 20% relative to the identical quarter in 2019.
In accordance with Rapino, of the 6 million-plus further followers attending live shows in Q2, 5 million of that development got here from worldwide markets, pushed, partly, by the corporate’s acquisition of Mexico-headquartered promoter OCESA. Reside Nation says that it additionally noticed notably sturdy fan demand by way of Europe and Latin America.
In accordance with Reside Nation’s steadiness sheet for the primary six months of the 12 months, the corporate generated revenues of $6.2 billion throughout all divisions, together with live shows, ticketing and promoting & sponsorship.
The corporate’s ticketing division contributed $1.05 billion to that whole determine in H1, up $783.4 million versus the primary six months of 2021.
Income from Reside Nation’s live shows enterprise within the first six months of the 12 months reached $4.8 billion, a rise of almost $4.3 billion in comparison with the $526 million generated within the first six months of 2021 (see beneath).
Elsewhere in Reside Nation’s investor submitting, the corporate experiences to have an “lively pipeline” of just about 30 new venues worldwide.
The corporate experiences additional that the variety of followers who attended reveals at its owned or operated venues throughout Q2 was up 13% YoY to over 14 million followers. Reside Nation expects that determine to succeed in over 50 million followers for the total 12 months.
Reside Nation additionally experiences that followers are spending extra on-site at its venues, with common income per fan up over 20% at its owned and operated amphitheaters, festivals, and theaters and golf equipment relative to the identical quarter in 2019.
Reside Nation says that the typical income per fan at its amphitheaters this 12 months is $38.50, up 30% relative thus far in 2019 (see beneath).
As of June 30, 2022, Reside Nation’s whole money and money equivalents have been $5.9 billion, which incorporates $1.4 billion in ticketing consumer money and $1.9 billion in free money.
Reside Nation says that this free money, together with $563.8 million of accessible debt capability, offers the corporate $2.5 billion of accessible liquidity.
“As we put together for 2023, all over the place globally is open for live shows, and we’re actively routing into all markets with the biggest artist pipeline we’ve got ever seen at this level within the 12 months.”
Michael Rapino, Reside Nation
Reside Nation Leisure, President and Chief Government Officer, Michael Rapino, stated: “As we stay up for the second half of 2022 and into 2023, we’ve got bought over 100 million tickets for our live shows this 12 months, greater than we bought for your complete 12 months in 2019.
“Fan demand stays sturdy, with continued development in ticket shopping for and on-site spending. And given the long-term nature of most of our sponsorship partnerships, our deliberate sponsorship for the 12 months is now absolutely dedicated.
“As we put together for 2023, all over the place globally is open for live shows, and we’re actively routing into all markets with the biggest artist pipeline we’ve got ever seen at this level within the 12 months.
“For the 2023 excursions we’ve got placed on sale to this point, all indicators proceed pointing to sturdy fan demand.”
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