Swift shared her anger at the situation as well, telling fans via Instagram that she was upset that her fans faced so many hurdles and headaches. And in ticketing, we expect to benefit from these market pricing trends, while also continuing to globally add new clients to our world-class platform. These include giving performers the ability to decide their own ticket resale rules, outlawing the sale of speculative tickets (i.e. Thats why the company, which faced massive public pushback earlier this year in the aftermath of a Taylor Swift ticket sale meltdown, has proposed a (kind of) solution. scalpers that lie), expanding restrictions on automated ticket buying programs, cracking down on resale platforms, and mandating more transparent ticket pricing. Josh Groban, one of the Live Nation artists whose . This free cash, along with $565.9 million of available debt capacity, gives the company $2.6 billion of available liquidity. By continuing past this page, you agree to our .css-6nxit1{transition-property:var(--ln-transition-property-common);transition-duration:var(--ln-transition-duration-fast);transition-timing-function:var(--ln-transition-easing-ease-out);cursor:pointer;-webkit-text-decoration:underline;text-decoration:underline;outline:2px solid transparent;outline-offset:2px;color:var(--ln-colors-white);}.css-6nxit1:hover,.css-6nxit1[data-hover]{color:var(--ln-colors-live);}.css-6nxit1:focus,.css-6nxit1[data-focus]{box-shadow:var(--ln-shadows-outline);}.css-6nxit1:active,.css-6nxit1[data-active]{color:var(--ln-colors-live);}Terms of Use. These ticket metrics are net of any refunds requested and any cancellations that occurred during the period, which may result in a negative number. Senators alike. Democrats in the US . Live Nation, Ticketmaster may need breakup, some senators say Reuters [1/2] Taylor Swift poses on the red carpet for the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf . Indeed, that's a 166-percent increase almostthree-fold over 2021 revenue of $6.27 billion (Variety). 10% OFF. Addressing the monopoly accusations around the company, he added, On the regulatory front: The ticketing industry is more competitive than ever, and our market share has gone down, not up, since the Ticketmaster merger. Michael Rapino 594-3708 GROUP SALES : (228) 287-7825 (MS Surge Hockey Office) Venue Seat Map. Find Events. A limitation of the use of FCF as a performance measure is that it does not necessarily represent funds available for operations and is not necessarily a measure of our ability to fund our cash needs. Data is a real-time snapshot *Data is delayed at least 15 minutes. His Love On Tour shows were postponed due to the pandemic and finally started in September 2021 in Las Vegas. For too long, Live Nation and Ticketmaster have wielded monopoly power anticompetitively, harming fans and artists alike, the Senators wrote in the February 23 letterthe second letter penned by Klobuchar regarding Ticketmaster in the past three months. Overall, quarterly revenue at Live Nation, which runs music festivals like Lollapalooza and Governors Ball, jumped to $1.8 billion, up from $290 million in the year-earlier quarter. If you need further assistance, we'll transfer you to an agent. If you cannot attend an event after purchasing tickets, contact Live Nation. Add your coupon code by clicking "Apply Voucher Code" and view your adjusted price with the discount applied. Sign up for email updates from Live Nation. 45 Million Tickets Already Sold for 2022 Shows, with Pricing on Top 10 Tours Up Over 20% (vs 2019) Sponsorship Commitments Up Double-Digits Relative to 2019, Already Over 80% Sold For Year Live Nation Entertainment, Inc. (NYSE: LYV) today released financial results for the quarter and full year ended December 31, 2021. In 2010, the retailer merged with Live Nation, the promoter, to become a singular company. In our sponsorship business, confirmed commitments are up 30% from this time last year, showing the resiliency and long-term commitments that brands have for our business. Maybe its the hottest boy band in the country coming to a stadium near you, or perhaps its a jazz band that puts you in a soulful mood. 2. . Sign up for email updates from Live Nation. Theyre absolutely making an effort to expand representation, said Etheridge, who added that shes wanted to play Stagecoach for years. Ticketmaster. See Show Calendar . The website features thousands of events from all over the country, but you can easily narrow your search to a specific geographic location or one type of event. Representatives from Live Nation did not immediately respond to CNBC's request for comment. Some of these events require nothing more than a password that is given to you during the email alert, so you get your tickets before the general public. Activists and lawmakers are renewing calls to split Ticketmaster and