LYV Reports Robust YE, Q4 Results

Live Nation Entertainment released 2016 fourth-quarter and year-end financial results Feb. 23, on the heels of the company’s shares passing the $30/per threshold for the first time, announcing growth at “historic levels” with revenue up 15 percent to $8.4 billion.  

– Live Nation

The company posted its sixth consecutive year of record results, according to a statement, with adjusted operating income up 48 percent to $195 million, concert attendance up 12 percent to 71 million, and sponsorships and advertising revue up 13 percent.

Notably, Live Nation says it added more than 7 million fans globally in 2016, which helped drive revenue and operating income up, as did an average ticket price increase of about 5 percent, “with high single- to double-digit growth at amphitheaters, arenas and stadiums.” Per-head fan spending also increased 9 percent to more than $22 per fan with an increase of high-end products, improved concessions and increased points of sale. 
As for Ticketmaster, its overall gross transaction value, or GTV, increased 11 percent to $28 billion as it delivered 480 million ticket transactions across 28 countries. 
Secondary ticketing GTV grew 26 percent in 2016, “driven by the premise that we should safely and transparently provide all options to fans at Ticketmaster, which ash been embraced by ticket buyers,” Live Nation President/CEO Michael Rapino said.
“Our success in 2016 reaffirms that Live Nation has created an unparalleled live platform, bringing 550 million fans in 40 countries to those unrivaled 2-hour events each year. The live business continues to have a strong growth opportunity with artists touring as their primary source of income and using concerts as the best way to engage and connect with their fans,” Rapino said.
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