Live Nation, which merged with Ticketmaster in 2010, has faced longstanding criticisms about its size and power in the entertainment industry. There's something about Taylor Swift and breakups. By continuing past this page, you agree to our .css-6nxit1{transition-property:var(--ln-transition-property-common);transition-duration:var(--ln-transition-duration-fast);transition-timing-function:var(--ln-transition-easing-ease-out);cursor:pointer;-webkit-text-decoration:underline;text-decoration:underline;outline:2px solid transparent;outline-offset:2px;color:var(--ln-colors-white);}.css-6nxit1:hover,.css-6nxit1[data-hover]{color:var(--ln-colors-live);}.css-6nxit1:focus,.css-6nxit1[data-focus]{box-shadow:var(--ln-shadows-outline);}.css-6nxit1:active,.css-6nxit1[data-active]{color:var(--ln-colors-live);}Terms of Use. Find P!NK tickets on Australia | Videos, biography, tour dates, performance times. 15% OFF. As a result, we have contracted 19 million net new tickets so far this year on a global basis. 5 years ago tickets were paper, now you scan in with your phone, and can transfer tickets to your friend with one tap. ", In a revealing passage, it adds that "approximately 270 million tickets were sold using our Ticketmaster systems. 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. Similarly, Sen. Richard Blumenthal, D-Conn., called Swift's tour sale "a perfect example of how the Live Nation/Ticketmaster merger harms consumers by creating a near-monopoly," in a Tweet posted Tuesday. $20 All-In Tickets Live Nation: Return to Live Free cash is not calculated or presented in accordance with GAAP. Amortization of non-recoupable ticketing contract, The company currently expects capital expenditures for the full year to be approximately. Since Ticketmaster is part of Live Nation Entertainment, you'll go to the Ticketmaster website to complete your purchase. Over the course of the summer, we also continued to see strong on-site per fan spend with no reduction in consumer buying habits. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise. 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. Secondary ticketing is extremely competitive, with Ticketmaster competing with StubHub, SeatGeek, Vivid and many others. Participating artists include some of todays biggest acts across genres including Country, Hip-Hop, Latin, Metal, Pop, Rock, and more. The scope of the BOTS Act needs to be expanded and enforced to deter those who break the law, cheating artists and fans in the process. Events and fan attendance metrics are estimated each quarter. 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. 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Festivals are counted as one event in the quarter in which the festival begins, but the number of fans is based on the days the fans were present at the festival and thus can be reported across multiple quarters. Ticket sales giant, Ticketmaster recorded its second highest gross transaction volume in its history with an estimated 111,292 in the three months ended March 31. "I'm hearing about site crashes and fans waiting for hours. Cash from shows that played off (841) Estimated refunds from Live Nation cash (174) Other / Net. The A.V. Representatives from Live Nation did not immediately respond to CNBC's request for comment. Check out available shows here. The dynasty continues. 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. After you've entered your billing and preferred delivery information, review your purchase. The "Eras" tour could break Swift's own record for gross ticket sales in North America. See Show Calendar . 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. Good Days. ", record-breaking new album release "Midnights,". 2023 Variety Media, LLC. 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. We asked Live Nation a number of questions about competition both at the hearing and afterwards, but it has largely failed to answer themLive Nations responses amount to trust us. We believe that is wholly insufficient, they added. Print your tickets from home or pick them up at the event. Key Background. Limited Time. Description. 2. . 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. The deal has 36 artists participating . Prega Govender Journalist. Based on current pacing, we expect to host more than 50 million fans at our festivals and Venue Nation division this year. Number of shows for 2022 not representative of 2023 season. Clearly 2022 has been an incredible year of returning to live events, and we expect it to finish strong. Search for Events by Keyword. Variety and the Flying V logos are trademarks of Variety Media, LLC. scalpers that lie), expanding restrictions on automated ticket buying programs, cracking down on resale platforms, and mandating more transparent ticket pricing. Constant Currencyis a non-GAAP financial measure when applied to a GAAP financial measure. 2023 CNBC LLC. Once you are there, click the 'Contact Us' button. Accordingly, free cash should be considered in addition to, and not as a substitute for, cash and cash equivalents and other measures of financial performance reported in accordance with GAAP. After the credits & lights came up, they previewed the Low video & SZA came back out to say thanks. By continuing past this page, you agree to our terms of use. 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. The consistent theme is that fans are eager to enhance their experience, as we continue elevating our hospitality operations and provide more premium options. Data is a real-time snapshot *Data is delayed at least 15 minutes. Festivals and Global Footprint Fuel Sponsorship Growth. Qualifying wireless plan required. 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. Available Now through August 1 on participating shows. 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 . The CEO said inflation doesnt appear to be impacting demand or pricing on ticket sales, adding that concert no-show rates have returned to pre-Covid-19 levels. Receive 15% Off Your Purchase. Email. That Ticketmaster continues to be the leader in such an environment is a testament to the platform and those who operate it, not to any anticompetitive business practices. Live Nation took a hard hit during the pandemic and was forced to cancel all its tours. 