Consumers are strained by everything from high food prices to soaring rents and mortgage costs — but aren’t giving up live music. Two years after the concert industry roared back to life in the wake of the COVID pandemic, Live Nation had another. Revenue grew 7% to more than $6 billion while adjusted operating income climbed 21% to $716 million. North America was particularly strong, as fan attendance climbed 17% and amphitheater attendance rose about 40%. in which Live Nation had revenue of $3.
But Live Nation, the world’s largest promoter, isn’t seeing anything out of the ordinary, said Berchtold. Cancellation rates “historically run kind of 4%-5% of shows about a percent and a half of fans,” he said, and this year’s cancellations are “bsolutely in line with historical trends. I think most of the reports that we’ve seen have been efforts to take one or two data points out of a very large number of tours and shows, and we’re just not seeing anything unusual there.