Live Nation reports 2023 as ‘biggest year ever’ for concert attendance and ticket sales

Live Nation, the entertainment giant that owns Ticketmaster, has reported its biggest year ever in 2023, with soaring revenue driven by 145 million fans attending 50,000 events “from clubs to stadiums”.

In its end-of-year report, the company said concert attendance driven by international tours from mega-artists as Taylor Swift and Beyoncé - was up by 20% compared to 2022, prompting a 36% increase in total revenue to US$22.7 billion, while operating income went up 46% to US$1.07 billion.

Commenting on the results, Live Nation President and Chief Executive, Michael Rapino stated “the live music industry reached new heights in 2023, and demand for live music continues to build.

“Our digital world empowers artists to develop global followings, while inspiring fans to crave in-person experiences more than ever.

“At the same time, the industry is delivering a wider variety of concerts which draws in new audiences, and developing more venues to support a larger show pipeline.

“Against this backdrop, we expect all our businesses to continue growing and adding value to artists and fans as we deliver double-digit operating income and AOI growth again this year, with our profitability compounding by double-digits over the next several years.”

The report also highlighted the global industry expansion in its blockbuster year, with 50% more international acts in the top 50 tours, and 15% more shows on average, compared to five years ago - before the pandemic brought the live entertainment industry to a halt.

Live Nation’s investment in artists increased by over 40% to over US$13 billion, with the report noting that it promoted “nearly 7,000 touring artists in 40+ countries”.

Click here to read details from Live Nation’s 2023 end-of-year report.

Image: Taylor Swift on stage: Credit: Paolo Villanueva via Wikimedia Commons.