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. This story has been shared 106,884 times. 30+ Concerts Rocked the 2022 Season! Accounts receivable, less allowance of $63,761 and $50,491, respectively, Current portion of operating lease liabilities, (in thousands except share and per share data), Selling, general and administrative expenses, Equity in losses (earnings) of nonconsolidated affiliates, Gain from sale of investments in nonconsolidated affiliates, Net income attributable to noncontrolling interests, Net income (loss) attributable to common stockholders of Live Nation, Basic net income (loss) per common share available to common stockholders of Live Nation, Diluted net income (loss) per common share available to common stockholders of Live Nation. Fans around the world continue prioritizing their spend on live events, particularly concerts. Find concert tickets for Thomas Rhett upcoming 2023 shows. This free cash, along with $565.9 million of available debt capacity, gives the company $2.6 billion of available liquidity. The companys CFO Joe Berchtold also claimed that Ticketmaster doesnt set the lofty ticket prices. 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. 27. 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. Ticketmaster has long faced criticism and scrutiny of its business practices and the fees added on to each transaction. At the same time, ticket prices for concertsskyrocketed,as recent reports have shown. Adjustment to estimated additional future refunds from Live Nation-held cash. Email. Sign up for email updates from Live Nation. Josh Groban, one of the Live Nation artists whose . No serious argument can be made that Ticketmaster has the kind of market position in secondary ticketing that supports antitrust claims. 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. Find concert tickets for HARDY upcoming 2023 shows. "We couldnt be more excited to get back out on the road," said Zac Brown. These financial statements should be read in conjunction with the full financial statements, and the notes thereto, set forth in the companys Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission today and available on the SECs website at sec.gov. On Friday evening, Live Nation issued an impassioned defense of the much-maligned Ticketmaster with a long statement asserting that the platform was the most transparent and fan-friendly service of its kind available. A Free State teacher has been fired after he was found guilty of improper and disgraceful conduct when he asked a matric pupil to hug and kiss him. Venue Presale. Highest Gross Transaction Value Quarter Ever at Ticketmaster. The company was forced to extend presales after fans flocked to the site, causing site disruptions and slow queues. 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. Citi cardmembers will have access to . ', 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'. The market is increasingly competitive nonetheless, with rivals making aggressive offers to venues. Tickets will be $25 for adults and $5 for high school age and under. But the concert giant emerged victorious when the court ruled buyers had waived their rights to sue in favor of arbitration per the company's terms and conditions. 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. $20 Tickets Available To General Public Starting Next Wednesday, July 28th at 12pm ET / 9am PT at LiveNation.com. 11/18/2022 06:28 PM EST. Event Views Navigation 1 Personalized pass that acts as your ticket to the Allegiant.com Lawn for iTHINK Financial Amphitheatre's 2023 season* . TICKETS: Tickets go on sale to the general public starting Monday, November 21st at 10am Local Time on LiveNation.com. Participating artists celebrating the Return to Live concerts include: About Live Nation EntertainmentLive Nation Entertainment (NYSE: LYV) is the worlds leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. See Show Calendar . A replay of the webcast will also be available on the Live Nation website. Beyond these specific leading indicators, going into 2023, we expect we will drive growth in our concert business by adding more venues to our operated portfolio, continue increasing ancillary per fan revenue and further our efforts to deliver market value for the show to artists. A select number of fans, 1.5 million, were chosen to get access to tickets . We still have tremendous room to expand these higher quality experiences throughout our venue portfolio, which includes over 400 venues and festivals globally with almost 40 new venues in our pipeline. Last Thursday, Live Nation announced that $25 tickets will return for 2022 during its annual Concert Week sale. 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. Australia has won a sixth Women's T20 World Cup title after defeating South Africa by 19 runs at Newlands on Sunday, with an unbeaten half-century from Player of the Match . Ticketmaster was supposed to open up sales for 1.5 million verified Taylor Swift fans last month ahead of general public ticket sales. GTV growth was strong across both our primary and secondary markets, up 61% and 132%, respectively. Its sponsorship revenue is up 64% to around $1 billion, and its ticketing fee-bearing gross transaction value is up 54% to $27.5 billion. Are you always the last in line to grab tickets for concerts and other live events? And we see strong demand both on-site and online, up 64% and 63%, respectively this year, as our unique scaled live events platforms continue to attract new brands and expand relationships with current partners. Maybe its the hottest boy band in the country coming to a stadium near you, or perhaps its a jazz band that puts you in a soulful mood. There's something about Taylor Swift and breakups. Twelve days of fun ending at Labor Day. In his letter to investors, Michael Rapino highlighted the results from the companys embattled but highly lucrative Ticketmaster division, noting, We grew our fee-bearing ticket volume by 28% from 2019 to 280 million, which in turn drove our fee-bearing [gross transacted value] up by over 50% vs 2019 to $28 billion across 38 countries. Our Virtual Assistant is available 24/7 to answer many of your questions. 