The company said it registered roughly 11 million fans attending shows in the quarter, down from 15 million in the first quarter of 2019, which the company said was its most comparable period since the pandemic. scalpers that lie), expanding restrictions on automated ticket buying programs, cracking down on resale platforms, and mandating more transparent ticket pricing. This includes primary tickets sold during the year regardless of event timing, except for our own events where our concert promoters control ticketing which are reported when the events occur. This demand remained strong throughout the quarter, as two of the three months were amongst the top 10 transacted GTV (excluding refunds) months ever. This story has been shared 106,884 times. A limitation of the use of free cash as a performance measure is that it does not necessarily represent funds available from operations and it is not necessarily a measure of our ability to fund our cash needs. As Live Nation's . BEVERLY HILLS, Calif., July 22, 2021 /PRNewswire/ Today Live Nation announced it is celebrating the Return to Live concerts this summer by offering fans $20 all-in tickets to nearly 1,000 shows this year. Simply apply Live Nation promo codes to your ticket order for instant gratification. Buy Live Nation - Eventer tickets from the official Ticketmaster.com site. Free Cashis a non-GAAP financial measure that we define as cash and cash equivalents less ticketing-related client funds, less event-related deferred revenue, less accrued expenses due to artists and cash collected on behalf of others, plus event-related prepaids. Ancillary per fan spending was up 20 to 30% year-to-date relative to 2019 in our operated venues across the U.S. and Europe. There never has been and is not now any evidence of systemic violations of the Consent Decree. Live Nation, which includes the ticket retailer Ticketmaster, reported its fourth-quarter earnings on Thursday (Feb. 23), showing its total 2022 revenue reached a record $16.7 billion, according toBillboard. Addressing the monopoly accusations around the company, he added, On the regulatory front: The ticketing industry is more competitive than ever, and our market share has gone down, not up, since the Ticketmaster merger. The highly public Swift debacle appears to have come as the Justice Department was already beginning to probe whether Live Nation has too much control of the live music marketplace given its prominence as a promoter of events and its dominance of ticketing via Ticketmaster. There's something about Taylor Swift and breakups. Discount. Find P!NK tickets on Australia | Videos, biography, tour dates, performance times. The Department of Justice can reverse this merger and bring competition back to the industry. Yes, I want to receive email updates from Live . By continuing past this page, you agree to our terms of use. I Hate U. Ticketmaster is pulling the plug on the general-public ticket sale for Taylor Swift's "Eras" tour that was set to . Ticketmaster Cancels Sale of Taylor Swift Tickets. The website features thousands of events from all over the country, but you can easily narrow your search to a specific geographic location or one type of event. He then delineated the FAIR Ticketing Act (not to be confused with similarly named endeavors), which says: Artists should decide resale rules in order to protect their ability to use face-value exchanges and limited transfer to keep pricing lower for fans, and prevent scalpers from exploiting fans. A replay of the webcast will also be available on the Live Nation website. Live Nation Entertainment, Inc. (NYSE: LYV) is the worlds leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. Concerts drove 80% of the growth in primary GTV while concerts and sports together accounted for over 90% of our secondary GTV growth. Followers will get the most recent presale codes the day they go live. Email. We will continue to advocate for fee transparency in live event ticketing. The $20 tickets will be available to the general public starting next Wednesday, July 28th at 12pm ET/9am PT on LiveNation.com for a limited time only, while supplies last. Live Nation Entertainment, the parent company of Ticketmaster, is the focus of an antitrust investigation that predates the Taylor Swift . Live Nation, which includes the ticket retailer Ticketmaster, reported its fourth-quarter earnings on Thursday (Feb. 23), showing its total 2022 revenue reached a record $16.7 billion, according . Ticketmaster has a significant share of the primary ticketing services market because of the large gap that exists between the quality of the Ticketmaster system and the next best primary ticketing system. Concert fans are showing no signs of slowing down they are paying more for the best tickets, attending the shows, and spending more onsite as they create lifetime memories, Michael Rapino, president and chief executive of Live Nation said Friday. The Ticketmaster and Roc Nation owner posted a fourth quarter operating loss of $119.9 million, compared to a year-earlier operating loss of $124.5 million. 1 Personalized pass that acts as your ticket to the Allegiant.com lawn for Ruoff Music Center's 2023 season* . 2023 Variety Media, LLC. Ticketmaster said that over 2 million tickets were sold in a single day for Swift's tour, and "90% fewer tickets are currently posted for resale on secondary markets than a typical on sale." FCF is not calculated or presented in accordance with GAAP. President and Chief Executive Officer Democrats in the US . The market is increasingly competitive nonetheless, with rivals making aggressive offers to venues. Finally on Ticketmaster, a point on some recent press regarding ticketing fees. The market is increasingly competitive nonetheless, with rivals making aggressive offers to venues. VIRGINIA BEACH (WAVY) You can go see several major music acts at the Virginia Beach amphitheater and across the U.S. this summer and fall for just $20. Shows of all types continue having strong demand, with double-digit attendance growth across all venue types including clubs, theaters, amphitheaters, arenas, stadiums and festivals. 