Live Nation announced its latest quarterly financials yesterday, with Q3 revenues of $3.77bn actually down 2% year-on-year – although the company preferred to stress that over the first nine months of the year, its revenues are up 6% to $8.82bn. Operating income was up by 11%, meanwhile.
“In response to recent questions around consumer demand, we are seeing fan spending as strong as ever. In September, our amphitheater and arena shows actually closed stronger than shows in September of last year, and our fan spending on-site also showed ongoing growth,” announced the company. “At the centre of our flywheel, the demand for live events continues to grow, as we have sold 92 million tickets through mid-October, up 6% or five million tickets compared to this time last year, and are on track to have nearly 100 million fans attend our shows this year.”
One interesting stat from the company’s Ticketmaster business: mobile transactions now account for 46% of ticket purchases globally, up 15% year-on-year.