Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, or SEC, specifically the section titled Item 1A. Sponsorship had its biggest quarter ever following our previous record last quarter, driven by the strength of our festivals and online partnerships. "Eras" tour tickets are pricedfrom $49 to $450, with VIP packages starting at $199 and reaching $899. This only works if all ticketing marketplaces adopt together, so that consumers truly can accurately compare as they shop for tickets. 2023 CNBC LLC. T-Mobile and Sprint customers can score exclusive 24-hour early access to the $20 all-in tickets through T-Mobile Tuesdays starting Tuesday, July 27th at 12pm ET/9am PT. Email. "Despite promises of increased competition and consumer benefit, they now control 70% primary ticketing and live event venues market," according to a coalition of activists called "Break Up Ticketmaster." . We already follow many of these common sense policies and are ready to make additional changes, but we cant do it alone, Live Nation wrote. Are you always the last in line to grab tickets for concerts and other live events? The Department of Justice can reverse this merger and bring competition back to the industry. Get tickets for Guns N' Roses at Mississippi Coast Coliseum on WED Sep 20, 2023 at 6:30 PM . Ticketmaster has a significant share of the primary ticketing services market because of the large gap that exists between the quality of the Ticketmaster system and the next best primary ticketing system. Gizmodo reached out to Live Nation to learn more about what internal steps the company might take to address these concerns, but didnt hear back as of publishing this. On Thursday, about a month after the committee hearing, Senators Amy Klobuchar and Mike Lee wrote a letter recommending that the Department of Justice continue examining Live Nation and its potential anti-competitive practices. Pol calls to break up Live Nation over dismal safety record, Live Nation offers $25 tickets for over 75 concerts to celebrate National Concert Week, Marv Albert in awe of Clyde Frazier's broadcasting rise, 11-year-old reads aloud from 'pornographic' book he checked out from library at school board meeting, Family raises 250-pound 'dog' for 2 years then realizes it's a bear, Influencer refuses to switch business class seats so family can sit together, Teen Mom alum Ryan Edwards arrested after stalking wife Mackenzie, Kim Kardashian models thong bikini, belly chain in sexy new pics, Kyle Richards gives an update on her friendship with RHOBH alum Lisa Rinna, Sunny Hostin Points Finger at China for COVID Crisis: Did Not Cooperate With the International Community, Prince Harry, Meghan Markle confirm they were asked to 'vacate' Frogmore Cottage. Tickets will be $25 for adults and $5 for high school age and under. The biggest challenge facing the industry is chaos at the onsale, where fans cannot get the tickets at the price the artist sets, yet they see pages of secondary sites with tickets 5 times face value because of scalpers. Weighted average common shares outstanding: Reconciliation to net income (loss) available to common stockholders of Live Nation: Accretion of redeemable noncontrolling interests, Net income (loss) available to common stockholders of Live Nationbasic, Net income (loss) available to common stockholders of Live Nationdiluted, Amortization of non-recoupable ticketing contract advances, Amortization of debt issuance costs and discounts, Unrealized changes in fair value of contingent consideration, Equity in losses of nonconsolidated affiliates, net of distributions, Provision for uncollectible accounts receivable, Gain on sale of investments in nonconsolidated affiliates. Demand for concert venue bookings is higher for 2022 than it was in 2019, Live Nation Entertainment's president said. "Consumers deserve better than this anti-hero behavior.". Service 41. Getty Images. Event Views Navigation Zip Code. Buy concert tickets for top tours and festivals - Live Nation is your premier source for latest tour news, artist insights, exclusive videos, photos, and more. Events and fan attendance metrics are estimated each quarter. By continuing past this page, you agree to our terms of use. We use FCF among other measures, to evaluate the ability of operations to generate cash that is available for purposes other than maintenance capital expenditures. Fan demand for live events was also clear in our ticketing business, as we transacted $6.7 billion of fee-generating GTV on 71 million tickets, up 69% and 42% respectively, relative to Q3 2019. As a result, we have contracted 19 million net new tickets so far this year on a global basis. The deal has 36 artists participating . 2023 Variety Media, LLC. Tickets for Swift's tour-her first since 2018first became available for presale on Tuesday. 