Live Nation Entertainment's concert revenue from 2008 to 2023
In 2023, Live Nation's concert revenue amounted to 18.76 billion U.S. dollars, up from 13.5 billion generated in the previous year. Whilst the company's revenues had been growing steadily over the last decade, 2020 was a difficult year; In early March 2020, the coronavirus outbreak severely impacted the events industry as governments and companies were forced to close venues and cancel events in a bid to protect the public and prevent the further spread of the disease. Live Nation's share price was hit hard, but only time will tell how deeply affected the company will be as a result of the pandemic.
Live Nation Entertainment's concert revenue
Live Nation Entertainment draws revenue from the following segments of its activities: sponsorship and advertising, ticketing and concerts. The concert business involves operating music venues and promoting the live music events taking place.
In 2022, after two years of weak results, Live Nation Entertainment managed to peak at its concert revenues, hopefully sparking a period of growth for the company. The live event promoter organized an increasing number of concerts and festivals around the world, helping to drive revenues. At its peak, the company promoted over 40 thousand events. However restrictions on events due to the coronavirus outbreak resulted in only around eight thousand events taking place in 2020.
Live music is a popular and profitable form of entertainment. In 2021, the tour that brought in the highest revenue globally was The Rolling Stones tour, which generated over 9.62 million U.S. dollars despite the tough year. In 2022 in North America, Bad Bunny's music tour ranked first, generating 356 million dollars.
