: Live Nation says concert industry will stay hot for at least 2 more years

by | Jul 31, 2023 | Stock Market

Wall Street has wondered how much longer the good times will last for the concert industry, after it roared back to life last year following two years of pandemic shutdowns. But executives at Ticketmaster parent and concert-venue operator Live Nation Entertainment Inc. said those trends could go on for another two years, as bigger, global tours help expand the company’s international footprint, and the company buys its way into a bigger share of the market.

“We think we’re headed to a very, very strong 2024, 2025 onward,” Chief Executive Michael Rapino said on Live Nation’s
earnings call on Thursday. He added: “The consumer demand is growing, and our ongoing bolt-on acquisitions, venues, new market entries, compounded on top of our organic growth is going to give us this continual one-two punch of growth for the next multiple years.” Shares of Live Nation were up 2.8% on Friday, after the company’s second-quarter results a day earlier scorched past analysts’ expectations. Live Nation’s stock is up 42.8% so far this year. When the pandemic first hit in 2020, some analysts believed Live Nation, which already dominates the concert industry, could become even bigger, as struggling venues and other companies dependent on concert …

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