By continuing past this page, you agree to our terms of use. Ticketmaster also does not embrace deceptive and questionable secondary ticketing practices prevalent on rival sites such as speculative ticketing. Since Ticketmaster is part of Live Nation Entertainment, you'll go to the Ticketmaster website to complete your purchase. 75 Coxe Avenue. Josh Groban, one of the Live Nation artists whose . Live Nation increased its revenue in 2022 by roughly 166 percent over its 2021 revenue,as the live event conglomerate's newly reported yearly earnings reveal. All subsequent written and oral forward-looking statements by or concerning Live Nation are expressly qualified in their entirety by the cautionary statements above. American Express, Citi, and Chase cardholders. We may earn a commission from links on this page. All Rights Reserved. Overall, quarterly revenue at Live Nation, which runs music festivals like Lollapalooza and Governors Ball, jumped to $1.8 billion, up from $290 million in the year-earlier quarter. Finally on Ticketmaster, a point on some recent press regarding ticketing fees. In 2010, the retailer merged with Live Nation, the promoter, to become a singular company. Greg Maffei, who also chairs Live Nation's board of directors, said Ticketmaster opened pre-sale access to 1.5 million "verified" Taylor Swift fans, fans who are selected to receive pre-sale . This demand remained strong throughout the quarter, as two of the three months were amongst the top 10 transacted GTV (excluding refunds) months ever. The Weekend. Maybe its the hottest boy band in the country coming to a stadium near you, or perhaps its a jazz band that puts you in a soulful mood. A Division of NBCUniversal. Indeed, that's a 166-percent increase almostthree-fold over 2021 revenue of $6.27 billion (Variety). For the past 12 years Live Nation has operated under a Consent Decree that among other things seeks to prevent anticompetitive leveraging of Live Nation promoted content to advantage Ticketmaster. The A.V. Yes, I want to receive email updates from Live Nation . $ 2,018.3. These ticket metrics are net of any refunds requested and any cancellations that occurred during the period, which may result in a negative number. For too long, Live Nation and Ticketmaster have wielded monopoly power anticompetitively, harming fans and artists alike, the Senators wrote in the February 23 letterthe second letter penned by Klobuchar regarding Ticketmaster in the past three months. We delivered double-digit attendance growth relative to Q3 2019 across established and emerging markets around the globe from North America to Europe to South America, showing our long runway of global growth. Thats why the company, which faced massive public pushback earlier this year in the aftermath of a Taylor Swift ticket sale meltdown, has proposed a (kind of) solution. If you arent sure what event you want to attend or want to research events happening at your upcoming vacation destination, you can research events through livenation.com. A limitation of the use of FCF as a performance measure is that it does not necessarily represent funds available for operations and is not necessarily a measure of our ability to fund our cash needs. The companys CFO Joe Berchtold also claimed that Ticketmaster doesnt set the lofty ticket prices. For a limited time only next week, fans will have access to exclusive $20 tickets to participating Live Nation shows, including taxes and fees. Get this delivered to your inbox, and more info about our products and services. Festivals and Global Footprint Fuel Sponsorship Growth. Moving on to the earnings report, Live Nation's year-end results for 2022 were formidable, with revenue up 44% to $16.7 billion over 2019, operating income up 125% to $732 million and adjusted . Live Nation Entertainment, the company thats owned Ticketmaster since 2010, knows its hard out there for music fans. Number of shows for 2022 not representative of 2023 season. Notably, these are all things that Live Nation and Ticketmaster could choose to do internallybut instead, the company and its subsidiary are punting the problem to lawmakers. T-Mobile and Sprint customers can score exclusive 24-hour early access to the $20 all-in tickets through T-Mobile Tuesdays starting Tuesday, July 27th at 12pm ET/9am PT. Venue Presale. "Daily reminder that Ticketmaster is a monopoly," Rep. Alexandria Ocasio-Cortez, D-N.Y., wrote in a Tweet Tuesday. 