As live performance tickets proceed to grow to be much less inexpensive for the common music fan, Live Nation (the stay occasion large and guardian firm of Ticketmaster) have simply unveiled report quarterly income for summer time 2022.
Dwell Nation made an absolute killing from July-September 2022, reporting income of $6.3 billion — a 63 % enhance from their numbers in 2019. Right here’s the expanded monetary overview reported by Dwell Nation themselves:
– Reported Income Up 63% to $6.2 Billion
– Reported Working Earnings Up 95% to $506 Million
– Reported AOI Up 45% to $621 Million and Up 51% to $645 Million On A Fixed Foreign money Foundation
– Yr-To-Date Working Money Movement Is $928 Million
– Yr-To-Date Free Money Movement – Adjusted Is $996 Million, Up 88%
A part of Dwell Nation’s huge quarter was report attendance for ticketed occasions. Throughout 11,000 occasions, Dwell Nation report over 44 million followers got here out this summer time. Ticketmaster additionally delivered an all-time excessive “reported fee-bearing gross transacted worth” of $7.3 billion — up 62 % in whole.
Together with their monetary report, Dwell Nation commented on “current press relating to ticketing charges,” which probably embrace President Biden’s recently announced effort to “crack down” on “hidden junk” charges for ticket consumers.
“Lastly on Ticketmaster, a degree on some current press relating to ticketing charges,” the report begins. “We are going to proceed to advocate for payment transparency in stay occasion ticketing. We advocated for the all-in pricing mandate handed in New York earlier this 12 months, which requires face-value costs and charges to be proven upfront – and we help the FTC mandating this nationally. We function ticketing marketplaces in additional than 30 nations world wide and have seen all-in pricing adopted efficiently in lots of nations when mandated throughout the board. This solely works if all ticketing marketplaces undertake collectively, so that buyers actually can precisely evaluate as they store for tickets.”
Dwell Nation’s full press launch, together with monetary statements of their report quarterly income, might be discovered here.
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