Joe GallopThe world’s largest concert promoter, Live Nation Entertainment (LNE), has reported its biggest year ever in 2023, in terms of both attendance and ticket sales.
The promoter said concert attendance was up by 20% compared to 2022, with more than 145 million fans attending more than 50,000 events. LNE’s ticketing company Ticketmaster sold 620m tickets, up 13% compared to 2022.
The company’s revenue was up 36% to $22.7 billion; its operating income went up 46% to $1.07bn; while its sponsorship revenue went up 13% to $1.07bn.
LNE also said it saw 50% more international acts in top 50 tours and tours having 15% more shows on average, both compared to five years ago.
LNE president and CEO Michael Rapino (pictured) 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. At the same time, the industry is delivering a wider variety of concerts which draws in new audiences, and developing more venues to support a larger show pipeline.
“Against this backdrop, we expect all our businesses to continue growing and adding value to artists and fans as we deliver double-digit operating income and AOI growth again this year, with our profitability compounding by double-digits over the next several years.”