Skip to main content
Concert revenue grew 12 percent to about $2.7 billion in the quarter.
Live Nation posted revenue of $3.8 billion for the first quarter, the company said in its first-quarter earnings report Tuesday, though the live music giant also reported an operating loss of $371 million tied to $450 million in legal receivables from the company’s latest antitrust trial loss last month.
Tuesday’s earnings mark Live Nation’s first quarterly quarter since last month’s antitrust ruling, in which a jury decided the company violated antitrust laws and operated as a monopoly. The company said Live Nation’s revenue grew 12 percent year over year, while deferred revenue — revenue tied to live events scheduled for later in the year — rose 22 percent to $6.6 billion, pointing to potentially strong numbers in the coming months as the concert season gets into full swing.
Live Nation’s earnings contrast with recent high-profile concert cancellations from the likes of Post Malone, Meghan Trainor and the Pussycat Dolls, which has fans wondering whether the broader concert business is struggling in a more challenging economy as concert tickets become more expensive. Whether this is the case remains to be seen. Live Nation said Tuesday it has sold 107 million tickets year to date, an 11 percent increase over last year.
Concert revenues grew 12% to about $2.7 billion, while ticket revenues rose 10% to $765 million, and sponsorship revenues grew 20% to $258.6 million.
“In a digital world increasingly reliant on artificial intelligence, the universal desire for real human connection has never been stronger,” Live Nation CEO Michael Rapinoe said in a statement Tuesday. “We are seeing a fundamental shift as fans prioritize the ‘live’ experience, the opportunity to be physically present with their favorite artists and share that energy with friends and fellow fans in a way that a screen cannot replicate.”
THR Newsletters
Sign up to get THR news straight to your inbox every day
Subscribe subscription
