Live Nation has, once again, reported record revenue as they reveal the financial report from the first quarter of 2023, including a 73% increase in revenue.
The overall fan count has also increased by 79% to over 19 million fans attending their concerts and events.
The company partially attributes this to a strong return to live music in all markets as, for the first time in three years, many of their international markets are open post-COVID.
Live Nation reported shows in over 45 countries in the first quarter, selling over 145 million tickets worldwide.
The revenue rose to $3.1 billion, a 73% increase in this quarter.
There are three clear sections indicated on their financial statements: concerts—which are straight ticket sales; ticketing which comes from Ticketmaster purchases; and sponsorships and advertisements.
But not all revenue came from ticket sales as they also launched Vibee, a destination event brand that provides hospitality packages alongside prominent live music events. This includes international events like Tiësto in Cabo and domestic packages like the new Hotel EDC offerings.
You can check out Live Nation’s financial report for the first quarter of 2023 here.
All images from Live Nation
