its end-of-year report yesterday (February 22). It stated that live music soared worldwide over those 12 months “from clubs to stadiums”, with 145million fans attending over 50,000 events (up 20 per cent from 2022).Ticketmaster sold 620million tickets, a 13 per cent increase from the previous year.
Its revenue increased by 32 per cent to nearly $3billion.Live Nation’s total revenue jumped 36 per cent to $22.7billion during a year that saw huge record-breaking tours from Taylor Swift and Beyoncé.
The firm’s operation income, meanwhile, went up by 46 per cent to $1.07billion.There were 50 per cent more international acts, with tours having 15 per cent more shows on average (both compared to five years ago before COVID brought the live industry to a halt).Live Nation’s investment in artists increased by over 40 per cent to over $13billion, “promoting more artists at every level from clubs to stadiums, with nearly 7,000 touring artists in 40+ countries”.Michael Rapino, President and CEO, Live Nation Entertainment, said: “The live music industry reached new heights in 2023, and demand for live music continues to build.“Our digital world empowers artists to develop global followings, while inspiring fans to crave in-person experiences more than ever.
Read more on nme.com
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