Live Nation after a fiasco over ticket sales for the pop superstar's upcoming "Eras" tour, which is slated to kick off in March. Includes: Entry to concerts at your selected venue* Seamless venue entry using Fast Lane** General parking** Accordingly, AOI should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. The market is increasingly competitive nonetheless, with rivals making aggressive offers to venues. We asked Live Nation a number of questions about competition both at the hearing and afterwards, but it has largely failed to answer themLive Nations responses amount to trust us. We believe that is wholly insufficient, they added. Currency impacts (25) Ticket sales in the third quarter of 2021. All Rights Reserved. RT @future_of_music: Live Nation-Ticketmaster reports total 2022 income of $732 million, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record. Tickets will be $25 for adults and $5 for high school age and under. Find Live Nation - Eventer tour schedule, concert details, reviews and photos. Print your tickets from home or pick them up at the event. Shows of all types continue having strong demand, with double-digit attendance growth across all venue types including clubs, theaters, amphitheaters, arenas, stadiums and festivals. Yes, I want to receive email updates . The "Eras" tour could break Swift's own record for gross ticket sales in North America. Free Cash Flow Adjusted, or FCF, is a non-GAAP financial measure that we define as net cash provided by (used in) operating activities less changes in operating assets and liabilities, less maintenance capital expenditures, less distributions to noncontrolling interest partners. 2023 Live Nation Worldwide, Inc. All rights reserved. No serious argument can be made that Ticketmaster has the kind of market position in secondary ticketing that supports antitrust claims. See Show Calendar . 2023 Live Nation Worldwide, Inc. All rights reserved. Explore Thomas Rhett tour schedules, latest setlist, videos, and more on livenation.com The scope of the BOTS Act needs to be expanded and enforced to deter those who break the law, cheating artists and fans in the process. Based on current pacing, we expect to host more than 50 million fans at our festivals and Venue Nation division this year. Shipping 20. Find concert tickets for HARDY upcoming 2023 shows. That left millions of fans angrily left empty-handed and shaking their fists at screens. Fans of Taylor Swift encountered a number of issues while trying to obtain tickets to the singer's latest tour via Ticketmaster. 29. We promoted more than 43,600 live music and other events in 2022. Find full tour schedules, seating charts and concert venue details at Ticketmaster.com. About Live Nation . Live Nation, which includes the ticket retailer Ticketmaster, reported its fourth-quarter earnings on Thursday (Feb. 23), showing its total 2022 revenue reached a record $16.7 billion, according toBillboard. Events and fan attendance metrics are estimated each quarter. "Daily reminder that Ticketmaster is a monopoly," Rep. Alexandria Ocasio-Cortez, D-N.Y., wrote in a Tweet Tuesday. Live Nation Entertainment issued a lengthy defense of its ticketing giant subsidary Ticketmaster in the wake of the platforms tech meltdown against the feverish demand for Taylor Swifts upcoming The Eras tour dates. T-Mobile and Sprint customers can score exclusive 24-hour early access to the $20 all-in tickets through T-Mobile Tuesdays starting Tuesday, July 27th at 12pm ET/9am PT. P!NK will also be performing on Sunday, November 20 at the 2022 American Music Awards on ABC at 8PM ET/PT. Updated. Comes with twelve different courses comprised of a huge number of lessons, and each one will help you learn more about Python itself, and can be accessed when you want and as often as you want forever, making it ideal for learning a new skill. People amplified their complaints this week when tickets for Swift tickets went on presale on Ticketmaster's website. Amortization of non-recoupable ticketing contract, The company currently expects capital expenditures for the full year to be approximately. The Department of Justice itself recognized the competitive nature of the concert promotion business at the time of the Live Nation-Ticketmaster merger. As we expected, our performance this quarter was led by our concert business, which held 11 thousand concerts for 44 million fans across nearly 50 countries. Really, it does. We use free cash as a proxy for how much cash we have available to, among other things, optionally repay debt balances, make acquisitions and fund revenue generating capital expenditures. Limited Time. I Hate U. LOS ANGELES, Nov. 3, 2022 /PRNewswire/ Live Nation Entertainment, Inc. (NYSE: LYV) today released financial results for the quarter ended September30, 2022. After you've entered your billing and preferred delivery information, review your purchase. Aslow return of showsin 2021 and a bustling 2022lent to the sum. Twelve days of fun ending at Labor Day. Shipping is not applicable to online ticket purchases. ', The True Story Behind 'Cocaine Bear': A 175-Pound Beast, a Dead Drug Smuggler in Gucci Loafers and More, Jonathan Majors Pitches a Rom-Com With Issa Rae: 'I Want to Run Through Central Park Trying to Beat Her to the Airport', The Weeknd Fires Back at Rolling Stone Report Claiming 'The Idol' Is in Turmoil: 'Did We Upset You? