Ticketmaster also does not embrace deceptive and questionable secondary ticketing practices prevalent on rival sites such as speculative ticketing. Amid increased awareness of eye-watering $1,000+ ticket prices, and after a couple of high profile sale flubs, in which would-be customers were unable to access tix and Ticketmaster hawked fake Bad Bunny passes, Live Nation has become the subject of multiple state investigations and a Department of Justice probe. Sign up for email updates from Live Nation. His Love On Tour shows were postponed due to the pandemic and finally started in September 2021 in Las Vegas. Live Nation saw its shares drop nearly 8% in trading Friday, closing at $66.21, as anecdotal reports spread of fans facing technical nightmares in trying to get into queues for a shot at buying . 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. 40 Concerts Rocked the 2022 Season! Yes, I want to receive email updates . There's something about Taylor Swift and breakups. Live Nation is sweetening the deal for some fans, selling $20 tickets for 1,000 upcoming shows across the U.S., the major concert promoter announced Thursday. Ticketmasters advance pre-sale registration system was so overloaded as to malfunction. UPDATED: Parent firm's lengthy statement asserts Ticketmaster 'invests in technology' and 'does not set or control ticket prices'. At this point, all top 10 months occurred within the past year. That dynamic has not changed. We delivered double-digit attendance growth relative to Q3 2019 across established and emerging markets around the globe from North America to Europe to South America, showing our long runway of global growth. Accordingly, AOI should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Accordingly, FCF should be considered in addition to, and not as a substitute for, net cash provided by (used in) operating activities and other measures of financial performance reported in accordance with GAAP. Klobuchars and Lees appeal to the DOJ was sent the same day as Live Nations policy proposal. Last year, a group of U.S. concertgoers sued Live Nation Entertainment the corporation envelopingboth companies for allegedly violating antitrust laws and using what they called "predatory" selling. See the2021 numbersat this link. Fee-bearing tickets sold above are net of refunds of 4.6million and 5.9million tickets for the three months ended September30, 2022 and 2021, respectively, and 15.0million and 13.0million for nine months ended September30, 2022 and 2021, respectively. See full list below. ', Chris Pine Admits It Did Look Like Harry Styles Spit on Me, but He Did Not: The Vitriol Against Dont Worry Darling Was Ridiculous, HBO's Leading Man: Casey Bloys on Perfecting 'The Last of Us,' HBO Max Streaming Merger and Axing Shows, A24 Sweeps Film Categories at the 2023 SAG Awards as 'Everything Everywhere All at Once' Breaks Record for Most Wins, Jean Smart 'Doing Well, Recovering' Following Heart Procedure, Says Hacks Co-Star Hannah Einbinder, Ke Huy Quan Becomes First Asian Male Film Winner at SAG Awards for 'Everything Everywhere All at Once'. Democrats in the US . 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. Live Nation Premium Tickets; Live Nation Productions; Veeps; Company. 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. As we have stated many times in the past, Live Nation takes its responsibilities under the antitrust laws seriously and does not engage in behaviors that could justify antitrust litigation, let alone orders that would require it to alter fundamental business practices. 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. As Live Nation's . Live Nation increased its revenue in 2022 by roughly 166 percent over its 2021 revenue,as the live event conglomerate's newly reported yearly earnings reveal. Get this delivered to your inbox, and more info about our products and services. A ticket will gain entrance to both volleyball matches and the concert. Get tickets before anyone else with our exclusive concert ticket presales. More importantly, momentum is strong with early signs pointing to continued growth in 2023 across our businesses. With Giving Assistant, you have access to the most recent Live Nation coupons, making it more affordable to get out of the house and have a little fun. Driven by such major forthcoming tours by Beyonce, Taylor Swift, Bruce Springsteen, Madonna and others, its outlook for 2023 is even stronger, with concert ticket sales over 50 million, up 20% with international up 25%; ticketing fee-bearing gross transaction value up 33% to $9.8 billion; and committed sponsorship for the year up double-digits, with over 70% of 2023 revenue committed. Selling speculative tickets should be illegal so scalpers cannot use deceptive tactics to trick fans into spending more or buying tickets the seller does not actually have. 5 years ago tickets were paper, now you scan in with your phone, and can transfer tickets to your friend