44 Concerts Rocked the 2022 Season! Buy Live Nation - Eventer tickets from the official Ticketmaster.com site. Variety and the Flying V logos are trademarks of Variety Media, LLC. We calculate currency impacts as the difference between current period activity translated using the current periods currency exchange rates and the comparable prior periods currency exchange rates. Decide how many tickets you wish to purchase. If you arent sure what event you want to attend or want to research events happening at your upcoming vacation destination, you can research events through livenation.com. This free cash, along with $565.9 million of available debt capacity, gives the company $2.6 billion of available liquidity. The verified fan program, which was established in 2017, was designed to keep tickets in the hands of actual fans and not resellers. The Lonesome Crowded West Tour (2022) 9:30 Club, Washington, Washington, D.C. Set 1; 1. Qualifying wireless plan required. The companys CFO Joe Berchtold also claimed that Ticketmaster doesnt set the lofty ticket prices. The consistent theme is that fans are eager to enhance their experience, as we continue elevating our hospitality operations and provide more premium options. As part of Live Nations quarterly earnings report on Thursday, the company also announced its support for what its calling a FAIR Ticketing Act. In a separate blogpost, the entertainment goliath outlined a set of proposed legislative reforms. Once you are there, click the 'Contact Us' button. Zip Code. The company said it registered roughly 11 million fans attending shows in the quarter, down from 15 million in the first quarter of 2019, which the company said was its most comparable period since the pandemic. A ticket will gain entrance to both volleyball matches and the concert. Celebrate Summer Concert Season with $20 All- In Tickets to +1,000 Shows! Club Deadspin Ticketmasters advance pre-sale registration system was so overloaded as to malfunction. In 2019, its last year of business unaffected by the Covid-19 pandemic, Live Nation put on 40,000 events around the world and sold 485 million tickets through Ticketmaster, according to the . "I'm hearing about site crashes and fans waiting for hours. In recent months, the corporate concert giant has faced widespread critique and questioning from T-Swift stans on TikTok and U.S. Capital One Arena, Washington, Washington, D.C. Powered by.css-vhifsz{margin-bottom:-2px;margin-left:5px;}. Ticketmaster was supposed to open up sales for 1.5 million verified Taylor Swift fans last month ahead of general public ticket sales. All Rights Reserved. Ticketmaster is pulling the plug on the general-public ticket sale for Taylor Swift's "Eras" tour that was set to . Asheville, NC 28801. BEVERLY HILLS, Calif., July 22, 2021 /PRNewswire/ Today Live Nation announced it is celebrating the Return to Live concerts this summer by offering fans $20 all-in tickets to nearly 1,000 shows this year. Then click "See Details" to get to the "Event Details" page. Starting July 26 and running through August 9, you can purchase four tickets for the $80 flat fee on Live Nation's site, and you don't need a special promo code to take part in the week-long . At the same time, our operated venues successfully hosted more fans, with attendance up 14% relative to Q3 2019 to 19 million fans for the quarter, and 38 million fans year-to-date. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Max four tickets per Offer Passcode. Prega Govender Journalist. Latest Setlist Modest Mouse on December 20, 2022. Similarly, Sen. Richard Blumenthal, D-Conn., called Swift's tour sale "a perfect example of how the Live Nation/Ticketmaster merger harms consumers by creating a near-monopoly," in a Tweet posted Tuesday. Representatives from Live Nation did not immediately respond to CNBC's request for comment. Operating Income was up 95% to $506 million, with all divisions up at least 60% and AOI was up 45% to $621 million, with all divisions up at least 25%. Yes, I want to receive email updates from Live . For too long, Live Nation and Ticketmaster have wielded monopoly power anticompetitively, harming fans and artists alike, the Senators wrote in the February 23 letterthe second letter penned by Klobuchar regarding Ticketmaster in the past three months. This includes primary tickets sold during the year regardless of event timing, except for our own events where our concert promoters control ticketing which are reported when the events occur. Ticket sales for shows in 2023 are pacing even stronger than they were heading into 2022, up double-digits year-over-year, excluding sales from rescheduled shows. A limitation of the use of free cash as a performance measure is that it does not necessarily represent funds available from operations and it is not necessarily a measure of our ability to fund our cash needs. This will be our 15th . 10. Others complained about the long wait times and confusion over "verified fan" tickets and presale codes. Its sponsorship revenue is up 64% to around $1 billion, and its ticketing fee-bearing gross transaction value is up 54% to $27.5 billion. 