2023 CNBC LLC. This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. A reconciliation of each such measure to its most directly comparable GAAP financial measure, together with an explanation of why management believes that these non-GAAP financial measures provide useful information to investors, is provided herein. Book online, view seating plans. Sign up for email updates from Live Nation. If you don't have an account, you'll be prompted to create one. Activists have accused Ticketmaster and Live Nation of abusing their market power and called for the company to be broken up. Finding codes to buy early concert tickets should be easy! Events generally represent a single performance by an artist. Some of these events require nothing more than a password that is given to you during the email alert, so you get your tickets before the general public. Live Nation, which merged with Ticketmaster in 2010, has faced longstanding criticisms about its size and power in the entertainment industry. Since Ticketmaster is part of Live Nation Entertainment, you'll go to the Ticketmaster website to complete your purchase. Number of shows for 2022 not representative of 2023 season. Swift did not call out Live Nation or Ticketmaster by name. Klobuchars and Lees appeal to the DOJ was sent the same day as Live Nations policy proposal. ", record-breaking new album release "Midnights,". Tickets will be $25 for adults and $5 for high school age and under. Despite varying economic headwinds including inflation, we have not seen any pullback in demand, as on-sales, on-site spending, advertising and all other operating metrics continue showing strong year-on-year growth. For the past 12 years Live Nation has operated under a Consent Decree that among other things seeks to prevent anticompetitive leveraging of Live Nation promoted content to advantage Ticketmaster. Service 41. 10. Interested parties should visit the News / Events section of the companys website at investors.livenationentertainment.comto listen to the webcast. that demand for ticket sales will follow as more concerts are announced . Forward-Looking Statements, Non-GAAP Financial Measures and Reconciliations: Certain statements in this press release, including the Supplemental Information that follows, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, or SEC, specifically the section titled Item 1A. "Its merger with LiveNation should never have been approved, and they need to be reigned in. Live Nation Entertainment, Inc. Use " SOUND " or " CHORUS ". Search for Events by Keyword. The company was forced to extend presales after fans flocked to the site, causing site disruptions and slow queues. Stadiums had a particularly strong quarter with our fan count more than tripling to nearly nine million fans, driven by the global demand to see top acts across a number of genres and audiences such as Bad Bunny, The Weeknd and Red Hot Chili Peppers. Getty Images. Ticket sales for shows in 2023 are pacing even stronger than they were heading into 2022, up double-digits year-over-year, excluding sales from rescheduled shows. $ 2,018.3. Michael Rapino Enjoy 10% Off Your Ticket Purchase To The Wiggles Big Birthday Event. The firm said today the coronavirus is having less of an impact on planned events, noting that it only canceled about 1% of planned concerts in March. 2. . A limitation of the use of AOI as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. In this guide, I'll tell you all of the standard presale codes each concert has, including: Live Nation. Indeed, that's a 166-percent increase almostthree-fold over 2021 revenue of $6.27 billion (Variety). Teenage Cybercrime Gang LAPSUS$ Strikes Again, The 2023 Complete Python Certification Bootcamp Bundle, Time to Tackle the Taylor Swift Ticketmaster Turmoil | TechModo. Reserved Tickets to the hottest shows. As we expected, our performance this quarter was led by our concert business, which held 11 thousand concerts for 44 million fans across nearly 50 countries. The consistent theme is that fans are eager to enhance their experience, as we continue elevating our hospitality operations and provide more premium options. Yes, I want to receive email updates from . Reconciliation of Adjusted Operating Income (Loss) to Operating Income (Loss) (Unaudited), Amortization of non-recoupable ticketing contract Ticketmaster and Live Nation have been accused of abusing their market power by hiking up ticket prices and adding arbitrary fees to purchases. Along with these results for the year, we signed 23 million net new tickets in 2022, 70% of which were with international clients, setting the stage for continued global growth.. Find Australia and international concert tickets, tour dates, seating maps and show information on LiveNation.com.au, the world's largest concert search engine. Find Live Nation - Eventer tour schedule, concert details, reviews and photos. Fans generally represent the number of people who attend an event. The biggest challenge facing the industry is chaos at the onsale, where fans cannot get the tickets at the price the artist sets, yet they see pages of secondary sites with tickets 5 times face value because of scalpers. As a result, we generated over $5 billion of revenue and $281 million of AOI for the quarter, up 67% and 44% respectively, relative to Q3 2019. There's something about Taylor Swift and breakups. Tickets for Swift's tour-her first since 2018first became available for presale on Tuesday. We will always be on the side of the artist, who are the best advocates for their careers and their fan base.. 1 Personalized pass that acts as your ticket to the Allegiant.com lawn for Blossom Music Center's 2023 season*. Such forward-looking statements include, but are not limited to statements regarding the companys prospects for a record 2022 with a strong finish to the year, and its positioning for continued growth across its businesses; current expectations for total fan attendance at the companys festivals, amphitheaters, and theaters and clubs in 2022; the companys room to expand its hospitality operations and premium options throughout its operated venue portfolio; expectations going into 2023 that the company will continue to drive growth in its concert business by adding more venues to its operated portfolio, continuing to increase ancillary per fan revenue, and furthering its efforts to deliver market value for the show to the artists, with these market pricing trends expected to also benefit the companys ticketing business, which is also expected to continue to globally add new clients to its world-class platform and the companys current expectations for capital expenditures for 2022. 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