The ticketing giant recorded first quarter revenue of $1.8 billion, up from $290 million in the year-earlier quarter impacted by COVID-19.
Notably, executives said inflation does not appear to be impacting consumer demand or pricing on the ticket sales.
Sponsorship sales are up double-digits compared to this point in 2019. The company has already sold 90 percent of its planned sponsorship for the year. Live Nation recorded first quarter revenue of $1.8 billion, up from $290 million in the year-earlier quarter. More than 70 million tickets have now been sold for shows in 2022, up 36 percent from this point in 2019.COVID-19 is having less of an impact on planned events and the company only canceled about 1 percent of planned concerts in March.
“Concert fans are showing no signs of slowing down – they are paying more for the best tickets, attending the shows, and spending more onsite as they create lifetime memories,” Michael Rapino, president and chief executive of Live Nation, wrote in the earnings release.
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