2023 Variety Media, LLC. Beyond these specific leading indicators, going into 2023, we expect we will drive growth in our concert business by adding more venues to our operated portfolio, continue increasing ancillary per fan revenue and further our efforts to deliver market value for the show to artists. Ticket sales for concerts this year were up 34% for the quarter, and now stand at over 115 million tickets sold for shows this year, up 37% from this point in 2019. Yes, I want to receive email updates . Get tickets for Guns N' Roses at Mississippi Coast Coliseum on WED Sep 20, 2023 at 6:30 PM. The firm said today the coronavirus is having less of an impact on planned events, noting that it only canceled about 1% of planned concerts in March. On a very busy Thursday for the company, it also launched the FAIR Ticketing Act in an effort to combat excesses in the secondary ticketing market, and plans to release a statement in response to one issued earlier in the day by Senators Amy Klobuchar and Mike Lee, who led last months controversial Senate hearing on the ticketing industry. Ticketmaster also does not embrace deceptive and questionable secondary ticketing practices prevalent on rival sites such as speculative ticketing. Festival sponsorship has been our largest growth driver on-site to date, as we have effectively leveraged record festival attendance this year and compounded this growth with double-digit increases in per fan sponsorship. As Live Nation's . Tickets are available on a first-come, first-served basis while supplies last. Last Thursday, Live Nation announced that $25 tickets will return for 2022 during its annual Concert Week sale. Highest Gross Transaction Value Quarter Ever at Ticketmaster. The scope of the BOTS Act needs to be expanded and enforced to deter those who break the law, cheating artists and fans in the process. Free cash is not calculated or presented in accordance with GAAP. Explore HARDY tour schedules, latest setlist, videos, and more on livenation.com Greg Maffei, who also chairs Live Nation's board of directors, said Ticketmaster opened pre-sale access to 1.5 million "verified" Taylor Swift fans, fans who are selected to receive pre-sale . Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise. Live Nation today announced the return of Concert Week, offering fans access to $25 all-in tickets to more than 3,700 shows across North America this year. 40 Concerts Rocked the 2022 Season! However, legislators remain concerned with the issue of monopoly and a lack of competition in the live event-space. The company that owns Ticketmaster is backing reforms to the ticket process, after facing intense backlash following a chaotic 2022 Taylor Swift concert sale. Ticketmaster has long maintained a stronghold on concert ticket sales in the United States. While idealistic in ways, these measures, if enacted as stated, would address at least some of the very legitimate complaints that have been leveled at Ticketmaster and the ticketing industry overall in recent years. We use AOI to evaluate the performance of our operating segments. $20 All-In Tickets Live Nation: Return to Live Ticketmaster which controls 70% of the market for ticketing and live events according to CNBC canceled its so-called public sale of . Best Live Nation Coupon Codes & Deals. Live Nation posted robust results in an earnings report encompassing the full 2022 year and its fourth quarter released Thursday, and looks ahead to a blockbuster 2023 amid ongoing government attention to its Ticketmaster division after the debacle surrounding last falls on-sale for Taylor Swifts stadium tour. RT @future_of_music: Live Nation-Ticketmaster reports total 2022 income of $732 million, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record. The division added seven million net new tickets in the quarter. Tickets will go on sale to the general public on Wednesday, April 26. These complications have reinvigorated calls from activists and politicians for the Department of Justice to investigate the decade's-old merger of Ticketmaster and Live Nation. For additional information, visit www.livenationentertainment.com. Encore. Live Nation proposed the changes on the same day it reported record sales of $16.7 billion for 2022, more than double a year ago and up 44% from 2019, the last normal year before Covid-19. 1 Personalized pass that acts as your ticket to the Allegiant.com lawn for Blossom Music Center's 2023 season*. Ticketmaster. Our strong performance drove AOI of $226 million, 56% higher than Q3 2019. Harry is equally renowned as an incredible live performer. Live Nation saw its shares drop nearly 8% in trading Friday, closing at $66.21, as anecdotal reports spread of fans facing technical nightmares in trying to get into queues for a shot at buying . 474. We innovate and invest in our technology more than any other ticketing company, and we will continue to do so, Live Nation wrote (full statement below). 27. We want to hear from you. Yes, I want to receive email updates from Live Nation . Updated. Live Nation delivered the biggest summer concert season in history and drove a record quarter. High demand has goosed sponsorship sales, which are up double-digits compared to this point in 2019. It . There's something about Taylor Swift and breakups. Forward-Looking Statements, Non-GAAP Financial Measures and Reconciliations: Certain statements in this press release, including the Supplemental Information that follows, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Taylor Swift accepts an award onstage during the MTV Europe Music Awards 2022 held at PSD Bank Dome on November 13, 2022 in Duesseldorf, Germany. Risk Factors of the companys most recent Annual Report filed on Form 10-K, and Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in the companys projections or forward-looking statements. 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