Live Nation Revenues Hit $7B In Q2, Stays On Track For Strong Year

Live Nation reported second quarter revenues of $7 billion Aug. 7, a 16% increase from the same quarter last year, with the company expecting continued growth throughout 2025.

The revenue number was a slight beat; the analysts’ consensus was pegged at $6.78 billion.

On the bottom line, the company reported operating income of $486.7 million. EPS of 41 cents was a miss; analysts had expected $1.02, similar to the second quarter of 2024.

Still, the strong revenues, particularly in concerts and with strong expectations downstream, Live Nation — often viewed by the Street as an indicator of consumer sentiment due to the reliance on discretionary spending for its earnings — shows that whatever their concerns, people are still willing to spend for shows.

“Global expansion continues to drive touring growth, with fan attendance hitting new highs and ticket buying strong at every price point from VIP to the back row. To meet this momentum, we’re expanding our global venue portfolio and investing in the artists who make it all possible,” Michael Rapino, LN president and CEO, said. “We’re continuing to deliver record revenue and concert ticket sales, and with investments focused on high growth markets and fan experiences, we’re positioned to grow operating income and adjusted operating income by double-digits this year and for years to come.” 

In the concerts sector, Live Nation reported revenue of nearly $5.95 billion, a record for the quarter and up 19% against the same quarter last year. Margins of 6% are up 60 basis points.   Global stadium fan count tripled against Q2 2024, while international arenas were up 20% Overall, fan count in international markets was up 30% driven by deep growth in Europe, Asia-Pacific and Latin America, helping to drive a global increase of 14% to 44 million.

Demand remains strong: “Ticket To Summer” sales were consistent with years past and more than 40% of global stadium shows sold out 95% of tickets in the first week, a double-digit increase from last year.

Ticketmaster’s revenue for Q2 came in at $743 million, up a meager 2% year-over-year, selling 83 million fee-bearing tickets, up 4%. Similar to the pattern that began in Q1, concert ticket volume increased by “high single digits,” while ticket demand for sporting events have weakened.

Sponsorships continued to be a growth sector for Live Nation, hitting $341 million, a strong 9% growth over 2024. 

On the venue side, on-site spend is up double-digits in large amphitheaters and Live Nation anticipates it will bring 10 3,000-cap-plus venues online in 2026 and that double-digit increases will continue in on-site spending at revamped amps.

Going forward, Live Nation says the deferred revenue number continues to indicate a strong ’25, particularly with consistent growth in international markets. Large venue shows are “nearly” booked completely for the rest of the year. Concert event-related deferred revenue is at $5.1 billion, up 25%, with Ticketmaster’s deferred revenues are at $317 million, up 22% from 2024, primarily driven by Live Nation concerts.

The company expects to spend $900 million to $1 billion on capital expenditure by year’s end.