Live Nation's Mixed Quarterly Results
The world's leading concert promoter recorded its first decline in quarterly revenue since 2021 in the third quarter of 2024. Its operating income remained stable.
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Consolidated revenue for the world's leading concert promoter Live Nation in the third quarter of 2024 was down 6% from the same period in 2023, to $7.65 billion, mainly due to a 17% decline in revenue from its Ticketmaster subsidiary in ticketing, amid a slowdown in ticket sales for major sporting events1.
This is the first decline in quarterly revenue recorded by the company since 2021. Revenues for the Concerts segment were also down 6% year-on-year in the third quarter, to $6.6 billion. However, they are still up 4% for the first nine months of the year, to $14.5 billion. Its sponsorship revenue grew by 6% year-on-year in the third quarter, to $390.3 million, but is down 25.57% for the first nine months, to $913.9 million.
Live Nation's consolidated operating income in the third quarter remained at a comparable level to 2023 over the period, at $639.5 million. Net income was $515.68 million. It reached $849.2 million for the first nine months. 50.1 million spectators attended its 12,834 concerts in the third quarter.