By Anne Steele
The live-music business continues to grow, with concertgoers shelling out for more shows in larger venues, Live Nation said in reporting its latest quarterly results.
The world's largest concert promoter said it is poised for a record summer concert season, with the number of shows playing in stadiums -- featuring artists including Beyoncé, Kendrick Lamar and Morgan Wallen -- up 60% from last year.
"As more artists tour the world, fan demand is reaching new heights across ticket sales, show attendance and on-site spending," said Chief Executive Michael Rapino.
The results
For the first quarter, revenue of $3.38 billion was down 11% from the prior year but above analyst expectations, according to FactSet. Concert revenue contributed $2.5 billion to that amount, also above expectations.
Deferred revenue -- money Live Nation collects and holds from its own venues until an event is staged -- rose 24% from last year, to $5.4 billion.
The company narrowed its loss to 32 cents a share from 56 cents a share, beating expectations by a penny.
(END) Dow Jones Newswires
May 01, 2025 16:15 ET (20:15 GMT)
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