live concert crowd

How is the return of physical concerts and festivals going for Live Nation? Pretty well. The company says that its business “roared back” in the third quarter of 2021, with 17 million fans attending its shows during that three-month period.

“Overall ticket sales for major festivals were up 10% versus 2019. And we have had a number of tours already sell over 500 thousand tickets for shows this year,” announced Live Nation.

This all led to revenues of just under $2.7bn for the quarter, compared to the $184m in Q3 last year at the height of Covid-19’s shutdown of the live music industry. The company is already looking forward to 2022, having sold 22m tickets so far for shows next year.

“No industry was more impacted by the pandemic over the last two years, and no industry has so proven its durability of demand in the face of such disruption,” wrote president and CEO Michael Rapino in his letter to shareholders, while warning that “we will continue to have bumps in the road in the coming months, and it will take some time for international artists to be touring on a truly global basis”.

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