Live Nation Reports Double Digit Growth in First Half of the Year
Live Nation released their financial report and all we can do is to congratulate them. They revealed double-digit growth in operating income and adjusted operating income in its second quarter 2018.
Their impressive growth rise is mainly due to producing the hottest tours recently including superstars like Taylor Swift, Keney Chesney, Andrea Bocelli, The Eagles, Ed Sheeran, Maroon 5 and many more. The company’s increased income amounted to $135 million which is 19% rise in the last quarter while the revenue reached almost $2.9 billion through concerts, sponsorships and advertising.
“We have built the industry’s most scalable and unparalleled live platform, bringing over 550 million fans in 40 countries to live events each year,” said Live Nation President Michael Rapino in a release.
“With our key metrics in concerts, sponsorship and ticketing all pacing ahead of last year, we are confident that in 2018 we will again deliver double-digit operating income and AOI growth for the company.” He added.
Since its inception in 1996, Live Nation has built success around consolidating concert promoters and producers in a national company. In 2000, Clear Channel Entertainment bough them and they operated under that name until 2005 when they became Live Nation. Last year they reported $30 billion in gross revenue, hosted over 86 million on-site consumers at its events and invested $5.6 billion to put on these events. Each year they produce over 29,500 events in 40 countries and they are currently constructing a physical recording label, Live Nation Artists, and hope to sigh Madonna, Shakira and Nickleback.
In 2008, Live Nation signed a 12-year deal with U2, worth an estimated $100 million, which includes Live Nation controlling their official website, sponsoring, merchandise and touring. U2 is currently on the sequel of their extensive Innocence + Experience Tour from 2015 and all that just after wrapping up their Joshua Tree 2017 Tour, which ended up earning $316 million for just 51 shows.
The Innocence + Experience tour is relying heavily on U2’s last two albums including their December album Songs of Experience, featuring their previously released tracks “You’re the Best Thing about Me” and “The Blackout”. Tickets for all U2 performances can be found here.
U2 Innocence + Experience Tour
Show Date and Time: Saturday, 8 September, 8pm
Show Location: AccorHotels Arena, Paris 12, VP
Show Duration: two and a half hours
