Demand for Live Music is Only Increasing

Live Nation's $3.8b of revenue in the first quarter of 2024 shows that demand for concerts is large and continues to grow

Demand for Live Music is Only Increasing

Live Nation’s first quarter results were released and highlight the strength of the growing music industry. The company reported revenues of $3.8bn in the first quarter of 2024, up 21% year-on-year. That included 26% growth for its concerts business, and 7% growth for ticketing. This is great news for artists as live performance can still make up over 30% of an artists total income.

The table below breaks down the key growth areas for Live Nation. These insights are a great reminder that ticket sales are only a part of the revenue ecosystem. A live event should create unique experiences, bring in the rights sponsors, have diverse food and beverage options aligned with the fan base, and capitalize on merchandise sales. Venues, parking lots, restaurants, and hotels also all benefit from the growth in live events.

Overall, these are great results with global fan demand stronger than ever according to Michael Rapino, President and CEO of Live Nation Entertainment.

This article was provided by Alex Gramatzki (Crescendo Music Royalty Fund) - Link to the original post can be found here