Live Nation Entertainment President and CEO Michael Rapino attends the Formula 1 Las Vegas Race 2023 announcement at the Boulevard Pool at The Cosmopolitan of Las Vegas on March 30, 2022 in Las Vegas, Nevada.Live Nation had another record-setting quarter as music fans swarmed to concerts and continued to spend on live entertainment amidst persistent inflation, high gas prices and a resumption in student loan repayments in the United States.
Through the first nine months of 2023, Live Nation’s revenue increased 36% to $16.9 billion and AOI rose 33% to $1.7 billion. Both nine-month figures were greater than Live Nation’s revenue and AOI for full year 2022. Venue Nation, Live Nation’s venue management company for venues it does not own, increased ancillary revenue at operated venues. At amphitheaters, ancillary per-fan revenue was up 10% to $40 year to date. At theaters and clubs, ancillary per-fan spending rose in the double-digits globally.
Sponsorship and advertising revenue rose 7% to $367 million in the third quarter, while the division’s AOI improved 11% to $250 million.
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