“The two-year wait for artists and fans is over,” said Live Nation boss Michael Rapino, as the company announced $6.3 billion in revenue for 2021.

Giant concert Living country Entertainment has released financial results for Q4 (ended December 31) and for the full year 2021.

In the filing, the company reports quarterly revenue of $2.7 billion across all divisions, including concerts, ticket sales, and advertising & sponsorships.

The company’s annual revenue stands at $6.3 billion, with Live Nation President and CEO Michael Rapino telling investors this week that he believes, “this is just the next step.” the beginning of the strongest multi-year period ever for the concert industry.”

Live Nation’s $2.7 billion quarterly revenue surpassed the $237.3 million reported in the same quarter of 2020, when very few shows were taking place globally due to the pandemic.

The company’s fourth-quarter concert revenue grew to $2.04 billion, up from $178.4 million in the previous quarter.

Writing to investors, Rapino said, “The year started in the middle of the pandemic, but by the summer fans were returning to performances and by the end of the year, we had a list of concerts. concerts, ticket sales and promotional engagements for 2022”.

He added: “The past two years have only reinforced the power of live music, and it has been great to see artists and fans reconnect on a massive scale around the world.”

For the full year, Live Nation’s total revenue grew by $4.5 billion YoY to reach $6.3 billion, compared with $1.8 billion in 2020.

Take a closer look at the company results for the whole year revealed that their Concerts business contributed $4.7 billion to that $6.3 billion total (see below).

Live Nation’s Concerts revenue grew $3.3 billion YoY, from $1.4 billion in 2020.

Meanwhile, the company’s Ticketing business generated $1.1 billion in 2021, compared with £188.4 million in 2020.

Live Nation generated $411.9 million from Sponsorships and Ads in 2021, up $208.2 million YoY from $203.7 million in 2020.

Live Nation reports that it has given more than 17,000 concerts to 35 million fans in 2021, mainly in the US and UK.

In the last five months of the year, in the US and UK, Live Nation reported more than 15 million fans attended outdoor events at festivals, stadiums and theatres, nearly 25% more compared to the same period in 2019 (the year before the pandemic).

Looking to the rest of 2022, Live Nation says that in terms of concert ticket sales, as of mid-February, they’ve sold 45 million tickets to this year’s shows, up 45% (see inside). below) compared to this time in 2019.

Additionally, Live Nation says they’ve got eight artists who have sold more than 500,000 tickets to their tours this year, including Bad Bunny, Dua Lipa and Billie Eilish.

Michael Rapino told investors that, “given the strength of ticket sales, it is not surprising that we are seeing every top metric for 2022 through 2019, reinforcing our confidence.” I believe we will have a record year in 2022 that will help us grow over the next few years.”

Rapino also noted that Live Nation acquired 51% shares in OCESA is helping accelerate its growth this year and giving the company “instant scale in Mexico and establish another pathway into the broader Latin American market”.

“I believe this is just the beginning of the most powerful multi-year period ever for the concert industry.”

Michael Rapino

Rapino added: “Looking at the top metrics, starting with the number of confirmed shows through the end of February, we’ve grown 30% over 2019 across our major venue shows, for stadium events, lecture halls, arenas and festivals.

“And fans are coming to see the shows – our most recent data over the past month shows that our concert absentee rate in the US has returned to 2019 levels, eliminating any Questions remain about the resilience of fan demand.

“Using this strong pipeline and combining it with our more efficient cost structure, I expect 2022 to deliver record financial performance overall and for each division.

“The two years of waiting for artists and fans are over. Never before have the positives for our business been so strong, and I believe this is just the beginning of the strongest multi-year period ever for the industry. concert industry. ”

At the end of Q4 (since December 31, 2021)Live Nation has a total cash and cash equivalents of 4.9 billion dollarswhich include 1.3 billion dollars in cash from ticket customers and 1.5 billion dollars with free cash.

This free cash, along with $569.9 million available debt capacity, which gives the company 2.1 billion dollars available liquidity.

The company says that it believes this level of liquidity will give it the runway it needs as more returns show.

Worldwide music business

https://www.musicbusinessworldwide.com/the-two-year-wait-for-artists-and-fans-is-over-says-live-nation-boss-michael-rapino-as-firm-posts-6-3bn-revenues-for-202111/ “The two-year wait for artists and fans is over,” said Live Nation boss Michael Rapino, as the company announced $6.3 billion in revenue for 2021.

Fry Electronics Team

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