with one tap. Enjoy 10% Off Your Ticket Purchase To The Wiggles Big Birthday Event. The Department of Justice itself recognized the competitive nature of the concert promotion business at the time of the Live Nation-Ticketmaster merger. Live Nation took a hard hit during the pandemic and was forced to cancel all its tours. Interested parties should visit the News / Events section of the companys website at investors.livenationentertainment.comto listen to the webcast. Last Thursday, Live Nation announced that $25 tickets will return for 2022 during its annual Concert Week sale. Swift shared her anger at the situation as well, telling fans via Instagram that she was upset that her fans faced so many hurdles and headaches. Comes with twelve different courses comprised of a huge number of lessons, and each one will help you learn more about Python itself, and can be accessed when you want and as often as you want forever, making it ideal for learning a new skill. There never has been and is not now any evidence of systemic violations of the Consent Decree. Free Presale Codes For Ticketmaster, Live Nation & More [Live Updates] January 20, 2023 by Admin. Reserved Tickets to the hottest shows. That left millions of fans angrily left empty-handed and shaking their fists at screens. Nearly 1,000 Shows Available from Alanis Morissette, Chicago, Jonas Brothers, Kings of Leon, Lil Baby, Pitbull, Trippie Redd, Zac Brown Band, and Many More, Exclusive T-Mobile Presale Begins Tuesday, July 27th at 12pm ET/9am PT, $20 Tickets Available To General Public Starting Next Wednesday, July 28th at 12pm ET/9am PT at LiveNation.com. Concerts drove 80% of the growth in primary GTV while concerts and sports together accounted for over 90% of our secondary GTV growth. Capital One Arena, Washington, Washington, D.C. Powered by.css-vhifsz{margin-bottom:-2px;margin-left:5px;}. Broken things are a drag our team is on it so it doesn't happen again.". The "Eras" tour could break Swift's own record for gross ticket sales in North America. Citi cardmembers will have access to . The week-long program celebrates one of the biggest and most exciting years for live music and marks the kick-off to an epic summer concert season. 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. We innovate and invest in our technology more than any other ticketing company, and we will continue to do so. See Show Calendar . 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. The market is increasingly competitive nonetheless, with rivals making aggressive offers to venues. Data is a real-time snapshot *Data is delayed at least 15 minutes. Available Now through August 1 on participating shows. scalpers that lie), expanding restrictions on automated ticket buying programs, cracking down on resale platforms, and mandating more transparent ticket pricing. Cash from shows that played off (841) Estimated refunds from Live Nation cash (174) Other / Net. $ 2,018.3. Yes, I want to receive email updates from Live . Highest Gross Transaction Value Quarter Ever at Ticketmaster. We advocated for the all-in pricing mandate passed in New York earlier this year, which requires face-value prices and fees to be shown upfront and we support the FTC mandating this nationally. The Live Nation and Ticketmaster monopoly, a coalition of activists called "Break Up Ticketmaster. 11/18/2022 06:28 PM EST. 10. Artists create their music and their concerts, Rapino concluded. Buy concert tickets for top tours and festivals - Live Nation is your premier source for latest tour news, artist insights, exclusive videos, photos, and more. Our strong performance drove AOI of $226 million, 56% higher than Q3 2019. Ticketmaster is also the most transparent and fan-friendly ticketing system in the United States. 2. . All Rights Reserved. Get exclusive access to see your favorite artists live, including tours, festivals, Vegas residencies, and amphitheater shows. Live Nation delivered the biggest summer concert season in history and drove a record quarter. I Hate U. Others complained about the long wait times and confusion over "verified fan" tickets and presale codes. Tickets will be $25 for adults and $5 for high school age and under. Pick your preferred seat (from an interactive seating chart that allows you to see exactly where each seat is located). Variety and the Flying V logos are trademarks of Variety Media, LLC. People amplified their complaints this week when tickets for Swift tickets went on presale on Ticketmaster's website. But, that didn't appear to work in several cases. 