Live Nation Reports $11.5 Billion In Revenue For 2019, Growth In All Segments

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Live Nation Entertainment reports revenue for calendar year 2019 rose 7% to $11.5 billion while operating income is up 19% to $325 million in financial reports released Feb. 27. The rosy numbers come as the markets are rocked by investor fears over the coronavirus outbreak that has spread beyond Asia and caused stock prices to sink like a proverbial stone.

But sudden stock price fluctuations can be notoriously short-lived and, at least through the end of 2019, Live Nation continues to hum along like a well-oiled machine.

Some 98 million fans spun Live Nation turnstyles for an increase in concert attendance of 5%, sponsorship and advertising revenue rose 17 percent and, at least as of mid-February, the company is posed for another year of increases with 38 million concert tickets sold to date for 2020 events and a confirmed show count up 30% from the same time last year.

The results represent the ninth consecutive year of growth for Live Nation, which also added 38 new venues in 2019, including six new festivals and 18 theaters and clubs.

The company also reports average ticket prices at arenas and sheds rose “double-digits” since 2017, while sales of dynamically priced Platinum tickets were up 66% for the year. Live Nation President/CEO Michael Rapino states that “concerts remain a great deal for fans relative to other live experiences – our average ticket for a concert at one of our amphitheaters was $46 in 2019 relative to about $75 for an NBA game and over $100 for an NFL game.”

Along with spending more on tickets, fans spent more on goodies once inside venues, as well. Live Nation reports the average per-fan spending grew by $2.50 to more than $29 each, thanks to a combination of “improved product offering, reduced friction with shorter lines, and improved VIP hospitality offerings,” Rapino said in a statement.

“Fans continue to find the live experience, from club shows to arenas to festivals, a top entertainment choice and the best way to celebrate their favorite artists and share the experience with other fans,” Rapino said.

On a day the New York Stock Exchange dropped nearly 1,200 points, LYV posted a closing share price of $57.75. In after-hours trading after the 2019 full year and fourth quarter reports were released, shares rose 2.16% to $59.00.