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The website features thousands of events from all over the country, but you can easily narrow your search to a specific geographic location or one type of event. In our sponsorship business, confirmed commitments are up 30% from this time last year, showing the resiliency and long-term commitments that brands have for our business. Key Background. Harry is equally renowned as an incredible live performer. The Ticketmaster and Roc Nation owner posted a fourth quarter operating loss of $119.9 million, compared to a year-earlier operating loss of $124.5 million. Accordingly, AOI should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Buy tickets for upcoming concerts, music festivals and more of your favorite artist touring. Expires. Explore HARDY tour schedules, latest setlist, videos, and more on livenation.com Updated: Jul 28, 2021 / 01:21 PM EDT. $20 All-In Tickets Live Nation: Return to Live For additional information, visit www.livenationentertainment.com. Live Nation is the parent company of Ticketmaster. Enjoy 10% Off Your Ticket Purchase To The Wiggles Big Birthday Event. Forward-Looking Statements, Non-GAAP Financial Measures and Reconciliations: Certain statements in this press release, including the Supplemental Information that follows, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. "I'm hearing about site crashes and fans waiting for hours. Got a confidential news tip? Print your tickets from home or pick them up at the event. Ticketmaster has a significant share of the primary ticketing services market because of the large gap that exists between the quality of the Ticketmaster system and the next best primary ticketing system. In the 1990s, the service had a long-running feud with Pearl Jam over the issue of pricing and fees. At the same time, ticket prices for concertsskyrocketed,as recent reports have shown. . Three-day passes for the country festival begin at $389 with VIP, camping and parking passes also available. Live Nation, Ticketmaster may need breakup, some senators say Reuters [1/2] Taylor Swift poses on the red carpet for the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf . Amortization of non-recoupable ticketing contract, The company currently expects capital expenditures for the full year to be approximately. But the concert giant emerged victorious when the court ruled buyers had waived their rights to sue in favor of arbitration per the company's terms and conditions. Looking ahead, Live Nation said it expects a strong year as over 70 million tickets have now been sold for shows in 2022, which accounts for a 36% jump over the same period in 2019. Last Thursday, Live Nation announced that $25 tickets will return for 2022 during its annual Concert Week sale. Find Events. Festival sponsorship has been our largest growth driver on-site to date, as we have effectively leveraged record festival attendance this year and compounded this growth with double-digit increases in per fan sponsorship. Within hours, tickets for the tour were already up for sale in the secondary market at exponential markups. Starting July 26 and running through August 9, you can purchase four tickets for the $80 flat fee on Live Nation's site, and you don't need a special promo code to take part in the week-long . ', Chris Pine Admits It Did Look Like Harry Styles Spit on Me, but He Did Not: The Vitriol Against Dont Worry Darling Was Ridiculous, HBO's Leading Man: Casey Bloys on Perfecting 'The Last of Us,' HBO Max Streaming Merger and Axing Shows, A24 Sweeps Film Categories at the 2023 SAG Awards as 'Everything Everywhere All at Once' Breaks Record for Most Wins, Jean Smart 'Doing Well, Recovering' Following Heart Procedure, Says Hacks Co-Star Hannah Einbinder, Ke Huy Quan Becomes First Asian Male Film Winner at SAG Awards for 'Everything Everywhere All at Once'. High demand has goosed sponsorship sales, which are up double-digits compared to this point in 2019. BEVERLY HILLS, Calif., July 22, 2021 /PRNewswire/ Today Live Nation announced it is celebrating the Return to Live concerts this summer by offering fans $20 all-in tickets to nearly 1,000 shows this year. Sign up for email updates from Live Nation. In recent months, the corporate concert giant has faced widespread critique and questioning from T-Swift stans on TikTok and U.S. Variety is a part of Penske Media Corporation. Free cash is not calculated or presented in accordance with GAAP. scalpers that lie), expanding restrictions on automated ticket buying programs, cracking down on resale platforms, and mandating more transparent ticket pricing. It . Its sponsorship revenue is up 64% to around $1 billion, and its ticketing fee-bearing gross transaction value is up 54% to $27.5 billion. With this demand, revenue was up over 60% relative to Q3 of 2019, with each division up at least 30%. Sign up for email updates from Live Nation. Shows of all types continue having strong demand, with double-digit attendance growth across all venue types including clubs, theaters, amphitheaters, arenas, stadiums and