Taylor Swift and Beyonce concerts deliver record-breaking earnings for Live Nation

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Live Nation Entertainment has Taylor Swift and Beyoncé to thank for propelling the live concerts organizer to its strongest quarterly results to date.

The parent company of Ticketmaster, which drew the wrath of Swifties and lawmakers after botching ticket sales for the wildly successful Taylor Swift Eras Tour, on Thursday reported third-quarter 2023 revenue of $8.3 billion, up 32% from a year ago."Today we delivered our strongest quarter ever and are on pace for a record 2023," Live Nation CEO Michael Rapino said in a statement.

To be sure, live concerts returned with a bang in 2023, with Taylor Swift and Beyoncé becoming the hottest tickets in town. But a slew of stars took to the road this year, including Pink, Harry Styles, Bad Bunny, the Jonas Brothers and Bruce Springsteen. Separately, the Wall Street Journal on Thursday reported that the Justice Department is investigating Live Nation for using anticompetitive practices to book venues and top talent and manage their ticket sales, citing people familiar with the matter. It reported that the probe is into whether these agreements limit venues' ability to work with other ticket services.

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