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Jordan Meets Reporter at 'Creed III' Premiere Who 'Teased Him all the Time' in High School: 'I Was the Corny Kid, Right? LOS ANGELES, Nov. 3, 2022 /PRNewswire/ Live Nation Entertainment, Inc. (NYSE: LYV) today released financial results for the quarter ended September30, 2022. Indeed, that's a 166-percent increase almostthree-fold over 2021 revenue of $6.27 billion (Variety). As Live Nations outdoor venues across the U.S. begin to open, the time is here to get outside and catch live music with friends, family and loved ones at over 40 Live Nation amphitheaters all across the country. Activists have accused Ticketmaster and Live Nation of abusing their market power and called for the company to be broken up. As ticket sales increase, related ticketing operating income generally increases as well.". It remains against Live Nation policy to threaten venues that they wont get Live Nation shows if they do not use Ticketmaster, and Live Nation does not re-route content as retaliation for a lost ticketing deal. Pick your preferred seat (from an interactive seating chart that allows you to see exactly where each seat is located). Includes: Entry to concerts at your selected venue* Seamless venue entry using Fast Lane** General parking** 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. 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. Currency impacts (25) Ticket sales in the third quarter of 2021. Our sponsorship revenue growth has been broad-based, with North America up 48% and International sponsorship up 93% year-to-date. 01 March 2023 - 11:54. Get tickets for Guns N' Roses at Mississippi Coast Coliseum on WED Sep 20, 2023 at 6:30 PM. "They're hiking up ticket prices, charging rip-off junk fees, and exploiting artists, independent venues, and fans. The Weekend. "Daily reminder that Ticketmaster is a monopoly," Rep. Alexandria Ocasio-Cortez, D-N.Y., wrote in a Tweet Tuesday. 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. Some users were shown an error page stating, "We're sorry! Swift's latest tour, which comes on the heels of herrecord-breaking new album release "Midnights,"has set 52 dates so far, the singer's largest tour to date. We innovate and invest in our technology more than any other ticketing company, and we will continue to do so. 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. Find full tour schedules, seating charts and concert venue details at Ticketmaster.com. The company that owns Ticketmaster is backing reforms to the ticket process, after facing intense backlash following a chaotic 2022 Taylor Swift concert sale. Find Australia and international concert tickets, tour dates, seating maps and show information on LiveNation.com.au, the world's largest concert search engine. We use AOI to evaluate the performance of our operating segments. It . The Department of Justice itself recognized the competitive nature of the concert promotion business at the time of the Live Nation-Ticketmaster merger. 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 venues in your area also host presales . Reconciliation of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures (Unaudited), Reconciliation of Free Cash FlowAdjusted to Net Cash Provided by Operating Activities, Less: Changes in operating assets and liabilities (working capital), Distributions to noncontrolling interests, Net cash provided by (used in) financing activities, Net cash provided by operating activities, Reconciliation of Free Cash to Cash and Cash Equivalents. Findthe corporation's 2022 FEC filing here. Broken things are a drag our team is on it so it doesn't happen again.". 10. That dynamic has not changed. The verified fan program, which was established in 2017, was designed to keep tickets in the hands of actual fans and not resellers. 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. Zip Code. In our sponsorship business, confirmed commitments are up 30% from this time last year, showing the resiliency and long-term commitments that brands have for our business. On Thursday, about a month after the committee hearing, Senators Amy Klobuchar and Mike Lee wrote a letter recommending that the Department of Justice continue examining Live Nation and its potential anti-competitive practices. The Lonesome Crowded West Tour (2022) 9:30 Club, Washington, Washington, D.C. Set 1; 1. American Express, Citi, and Chase cardholders. A Division of NBCUniversal. As Live Nation's . Buy tickets for upcoming concerts, music festivals and more of your favorite artist touring. Festival sponsorship has been our largest growth driver on-site to date, as we have effectively leveraged record festival attendance this year and compounded this growth with double-digit increases in per fan sponsorship. As of September 30, 2022, total cash and cash equivalents were $5.0 billion, which includes $1.3 billion in ticketing client cash and $2.0 billion in free cash. 1 Personalized pass that acts as your ticket to the Allegiant.com lawn for Blossom Music Center's 2023 season*. Updated: Jul 28, 2021 / 01:21 PM EDT. Yes, I want to receive email updates . 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. Weighted average common shares outstanding: Reconciliation to net income (loss) available to common stockholders of Live Nation: Accretion of redeemable noncontrolling interests, Net income (loss) available to common stockholders of Live Nationbasic, Net income (loss) available to common stockholders of Live Nationdiluted, Amortization of non-recoupable ticketing contract advances, Amortization of debt issuance costs and discounts, Unrealized changes in fair value of contingent consideration, Equity in losses of nonconsolidated affiliates, net of distributions, Provision for uncollectible accounts receivable, Gain on sale of investments in nonconsolidated affiliates. Expenditures for the full year to be approximately tickets go on sale to the public. To estimated additional future refunds from Live Nation website and invest in our more. Market is increasingly competitive nonetheless, with rivals making aggressive offers to venues from... 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