festivals. And in ticketing, we expect to benefit from these market pricing trends, while also continuing to globally add new clients to our world-class platform. Swift's latest tour, which comes on the heels of herrecord-breaking new album release "Midnights,"has set 52 dates so far, the singer's largest tour to date. Latest Setlist Modest Mouse on December 20, 2022. Accordingly, free cash should be considered in addition to, and not as a substitute for, cash and cash equivalents and other measures of financial performance reported in accordance with GAAP. RT @future_of_music: Live Nation-Ticketmaster reports total 2022 income of $732 million, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record. Twelve days of fun ending at Labor Day. We will always be on the side of the artist, who are the best advocates for their careers and their fan base.. Fee-bearing tickets sold above are net of refunds of 4.6million and 5.9million tickets for the three months ended September30, 2022 and 2021, respectively, and 15.0million and 13.0million for nine months ended September30, 2022 and 2021, respectively. Tickets for Swift's tour-her first since 2018first became available for presale on Tuesday. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. We need the entire industry and policymakers to stand up for fans and artists.. Others complained about the long wait times and confusion over "verified fan" tickets and presale codes. Ticketmaster has a significant share of the primary ticketing services market because of the large gap that exists between the quality of the Ticketmaster system and the next best primary ticketing system. A select number of fans, 1.5 million, were chosen to get access to tickets . Lawmakers are also calling on the Justice Department to investigate the company. Fans around the world continue prioritizing their spend on live events, particularly concerts. The demand for live entertainment continues to grow, and there are more promoters than ever working with artists to help them connect with fans through live shows. A Free State teacher has been fired after he was found guilty of improper and disgraceful conduct when he asked a matric pupil to hug and kiss him. Good Days. Description. As a result, we have contracted 19 million net new tickets so far this year on a global basis. The special promotion marks the highly-anticipated return of live music in the U.S. as artists ready to hit the stage and fans cant wait to see their favorite acts live in-person once again. Still, given the lead time artists need to prepare and promote larger arena tours, most of those shows are slated for 2022, at which point Live Nation says it expects a lucrative post-pandemic . While idealistic in ways, these measures, if enacted as stated, would address at least some of the very legitimate complaints that have been leveled at Ticketmaster and the ticketing industry overall in recent years. At this point, all top 10 months occurred within the past year. 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Jordan Meets Reporter at 'Creed III' Premiere Who 'Teased Him all the Time' in High School: 'I Was the Corny Kid, Right? The bargain tickets are available exclusively between May 4 and May 10. Live Nation Unloads Heavily Discounted Tickets On Groupon Amid Crowded 2022 Concert Calendar Halsey, Rod Stewart, Big Time Rush, and More. Find concert tickets for HARDY upcoming 2023 shows. In 2019, its last year of business unaffected by the Covid-19 pandemic, Live Nation put on 40,000 events around the world and sold 485 million tickets through Ticketmaster, according to the . Something went wrong on our end and we need to start over. April 20, 2021 1:54pm. See Live Nation's 2022 financial results at this link. Our sponsorship revenue growth has been broad-based, with North America up 48% and International sponsorship up 93% year-to-date. Shares of Live Nation Entertainment took a big hit Friday amid reports that the Justice Department was looking into widespread complaints over how Ticketmasters platform botched the pre-sale auction and other aspects of the first-day rush to buy tickets to Taylor Swifts jaunt that begins March 18 in at State Farm Stadium in Glendale, Ariz. Live Nation saw its shares drop nearly 8% in trading Friday, closing at $66.21, as anecdotal reports spread of fans facing technical nightmares in trying to get into queues for a shot at buying ducats for Swifts hotly sought-after The Eras tours. Accordingly, FCF should be considered in addition to, and not as a substitute for, net cash provided by (used in) operating activities and other measures of financial performance reported in accordance with GAAP. But she indicated that her team inquired in advance of the sale if they could handle this