Live Nation Entertainment (LNE) reported another strong second quarter (Q2) ending 30 June 2018, with revenue up seven per cent to $2.9 billion, operating income up 19 per cent to $135 million and adjusted operating income (AOI) rising 18 per cent to $260m.
The Concerts division, which had its highest Q2 attendance to date, was up six per cent to $131m, with more than 9,000 shows and over 25 million attendees.
Arena attendance showed growth of 17 per cents with more than 7.5m attending, while amphitheatre attendance growth was up 14 per cent. Globally, festival attendance was up three per cent across LNE’s 33 festivals.
Ticketing revenue was up 13 per cent or $40m, with a nine per cent increase in primary ticket sales and 29 per cent in secondary ticketing activity.
Sponsorship was up 12 per cent to $140m, an increase of $15.4m on Q2 last year, with growth in North America and Europe.
“Each of our businesses is contributing to this success as we put on more concerts for a greater numbers of fans, continue to monetize fans who come to the shows, sell more tickets to events of all types and further demonstrate the value of our 90 million fans to sponsors,” says LNE president and CEO Michael Rapino.
LNE’s long-term debt is $2.743 billion, the same as in Q1, and short-term debt is $84.946m, down from $119.4m in Q1.