Live Nation Entertainment Inc. on Thursday said that concert-ticket sales have increased this year, albeit at a slower rate so far, following an explosion in demand over the past two years. Executives for the company, which owns Ticketmaster and runs dozens of concert venues, said concert-ticket sales this year were “pacing up 6%,” with sales at amphitheaters and arenas up double-digits.
That compares with a 44% sales jump last year in its concerts business, which involves concert promotions and production, and a 14% increase in its ticketing segment, which handles selling tickets. For this year, management said it expected growth to be “weighted toward 2Q and 3Q compared to previous years.” “The live-music industry reached new heights in 2023, and demand for live music continues to build,” Chief Executive Michael Rapino said in a statement. “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,” he said. He added that he expected all of the company’s busi …
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That compares with a 44% sales jump last year in its concerts business, which involves concert promotions and production, and a 14% increase in its ticketing segment, which handles selling tickets. For this year, management said it expected growth to be “weighted toward 2Q and 3Q compared to previous years.” “The live-music industry reached new heights in 2023, and demand for live music continues to build,” Chief Executive Michael Rapino said in a statement. “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,” he said. He added that he expected all of the company’s busi …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]