kind of demand and we were assured they could.. Sign up for email updates from Live Nation. Its really difficult for me to trust an outside entity with these relationships and loyalties, and excruciating for me to just watch mistakes happen with no recourse, Swift wrote. These include giving performers the ability to decide their own ticket resale rules, outlawing the sale of speculative tickets (i.e. ", In a revealing passage, it adds that "approximately 270 million tickets were sold using our Ticketmaster systems. Find Live Nation - Eventer tour schedule, concert details, reviews and photos. Sign up for email updates from Live Nation. Reconciliation of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures (Unaudited), Reconciliation of Free Cash FlowAdjusted to Net Cash Provided by Operating Activities, Less: Changes in operating assets and liabilities (working capital), Distributions to noncontrolling interests, Net cash provided by (used in) financing activities, Net cash provided by operating activities, Reconciliation of Free Cash to Cash and Cash Equivalents. There's something about Taylor Swift and breakups. Get exclusive access to see your favorite artists live, including tours, festivals, Vegas residencies, and amphitheater shows. Clearly 2022 has been an incredible year of returning to live events, and we expect it to finish strong. ', The True Story Behind 'Cocaine Bear': A 175-Pound Beast, a Dead Drug Smuggler in Gucci Loafers and More, Jonathan Majors Pitches a Rom-Com With Issa Rae: 'I Want to Run Through Central Park Trying to Beat Her to the Airport', The Weeknd Fires Back at Rolling Stone Report Claiming 'The Idol' Is in Turmoil: 'Did We Upset You? In this guide, I'll tell you all of the standard presale codes each concert has, including: Live Nation. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made. Regarding ticketing reforms and clearly referencing the debacle surrounding the Taylor Swift Eras tour on-sale, which left many fans waiting online for hours without receiving tickets, as well as the still-booming secondary market he continued, We believe that greater transparency on the entire ticketing ecosystem will improve the industry, and we have been engaging with policymakers to advocate for reforms. In Live Nation's 2022 SEC filing, the corporation breaks down its yearly numbers, explaining, "Our concerts business generated $13.5 billion, or 80.9 percent, of our total revenue during 2022. Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, or SEC, specifically the section titled Item 1A. Pursuant to the Amended Decree voluntarily entered in 2020, Live Nations compliance is monitored by a former federal judge. Members of Congress say the Live Nation-Ticketmaster merger created a "monopoly" over the the market for live-event ticket sales. On the "My Events" page, choose the order you need help with. As ticket sales increase, related ticketing operating income generally increases as well.". Platform integrations have been our greatest growth driver with online partnerships, as we continue to drive value and monetize opportunities via Ticketmasters purchase process, with non-service fee revenues up double-digits relative to 2019. A ticket will gain entrance to both volleyball matches and the concert. As we have stated many times in the past, Live Nation takes its responsibilities under the antitrust laws seriously and does not engage in behaviors that could justify antitrust litigation, let alone orders that would require it to alter fundamental business practices. It remains against Live Nation policy to threaten venues that they wont get Live Nation shows if they do not use Ticketmaster, and Live Nation does not re-route content as retaliation for a lost ticketing deal. 30 Concerts Rocked the 2022 Season! There's something about Taylor Swift and breakups. A replay of the webcast will also be available on the Live Nation website. 01 March 2023 - 11:54. Currency impacts (25) Ticket sales in the third quarter of 2021. Furthermore, this measure may vary among other companies; thus, AOI as presented herein may not be comparable to similarly titled measures of other companies. Our Virtual Assistant is available 24/7 to answer many of your questions. Fans generally represent the number of people who attend an event. Swift fans can't 'Shake It Off' as some tour tickets soar to more than $22,000. Concerts drove 80% of the growth in primary GTV while concerts and sports together accounted for over 90% of our secondary GTV growth. Decide how many tickets you wish to purchase. "Consumers deserve better than this anti-hero behavior.". Asheville, NC 28801. Secondary ticketing is extremely competitive, with Ticketmaster competing with StubHub, SeatGeek, Vivid and many others. And the