Live Nation’s stock price closed at $101.03 (£74.35) yesterday, a new high and valuing the company at about $25.2bn (£18.55bn).
The company’s all-time high stock price comes after a year of growth, with the concert and festival giant’s share price being up 78% from $56.83 (£41.82) at the same point last year, and up 212% on a pandemic low in March 2020.
The continued rise in value of the world’s biggest live music promoter suggests growing confidence in the live music industry ahead of what is set to be an extremely busy year for major events.
When announcing its Q2 financial results, the promoter said festivals selling out in record time, an average ticket price rise of 10%, and huge sales for 2022 events had helped boost its earnings.
Last month, Live Nation announced it would acquire a controlling interest in OCESA Entretenimiento, a leading promoter in Latin America and owner of Ticketmaster Mexico, for approximately $444m (£327m).
On 5 October the promoter said it had elected Latriece Watkins to its board of directors. Watkins currently serves as executive vice president of Walmart’s US consumables division.