Live Nation Posts Record $6 Billion in Revenue for Second Quarter, Although Astroworld Settlements Reach $280 Million
variety.comJem Aswad Executive Editor, Music Not surprisingly, Live Nation is posting another record quarter in Q2 2024, with revenue up 7% over Q2 2023 to more than $6 billion, operating income up 21% to $466 million and 39 million fans globally at its concerts, up 5% with double-digit growth at the company’s arenas and amphitheaters.
Its Ticketmaster division has sold 183 million fee-bearing tickets sold year-to-date, up 3% despite reduced stadium activity, and onsite sponsorship from its operated venues and festivals is up 28% year-to-date.
Those numbers take place against the backdrop of the Department of Justice’s ongoing antitrust lawsuit against the company as well as the ongoing settlements stemmingfrom Travis Scott’s 2021 Astroworld festival, in which 10 people were killed when the crowd surged during his set.
The company’s earnings report notes that additional $94 million in accruals related to the Astroworld litigation, expected to represent remaining settlements, was recognized in Q2 for a total of $280 million this year.
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