Latest news with #live entertainment
Yahoo
5 days ago
- Business
- Yahoo
Live Nation beats revenue estimates on red-hot concert demand
(Reuters) -Ticketmaster-parent Live Nation Entertainment beat Wall Street estimates for second-quarter revenue on Thursday, driven by strong demand for concerts. The results signal continued resilience and growth in the live entertainment industry amid economic uncertainty. Fans are still willing to spend on live experiences such as concerts and events, helping Live Nation Entertainment — a bellwether for discretionary consumer spending and the health of the global entertainment market. "Global expansion continues to drive touring growth, with fan attendance hitting new highs and ticket buying strong at every price point from VIP to the back row," CEO Michael Rapino said in a statement. "To meet this momentum, we're expanding our global venue portfolio and investing in the artists who make it all possible." The company reported a 16% surge in revenue to $7.01 billion, beating analysts' average estimate of $6.84 billion, according to data compiled by LSEG. The majority of its revenue, or about $5.95 billion, came from the concerts business, which consists of merchandise sales and the production of live music events, followed by $742.7 million from ticketing. Live Nation's total estimated events in the April-to-June period fell about 2.6% to 14,292 from last year, but 44.2 million fans attended its shows — compared with 22.3 million in the previous quarter. Total estimated tickets sold in the quarter ended June 30 stood at 155.8 million, compared with 155.1 million in the first quarter. Live Nation said tariffs are expected to have minimal impact on its venue investment costs, festival supply chain and other expenses. The company's quarterly profit came in at 41 cents per share, compared with $1.03 per share a year earlier. Its adjusted operating income stood at $798 million, compared with estimates of $756.1 million.
Forbes
04-08-2025
- Entertainment
- Forbes
Beyoncé May Be Just One Tour Away From Making History
Beyoncé has once again shown that she's not only one of the biggest names in music, but also one of the most formidable forces in live entertainment. With the Cowboy Carter Tour now officially finished, the superstar is even closer hitting one of the rarest milestones in concert history. The Cowboy Carter Tour Grosses Over $400 Million According to Billboard Boxscore, Beyoncé's Cowboy Carter Tour brought in $407.6 million from 1.6 million tickets sold. The country trek was a commercial juggernaut, and its closing sum pushes her career touring gross to more than $1.75 billion. With less than $250 million to go, she's within arm's reach of becoming one of the only artists in history to cross the $2 billion mark in reported touring revenue. Several names, including Taylor Swift, have already managed to pass that massive figure. Back-to-Back Blockbuster Tours The Cowboy Carter Tour ranks as Beyoncé's second-highest-grossing run, trailing only her previous venture, the Renaissance World Tour. That run closed with a record-breaking $579.8 million. Together, the two back-to-back treks have become career-defining moments, and some of the most successful concert tours of all time. A Member of Touring's Most Elite Club With her latest success, Beyoncé becomes the first woman and just the fourth artist overall—t have multiple tours pass the $400 million mark. She joins the exclusive ranks of The Rolling Stones, Coldplay, and Ed Sheeran, cementing her place among the most bankable live acts of all time. Solo Tours Power Her Rise While Beyoncé has certainly found success in collaborations, especially her joint tours with Jay-Z and early career outings with Missy Elliott and Alicia Keys, it's her solo headlining treks that have generated the majority of her touring revenue. From Dangerously in Love to Renaissance, her six solo tours have ranked among her highest-grossing and most far-reaching. The Final Push May Be Coming Soon Bey's Cowboy Carter is the second installment in a planned album trilogy that began with Renaissance. With the third act expected as early as 2026, fans are already wondering whether she'll embark on another stadium-filling tour. If such a venture – which has not been announced – performs on par with her last two, another $300–$400 million in grosses could be enough to push Beyoncé past the $2 billion milestone, possibly by 2027.