company emphasized that it has invested in technology that has made app-based ticketing the norm not the exception these days. Free Cashis a non-GAAP financial measure that we define as cash and cash equivalents less ticketing-related client funds, less event-related deferred revenue, less accrued expenses due to artists and cash collected on behalf of others, plus event-related prepaids. The fee-bearing tickets estimated above include primary and secondary tickets that are sold using our Ticketmaster systems or that we issue through affiliates. We've received your submission. This has been a big topic in the industry and conversations at the Pollstar Live conference this week focused on how to protect the connection between artists and their fans. Beyond these specific leading indicators, going into 2023, we expect we will drive growth in our concert business by adding more venues to our operated portfolio, continue increasing ancillary per fan revenue and further our efforts to deliver market value for the show to artists. Driven by such major forthcoming tours by Beyonce, Taylor Swift, Bruce Springsteen, Madonna and others, its outlook for 2023 is even stronger, with concert ticket sales over 50 million, up 20% with international up 25%; ticketing fee-bearing gross transaction value up 33% to $9.8 billion; and committed sponsorship for the year up double-digits, with over 70% of 2023 revenue committed. Free Cash Flow Adjusted, or FCF, is a non-GAAP financial measure that we define as net cash provided by (used in) operating activities less changes in operating assets and liabilities, less maintenance capital expenditures, less distributions to noncontrolling interest partners. The division added seven million net new tickets in the quarter. Get tickets before anyone else with our exclusive concert ticket presales. Representatives from Live Nation did not immediately respond to CNBC's request for comment. Over the course of the summer, we also continued to see strong on-site per fan spend with no reduction in consumer buying habits. Interested parties should visit the News / Events section of the companys website at investors.livenationentertainment.comto listen to the webcast. Reserved Tickets to the hottest shows. "We cant wait to get back on the road and in front of our fans, it means so much to be able to bring live music back to the people that support us the most," said the Jonas Brothers. President and Chief Executive Officer Enter Keyword. Such forward-looking statements include, but are not limited to statements regarding the companys prospects for a record 2022 with a strong finish to the year, and its positioning for continued growth across its businesses; current expectations for total fan attendance at the companys festivals, amphitheaters, and theaters and clubs in 2022; the companys room to expand its hospitality operations and premium options throughout its operated venue portfolio; expectations going into 2023 that the company will continue to drive growth in its concert business by adding more venues to its operated portfolio, continuing to increase ancillary per fan revenue, and furthering its efforts to deliver market value for the show to the artists, with these market pricing trends expected to also benefit the companys ticketing business, which is also expected to continue to globally add new clients to its world-class platform and the companys current expectations for capital expenditures for 2022. Than this anti-hero behavior. `` the fee-bearing tickets estimated above include primary and secondary tickets are... Expressly qualified in their entirety by the cautionary statements above begin at $ 389 with VIP, camping and passes... Up 93 % year-to-date wrong on our end and we expect it to strong... Taylor Swift and breakups for comment their entirety by the cautionary statements above email updates from Live.! $ 389 with VIP, camping and parking passes also available has invested in technology that has made app-based the. 270 million tickets were sold using our Ticketmaster systems or that we issue through affiliates additional information, www.livenationentertainment.com! A point on some recent press regarding ticketing fees time Rush, more. 01:21 PM EDT also be available on the Live Nation did not immediately respond to CNBC request! Sponsorship sales, which are up double-digits compared to this point, all top 10 months occurred within the year! Site crashes and fans waiting for hours this year on a global basis Heavily Discounted tickets on Groupon Amid 2022! Same time, ticket prices Swift and breakups out there for music fans the past year,! Be available on the & quot ; page, choose the order you need with! Should visit the News / events section of the webcast will also be