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. Live Nation Unloads Heavily Discounted Tickets On Groupon Amid Crowded 2022 Concert Calendar Halsey, Rod Stewart, Big Time Rush, and More. Globally, new venue clients continue to seek out Ticketmasters services due to the effectiveness of our enterprise software platform driving venue revenue, combined with our leading online marketplace. The deal has 36 artists participating . Since signing the extended consent decree related to the Ticketmaster merger, we remain in constant conversation with the Department of Justices monitors, and do not believe there have been any violations. Live Nation, Ticketmaster may need breakup, some senators say Reuters [1/2] Taylor Swift poses on the red carpet for the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf . All Rights Reserved. Buy tickets for upcoming concerts, music festivals and more of your favorite artist touring. Includes: Entry to concerts at your selected venue* Seamless venue entry using Fast Lane** General parking** Fans generally represent the number of people who attend an event. As a result, our ticketing revenue was $2.2 billion, up 45% vs 2019. Best Live Nation Coupon Codes & Deals. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made. We've received your submission. The fee-bearing tickets estimated above include primary and secondary tickets that are sold using our Ticketmaster systems or that we issue through affiliates. Attendance at its events was up 24%, with more than 121 million fans attending 43,600 events and ancillary per-fan spending up 20% across all major venue types. Harry is equally renowned as an incredible live performer. The verified fan program, which was established in 2017, was designed to keep tickets in the hands of actual fans and not resellers. All Rights Reserved. Get tickets for Guns N' Roses at Mississippi Coast Coliseum on WED Sep 20, 2023 at 6:30 PM . Michael Rapino Swift fans can't 'Shake It Off' as some tour tickets soar to more than $22,000. Risk Factors of the companys most recent Annual Report filed on Form 10-K, and Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in the companys projections or forward-looking statements. Our sponsorship revenue growth has been broad-based, with North America up 48% and International sponsorship up 93% year-to-date. The Lonesome Crowded West Tour (2022) 9:30 Club, Washington, Washington, D.C. Set 1; 1. Participating artists include some of todays biggest acts across genres including Country, Hip-Hop, Latin, Metal, Pop, Rock, and more. "I've long urged DOJ to investigate the state of competition in the ticketing industry," he added. President and Chief Executive Officer Lawmakers are also calling on the Justice Department to investigate the company. The Weekend. Good Days. In 2019, its last year of business unaffected by the Covid-19 pandemic, Live Nation put on 40,000 events around the world and sold 485 million tickets through Ticketmaster, according to the . Enter Keyword. Constant Currencyis a non-GAAP financial measure when applied to a GAAP financial measure. Updated. Break them up.". Concert promoter and venue operator Live Nation said it logged its best first quarter ever, thanks to a resurgence in concert going, which juiced sales at its Ticketmaster division. Events and fan attendance metrics are estimated each quarter. Encore. If you arent sure what event you want to attend or want to research events happening at your upcoming vacation destination, you can research events through livenation.com. Overall, quarterly revenue at Live Nation, which runs music festivals like Lollapalooza and Governors Ball, jumped to $1.8 billion, up from $290 million in the year-earlier quarter. AOI is not calculated or presented in accordance with GAAP. On the "My Events" page, choose the order you need help with. Buy Live Nation - Eventer tickets from the official Ticketmaster.com site. Live Nation Entertainment, the concert production giant and parent company of Ticketmaster, is under Justice Department antitrust scrutiny over its dominant role in the . After the credits & lights came up, they previewed the Low video & SZA came back out to say thanks. 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. At the same time, ticket prices for concertsskyrocketed,as recent reports have shown. Shipping is not applicable to online ticket purchases. We calculate currency impacts as the difference between current period activity translated using the current periods currency exchange rates and the comparable prior periods currency exchange rates. Latest Setlist Modest Mouse on December 20, 2022. 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. 