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Concert events large Stay Nation has reported document outcomes throughout all its divisions for Q1 2023.
For the primary time in three years, all markets the place the corporate operates have been absolutely open, and in line with Michael Rapino, Stay Nation’s President and Chief Govt Officer, “from ticket gross sales, to attendance, and onsite spend – each signal factors to unimaginable demand for reside occasions”.
Rapino instructed buyers in a press release on Thursday (Could 4), that “the widespread theme we’re seeing world wide is that reside experiences are a excessive precedence for followers.”
When it comes to funds, throughout all divisions, together with Concert events, Ticketing, Sponsorship & Promoting, Stay Nation generated revenues of $3.1 billion in Q1, up 73%.
Breaking down the corporate’s monetary outcomes reveals that its live shows enterprise generated $2.28 billion in Q1, up 89% YoY.
Stay Nation’s ticketing enterprise, in the meantime, generated $677.7 million, up 41% YoY.
Sponsorship & Promoting revenues at Stay Nation reached $170.1 million, up 47% YoY (see under).
When it comes to attendance numbers, the corporate studies that over 19 million followers attended its exhibits throughout 45 nations in Q1, 7.5 million of which attended exhibits in North America.
The corporate additionally breaks down its attendance for Q1 by venue sort and site, reporting that when it comes to Stadiums, its attendance greater than quadrupled to 3.3 million followers in Q1 2023, up from 800,000 in Q1 2022. This progress primarily got here from the corporate’s Asia Pacific and Latin America markets.
On the Arenas stage, Stay Nation studies that 6.7 million followers attended its exhibits in Q1 2023, up 3 million or nearly 80% versus Q1 2022, largely on account of progress in Europe and Australia touring.
On the Theaters and Golf equipment stage, Stay Nation’s fan depend was up 45% YoY in Q1 2023.
Stay Nation additionally studies that it offered over 145 million tickets in Q1 “with document ranges of exercise throughout all markets”.
Some of the spectacular stats of all to be reported by Stay Nation for Q1, nonetheless, was that, “at peak sale instances throughout the first quarter of 2023”, its ticketing division Ticketmaster “offered 15,000 tickets per minute in North America”.
Stay Nation says that Ticketmaster is forecast to ship “document exercise” in 2023, with round 600 million tickets set to be managed by the division globally this yr.
Rapino identified in his be aware to buyers on Thursday that “in live shows [Live Nation], have offered practically 90 million tickets for exhibits this yr, monitoring greater than 20% forward of this level final yr”.
“These early gross sales have been pushed by a document variety of stadium exhibits and continued robust progress in enviornment excursions,” added Rapino. “With many main excursions – from Beyoncé to Drake to Bruce Springsteen – demand was so robust that even when artists added plenty of further exhibits, they nonetheless weren’t in a position to meet all the fan demand.”
In response to Stay Nation, “over 99.9% of all Ticketmaster transaction[s] have been processed with none points throughout the first quarter of 2023”.
The corporate’s common ticket costs on major tickets rose by 16% in Q1 2023 in comparison with Q1 2022, pushed, in line with Stay Nation, “by fan demand for one of the best seats, notably at live shows”.
The corporate additionally studies that [the] common secondary ticket worth “stays near double that of a major ticket, persevering with to point out the extent to which live shows and different reside occasions stay priced under market worth”.
Credit score: Stay Nation/press
“Our outcomes for the primary quarter exhibit the success of our technique and units us up for robust progress in 2023.”
Michael Rapino
Commenting on the corporate’s newest end in a press release to buyers on Thursday, Rapino mentioned: “What is obvious as we take a look at our outcomes and working metrics is that international demand for reside occasions continues to succeed in new heights – demand has been rising for a very long time and is exhibiting no indicators of letting up. Speaking to followers, they are saying that reside experiences are the primary leisure class the place they count on to spend extra sooner or later. Naturally, that is resulting in document ranges of exercise in each our live shows and ticketing companies.
Added Rapino: “Our outcomes for the primary quarter exhibit the success of our technique and units us up for robust progress in 2023. We count on to host a document variety of followers this yr, even towards a 2022 comparability which benefited from rescheduled exhibits attended by 20 million followers. Ticketmaster must also ship document exercise, with round 600 million tickets managed globally this yr. Our sponsorship enterprise, even after unimaginable progress final yr, appears to be like to be on observe for double-digit AOI progress once more this yr.
“As we then look to 2024 and past, we’ve got all the required levers to construct our flywheel globally and proceed to compound AOI by double-digits for the foreseeable future.”
