Last year, tickets and concert company Live Nation took full advantage of people’s desire to visit concerts again after the corona years.
The parent company of concert organizer Mojo saw a quarter more visitors to the concerts that the company organized. It sold half as much money on tickets for its own performances and those of other organizers.
The growth came mainly outside the United States, according to Live Nation. In many cases, longer corona restrictions were in force there. That gives Live Nation the opportunity to grow even further as more countries are ‘open’ again for a full year this year.
Research by Live Nation also shows that people like to go to performances and festivals again. It is one of the last things people skimp on, it turned out. Even in these times of high inflation.
Concern about resale
But things like the professional resale of concert and festival tickets are becoming a thorn in the side of more and more people. Live Nation also states that it wants to counter this and has made its own proposal for a law on this in the United States. It also includes clarity for fans about all costs. There was recently a fuss about this in the Netherlands because of the costs that the company charged for the resale of Lowlands tickets.
Live Nation’s revenue was $16.7 billion last year, an increase of 44 percent. The company had a net profit of $ 409 million, the first profit after two corona years with significant losses.
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