Live Nation’s 2022 revenue increased by approximately 166% compared to its 2021 revenue, according to the live events conglomerate’s newly reported annual revenue. Early numbers indicated huge jumps.
At the same time, ticket prices for concertgoers have also increased, as recent reports show.
Live Nation, which includes ticket retailer Ticketmaster, reported fourth-quarter earnings on Thursday (February 23), showing that total revenue for 2022 hit a record $16.7 billion. billboard.
In fact, this is a 166% increase from $6.27 billion in revenue in 2021, almost tripling (variety). That’s a 44% increase from his pre-pandemic 2019 earnings of $11.55 billion, a figure Live Nation touted to investors this week. The slow restart of the 2021 show made the difference in the 2022 turnout.
Concert ticket prices on the rise
Ticketmaster has long been the home of concert ticket sales in the United States. In 2010, the retailer merged with promoter Live Nation to become a single company.
Last year, a group of US concertgoers sued Live Nation Entertainment (the company that encompasses both companies) for violating antitrust laws and using what they called “predatory” sales.
But the concert giant triumphed when a court ruled that the buyer waived its right to sue in favor of arbitration pursuant to the terms of the company’s contract.
Live Nation Record 2022 Earnings
In Live Nation’s 2022 SEC filing, the company broke down its annual figures, stating, “In 2022, the concert business generated $13.5 billion, representing 80.9% of total revenue. In 2022, more than 43,600 We promoted live music and other events.”
The obvious passage states, “Approximately 270 million tickets have been sold using our Ticketmaster system. ”
Check out Live Nation’s 2022 financial results at this link. The company’s 2022 FEC filings can be found here. See 2021 numbers at this link.
Artists who did their best to combat despicable concert ticket practices