Live Nation Misses Revenue Expectations But Company Promises Momentum Ahead

Live Nation reported revenue of $7.7 billion, down 6 percent from the same period a year ago, and operating income of $640 million for the third quarter, down 2 percent, as the ticketing and promotion company predicts more concert momentum heading into 2025. 

The company’s concert sector brought in $6.6 billion, also down 6 percent from the same period last year, while ticketing fell 17 percent year-over-year. Sponsorship and advertising was up 6 percent. The revenue number missed analyst expectations, while earnings, at $1.72 per share, beat analyst expectations.

Still, Live Nation was bullish about its momentum. In the third quarter, the company reported  its highest concerts profitability with adjusted operating income of $474 million, up 39 percent from the prior year. Venue Nation fans spent more on-site with  double-digit increases in on-site spending per fan at major festivals and up 9 percent at amphitheaters year-to-date.

The company has sold 144 million tickets for Live Nation concerts through October, which is up 3 percent from the prior years. October transacted ticket sales for Ticketmaster were up 15 percent on all ticket volume and up 23 percent for concert events, including Live Nation shows.

Overall, tickets sold globally in September and October were up over 20 percent year-over-year, reflecting continued strong demand.

The company believes momentum will continue to be strong in 2025, with the concerts pipeline in large venues up double-digits compared to this point in 2023 and the stadium pipeline up double-digits compared to this point in 2022. More than 20 million tickets have already been sold for Live Nation concerts in 2025, up double-digits from this point last year, and recent 2025 stadium onsales for artists including Coldplay, Rüfüs Du Sol and Shakira have shown double-digit average growth in show grosses relative to past tours, according to the company. 

“We wrapped up our most active summer concert season ever, our show pipeline has never been bigger, and brand sponsorships are accelerating. While operating income will be impacted by one-time accruals, we are pacing toward double-digit AOI growth this year. As we look toward an even bigger 2025, we have a larger lineup of stadium, arena and amphitheater shows for fans to enjoy. Momentum continues to build, as we expand the industry’s infrastructure with music-focused venues to support artists and reach untapped fan demand across the globe,” said Michael Rapino, President and CEO, Live Nation Entertainment.

More to come.