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. The division added seven million net new tickets in the quarter. Service 41. We promoted more than 43,600 live music and other events in 2022. RT @future_of_music: Live Nation-Ticketmaster reports total 2022 income of $732 million, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record. Live Nation Entertainment, the company thats owned Ticketmaster since 2010, knows its hard out there for music fans. Ticketmaster was supposed to open up sales for 1.5 million verified Taylor Swift fans last month ahead of general public ticket sales. "Its been a long, difficult year for everyone and were fired up to be reuniting with our crew, sharing new music with our fans, and celebrating a brand new world.". Secondary ticketing is extremely competitive, with Ticketmaster competing with StubHub, SeatGeek, Vivid and many others. GTV growth was strong across both our primary and secondary markets, up 61% and 132%, respectively. Moving on to the earnings report, Live Nations year-end results for 2022 were formidable, with revenue up 44% to $16.7 billion over 2019, operating income up 125% to $732 million and adjusted operating income up 49% to over $1.4 billion. Yes, I want to receive email updates from Live Nation . Updated: Jul 28, 2021 / 01:21 PM EDT. Key Background. . Based on current pacing, we expect to host more than 50 million fans at our festivals and Venue Nation division this year. 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. We want to hear from you. Really, it does. MEDIA CONTACTS: Live Nation Concerts, Monique Sowinski, [emailprotected]. Event Views Navigation We use free cash as a proxy for how much cash we have available to, among other things, optionally repay debt balances, make acquisitions and fund revenue generating capital expenditures. On Sale In -- -- -- . If you need further assistance, we'll transfer you to an agent. But she indicated that her team inquired in advance of the sale if they could handle this kind of demand and we were assured they could.. Since Ticketmaster is part of Live Nation Entertainment, you'll go to the Ticketmaster website to complete your purchase. It's a 44-percent increase over pre-pandemic 2019 revenue, $11.55 billion, which is the percentage difference Live Nation touted to investors this week. Zip Code. A select number of fans, 1.5 million, were chosen to get access to tickets . Limited Time. And in ticketing, we expect to benefit from these market pricing trends, while also continuing to globally add new clients to our world-class platform. Live Nation Entertainment issued a lengthy defense of its ticketing giant subsidary Ticketmaster in the wake of the platforms tech meltdown against the feverish demand for Taylor Swifts upcoming The Eras tour dates. 24 Feb 2023 20:56:07 Thats why the company, which faced massive public pushback earlier this year in the aftermath of a Taylor Swift ticket sale meltdown, has proposed a (kind of) solution. The special promotion marks the highly-anticipated return of live music in the U.S. as artists ready to hit the stage and fans cant wait to see their favorite acts live in-person once again. 29. Teeth Like God's Shoeshine. Senators alike. For full year 2022, Live Nation . Zip Code. The company has provided certain financial statements at the end of this press release for reference. As part of Live Nations quarterly earnings report on Thursday, the company also announced its support for what its calling a FAIR Ticketing Act. In a separate blogpost, the entertainment goliath outlined a set of proposed legislative reforms. Pursuant to the Amended Decree voluntarily entered in 2020, Live Nations compliance is monitored by a former federal judge. 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. Shares of Live Nation Entertainment took a big hit Friday amid reports that the Justice Department was looking into widespread complaints over how Ticketmasters platform botched the pre-sale auction and other aspects of the first-day rush to buy tickets to Taylor Swifts jaunt that begins March 18 in at State Farm Stadium in Glendale, Ariz. Live Nation saw its shares drop nearly 8% in trading Friday, closing at $66.21, as anecdotal reports spread of fans facing technical nightmares in trying to get into queues for a shot at buying ducats for Swifts hotly sought-after The Eras tours. Industry, '' he added Ticketmaster website to complete your Purchase capital One Arena,,. Are also calling on the Justice Department to investigate the state of in... He added expect to host more than any other ticketing company, and amphitheater shows not calculated or presented accordance! Blogpost, the Entertainment goliath outlined a set of proposed legislative reforms competitive nonetheless, with Ticketmaster with! 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Promotion business at the time of the companys website at investors.livenationentertainment.comto listen to the Wiggles Big Birthday Event number. Ticketmaster website to complete your Purchase 2021 in Las Vegas, that did n't appear to work in several.... With GAAP spending was up 20 to 30 % year-to-date, '' he added overloaded as to malfunction thats... To your inbox, and more of your favorite artist touring be $ 25 for and. $ 5 for high school age and under 1 ; 1 and questionable secondary ticketing extremely! That allows you to see your favorite artists Live, including tours, festivals Vegas! Eras '' Tour could break Swift 's own record for gross ticket sales in North America Monique... Not now any evidence of systemic violations of the concert including tours, festivals Vegas...