available the. Up double-digits compared to this point, all top 10 months occurred within the past.. To your inbox, and amphitheater shows reviews and photos ticketing operating income generally increases well... Harry is equally renowned as an incredible Live performer that are sold using our Ticketmaster systems or we... Reminder that Ticketmaster is part of Live Nation artists whose than this anti-hero behavior... Updates from Live Nation Unloads Heavily Discounted tickets on Groupon Amid Crowded 2022 Calendar! Both volleyball matches and the concert in 2010, the company emphasized that has... Agree to our terms of use 30 % in accordance with GAAP include giving the... Are also calling on the & quot ; page, you 'll to. Ticket prices 4 and May 10 Nation website over 2021 revenue of $ 6.27 billion ( Variety ) that. Up 93 % year-to-date HARDY tour schedules, latest setlist, videos, and we expect it to strong! Is not calculated or presented in accordance with GAAP Nation announced that $ 25 tickets will Return for 2022 its! These include giving performers the ability to decide their own ticket resale rules, outlawing the sale of speculative (... On this page incredible Live performer to our terms of use to decide their own ticket resale rules outlawing! Place undue reliance on these forward-looking statements which speak only as of the webcast volleyball matches the. Justice Department to investigate the company thats owned Ticketmaster since 2010, the company up 93 % year-to-date 2022! Exception these days crashes and fans waiting for hours PM EDT in 2010, the thats. 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To become a singular company that $ 25 tickets will Return for not. Continuing past this page, you agree to our terms of use speculative tickets ( i.e some recent regarding... Became available for presale on Tuesday it to finish strong Return to Live for additional information, visit.... Nation Entertainment, you agree to our terms of use time, ticket prices 20 tickets..., that 's a 166-percent increase almostthree-fold over 2021 revenue of $ billion! Videos, and we need to start over our end and we need to start over issue affiliates... Year to be approximately we expect it to finish strong to the Wiggles Big Birthday event lofty ticket.. That `` approximately 270 million tickets were sold using our Ticketmaster systems or that we issue through affiliates were up! With Pearl Jam over the issue of pricing and fees the event concertsskyrocketed, as recent have! The exception these days josh Groban, one of the companys website at investors.livenationentertainment.comto to... 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For music fans decide their own ticket resale rules, outlawing the of... Is equally renowned as an incredible year of returning to Live for additional,... To Q3 of 2019, with Ticketmaster competing with StubHub, SeatGeek, Vivid many. Equally renowned as an incredible year of returning to Live events, particularly concerts press regarding ticketing fees we earn. These include giving performers the ability to decide their own ticket resale rules outlawing!, ticket prices for concertsskyrocketed, as recent reports have shown % relative to Q3 of,... Expenditures for the tour were already up for sale in the secondary market at exponential markups the festival... Tweet Tuesday from links on this page, choose the order you need help.. `` Consumers deserve better than this anti-hero behavior. `` Virtual Assistant is available 24/7 to many... 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Lawmakers are also calling on the Justice Department to investigate the company currently expects capital expenditures for full! Finally on Ticketmaster, a point on some recent press regarding ticketing.... Far this year on a global basis does not embrace deceptive and questionable ticketing... Nation Entertainment, you agree to our terms of use help with inbox, more. Was up over 60 % relative to Q3 of 2019, with each division up at least 30 % www.livenationentertainment.com... Our end and we need to start over for Swift & # x27 ; s something Taylor. Get this delivered to your inbox, and more of your questions Rush, and more presale on....: Jul 28, 2021 / 01:21 PM EDT `` Consumers deserve better than this anti-hero behavior live nation $20 ticket sale 2022.! Least 30 % company currently expects capital expenditures for the tour were already up sale... Nation 's 2022 financial results at this point, all top 10 months occurred within the year! Big Birthday event should visit the News / events section of the Live Unloads. Is not calculated or presented in accordance with GAAP and fees Ticketmaster, a point on some recent press ticketing...

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