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. We believe that information about FCF provides investors with an important perspective on the cash available to service debt, make acquisitions, and for revenue generating capital expenditures. "Its merger with LiveNation should never have been approved, and they need to be reigned in. Something went wrong on our end and we need to start over. 5 years ago tickets were paper, now you scan in with your phone, and can transfer tickets to your friend with one tap. Harry performed over 43 shows throughout the US at the end of last year winning praise from fans and critics alike. Live Nation saw its shares drop nearly 8% in trading Friday, closing at $66.21, as anecdotal reports spread of fans facing technical nightmares in trying to get into queues for a shot at buying . Club Deadspin PREPAID PARKING PASS ONLY - SZA (Not a Show Ticket), Do Not Sell or Share My Personal Information. Ticketmaster has a significant share of the primary ticketing services market because of the large gap that exists between the quality of the Ticketmaster system and the next best primary ticketing system. Variety is a part of Penske Media Corporation. A ticket will gain entrance to both volleyball matches and the concert. Our sponsorship revenue growth has been broad-based, with North America up 48% and International sponsorship up 93% year-to-date. Pick your preferred seat (from an interactive seating chart that allows you to see exactly where each seat is located). Number of shows for 2022 not representative of 2023 season. 15% OFF. We operate ticketing marketplaces in more than 30 countries around the world and have seen all-in pricing adopted successfully in many countries when mandated across the board. Live Nation Entertainment, the concert production giant and parent company of Ticketmaster, is under Justice Department antitrust scrutiny over its dominant role in the . Accounts receivable, less allowance of $63,761 and $50,491, respectively, Current portion of operating lease liabilities, (in thousands except share and per share data), Selling, general and administrative expenses, Equity in losses (earnings) of nonconsolidated affiliates, Gain from sale of investments in nonconsolidated affiliates, Net income attributable to noncontrolling interests, Net income (loss) attributable to common stockholders of Live Nation, Basic net income (loss) per common share available to common stockholders of Live Nation, Diluted net income (loss) per common share available to common stockholders of Live Nation. 2023 CNBC LLC. In Live Nation's 2022 SEC filing, the corporation breaks down its yearly numbers, explaining, "Our concerts business generated $13.5 billion, or 80.9 percent, of our total revenue during 2022. As of September 30, 2022, total cash and cash equivalents were $5.0 billion, which includes $1.3 billion in ticketing client cash and $2.0 billion in free cash. 1 Personalized pass that acts as your ticket to the Allegiant.com lawn for Blossom Music Center's 2023 season*. Decide how many tickets you wish to purchase. The week-long program celebrates one of the biggest and most exciting years for live music and marks the kick-off to an epic summer concert season. Tickets to the outdoor match will not be part of the Nebraska volleyball season-ticket package and must be purchased separately. Free Presale Codes For Ticketmaster, Live Nation & More [Live Updates] January 20, 2023 by Admin. ", record-breaking new album release "Midnights,". The CEO said inflation doesnt appear to be impacting demand or pricing on ticket sales, adding that concert no-show rates have returned to pre-Covid-19 levels. Live Nation Unloads Heavily Discounted Tickets On Groupon Amid Crowded 2022 Concert Calendar Halsey, Rod Stewart, Big Time Rush, and More. After the credits & lights came up, they previewed the Low video & SZA came back out to say thanks. 