In a big day of quarterly-financials announcements, Live Nation’s impressed. The company reported revenues up 7% year-on-year to $2.87bn in the second quarter of 2018, including a 13% rise in ticketing income (to $351.2m), 12% for sponsorship and advertising (to $139.9m) and 6% growth for its main concerts division (to $2.38bn).
As a whole, Live Nation reported a quarterly operating profit of $134.7m, up 19% year-on-year, and a net profit of $83.4m for Q2. For concerts: “Through July we have sold approximately 70 million tickets to shows this year, almost three million more tickets than at this point last year, putting us on track to have over 90 million fans attend our concerts this year,” reported Live Nation.
Meanwhile, Ticketmaster’s gross transaction value (GTV) is up 11% year-on-year – that includes 9% growth for primary tickets and 29% for secondary tickets, which may spark some debate in the coming days. The company also had something to say about fans’ ticket-buying habits.
“We continue to see an ongoing shift to mobile, and following a redesigned purchase experience, mobile fee-bearing tickets are up 34% for the year, now accounting for 40% of all fee-bearing ticket sales, with mobile conversion rates up double-digits,” explained boss Michael Rapino.