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Axios
04-05-2025
- Business
- Axios
Live Nation says it's poised for a summer concert boom
Live Nation reported Thursday that 74% of its overall Q1 earnings came from concert revenue — and it's expecting the feverish ticket sales to run through summer. Why it matters: Despite recession fears and anxiety over tariffs, Americans aren't skimping on live music. Kendrick Lamar and SZA kicked off their "Grand National Tour" in April, which made Lamar the first rapper in history to gross more than $9 million from a single show, per Touring Data, for opening night. Beyoncé also embarked on her "Cowboy Carter" stadium tour last month, which Live Nation said was at 94% capacity a month after pre-sales started. Lady Gaga, The Weeknd, Billie Eilish, Dua Lipa, and Tyler, the Creator will all be starting or continuing global tours that stretch through the summer season. Driving the news: Live Nation, which owns Ticketmaster, forecast the summer while announcing its first quarter earnings. It reported $3.38 billion in revenue — down 11% from the previous year. That beat analyst expectations, though, according to FactSet. Concert revenue made up $2.5 billion of that figure. Deferred revenue, or the money that Live Nation collects and holds from its own venues until an event is staged, increased to $5.4 billion — up 24% from last year. The intrigue: Tariffs and cuts to the federal workforce may lead some wary consumers to slow their spending, Axios' chief economic correspondent Neil Irwin wrote in March. Zoom in: Live events have surged in attendance post-COVID lockdowns, with Live Nation saying that artists big and small are driving crowds. Taylor Swift's two-year "Eras Tour," which began in 2023, became the first tour to gross over $2 billion. Beyoncé's "Renaissance Tour," which also began in 2023, raked in nearly $600 million and shattered the artist's own record for highest grossing month of a world tour. By the numbers: Live Nation said that the number of shows playing in stadiums is up 60% from last year. The company added that demand for "emerging artists" is also strong, with sales up 8%. Concert attendance in Latin America is also rising, Live Nation said, up more than 25% from the year before. What we're watching: Strong concert attendance is good news for Live Nation, which has been in hot water with both fans and the Justice Department over the cost of tickets. Last May, the Justice Department announced an antitrust lawsuit against the Ticketmaster parent, ultimately joined by 40 state attorneys general. Federal lawmakers are also trying to make it harder for bots to cut in line to buy tickets. Fan frustration with being priced out for recent Beyoncé, Taylor Swift, and Lady Gaga tours have led to increased scrutiny of Ticketmaster's pricing.
Express Tribune
30-04-2025
- Entertainment
- Express Tribune
Kendrick Lamar brings out Playboi Carti in Atlanta for surprise performance during Grand National Tour
Kendrick Lamar delivered a high-voltage moment at Atlanta's Mercedes-Benz Stadium on Tuesday night (April 29), surprising fans by bringing out Playboi Carti during his Grand National Tour stop. 🚨Kendrick Lamar brought Playboi Carti out to play their song "GOOD CREDIT" 🔥👀 — CapoFL (@CapoFL_) April 30, 2025 The crowd erupted when Carti appeared on stage to perform 'GOOD CREDIT,' the duo's recent collaboration. With Carti's chaotic energy and Lamar's precise delivery, the pair lit up the stage in what's already being hailed as one of the tour's standout moments. 'If someone told me five years ago Kendrick and Carti would share a stage, I'd call you crazy,' one fan posted on X. The Grand National Tour, co-headlined by Kendrick Lamar and SZA, launched on April 19 in Minneapolis and is set to hit major cities including Los Angeles, New York, Chicago, and London. According to Touring Data, the tour's opening night grossed over $9.1 million — a record-setting figure for the venue. Early projections suggest the tour could surpass $100 million in total revenue. Atlanta's performance not only reinforced Lamar's reputation for creating unforgettable live experiences, but also highlighted the dynamic chemistry between two artists with vastly different styles. The Grand National Tour continues across North America and Europe through the summer of 2025, with fans eagerly awaiting what surprises might come next.