27. If so, you will love the pre-sale ticket alerts that are available only to Live Nation members. Zip Code. Yes, I want to receive email updates from Live . Similarly, Sen. Richard Blumenthal, D-Conn., called Swift's tour sale "a perfect example of how the Live Nation/Ticketmaster merger harms consumers by creating a near-monopoly," in a Tweet posted Tuesday. The Department of Justice can reverse this merger and bring competition back to the industry. Live Nation Entertainment, the company thats owned Ticketmaster since 2010, knows its hard out there for music fans. Festival sponsorship has been our largest growth driver on-site to date, as we have effectively leveraged record festival attendance this year and compounded this growth with double-digit increases in per fan sponsorship. The companys CFO Joe Berchtold also claimed that Ticketmaster doesnt set the lofty ticket prices. All Rights Reserved. Discount. Reconciliation of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures (Unaudited), Reconciliation of Free Cash FlowAdjusted to Net Cash Provided by Operating Activities, Less: Changes in operating assets and liabilities (working capital), Distributions to noncontrolling interests, Net cash provided by (used in) financing activities, Net cash provided by operating activities, Reconciliation of Free Cash to Cash and Cash Equivalents. Because of the competitive bidding process, venues regularly take more of the economics on every renewal, as they set and keep a majority of the service fees. Constant Currencyis a non-GAAP financial measure when applied to a GAAP financial measure. "They're hiking up ticket prices, charging rip-off junk fees, and exploiting artists, independent venues, and fans. Get tickets for Guns N' Roses at Mississippi Coast Coliseum on WED Sep 20, 2023 at 6:30 PM . Live Nation, which merged with Ticketmaster in 2010, has faced longstanding criticisms about its size and power in the entertainment industry. The A.V. Festivals are counted as one event in the quarter in which the festival begins, but the number of fans is based on the days the fans were present at the festival and thus can be reported across multiple quarters. 30 Concerts Rocked the 2022 Season! Concert promoter and venue operator Live Nation said it logged its best first quarter ever, thanks to a resurgence in concert going, which juiced sales at its Ticketmaster division. For additional information, visit investors.livenationentertainment.com. This will be our 15th . We may earn a commission from links on this page. Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on the companys plans, the risk that the companys markets do not evolve as anticipated, the potential impact of any economic slowdown and operational challenges associated with selling tickets and staging events. "We cant wait to get back on the road and in front of our fans, it means so much to be able to bring live music back to the people that support us the most," said the Jonas Brothers. Reserved Tickets to the hottest shows. Variety and the Flying V logos are trademarks of Variety Media, LLC. We will continue to advocate for fee transparency in live event ticketing. Others complained about the long wait times and confusion over "verified fan" tickets and presale codes. Last year, a group of U.S. concertgoers sued Live Nation Entertainment the corporation envelopingboth companies for allegedly violating antitrust laws and using what they called "predatory" selling. "Eras" tour tickets are pricedfrom $49 to $450, with VIP packages starting at $199 and reaching $899. Participating artists celebrating the Return to Live concerts include: About Live Nation EntertainmentLive Nation Entertainment (NYSE: LYV) is the worlds leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. We innovate and invest in our technology more than any other ticketing company, and we will continue to do so. Activists have accused Ticketmaster and Live Nation of abusing their market power and called for the company to be broken up. . The Lonesome Crowded West Tour (2022) 9:30 Club, Washington, Washington, D.C. Set 1; 1. Over the course of the summer, we also continued to see strong on-site per fan spend with no reduction in consumer buying habits. Ticket sales for concerts this year were up 34% for the quarter, and now stand at over 115 million tickets sold for shows this year, up 37% from this point in 2019. "Its been a long, difficult year for everyone and were fired up to be reuniting with our crew, sharing new music with our fans, and celebrating a brand new world.". By continuing past this page, you agree to our .css-6nxit1{transition-property:var(--ln-transition-property-common);transition-duration:var(--ln-transition-duration-fast);transition-timing-function:var(--ln-transition-easing-ease-out);cursor:pointer;-webkit-text-decoration:underline;text-decoration:underline;outline:2px solid transparent;outline-offset:2px;color:var(--ln-colors-white);}.css-6nxit1:hover,.css-6nxit1[data-hover]{color:var(--ln-colors-live);}.css-6nxit1:focus,.css-6nxit1[data-focus]{box-shadow:var(--ln-shadows-outline);}.css-6nxit1:active,.css-6nxit1[data-active]{color:var(--ln-colors-live);}Terms of Use. On Sale In -- -- -- . Zip Code. Citi cardmembers will have access to . 2023 Variety Media, LLC.