Photo Credit: Abigail Lynn
Live Nation reports record-setting revenues in 2024, with its fourth-quarter revenue clocking in at $5.68 billion — more than consensus estimates of $5.67 billion.
Everything is coming up Live Nation. The company reported its fourth-quarter earnings for 2024, putting its year-end revenue at a record-setting $23.16 billion. Live Nation’s stock price closed at $152.32, up 8.58% in the last three months, and up $62.93% overall in the last 12 months.
Live Nation reported an operating income of $825 million, with adjusted operating cash flow of over $2.15 billion. Adjusted operating income for concerts is at a record high, up 65% to $530 million with margins of 2.8%. Concert attendance is also up 4%, with 151 million fans attending over 50,000 Live Nation events, up 9%. Meanwhile, sponsorship adjusted operating income is up 13% to $764 million.
“2024 was live music’s biggest year yet, as artists toured the world and fans turned out in record numbers,” said Live Nation President and CEO Michael Rapino. “2025 is shaping up to be even bigger, thanks to a deep global concert pipeline, with more stadium shows on the books than ever before.”
The company further reports 2025 kicked off with a bang, with stadium shows in the pipeline up 60% through mid February. 65 million tickets have sold for Live Nation concerts thus far in 2025, up double-digits led by stadium and international activity. Live Nation subsidiary Ticketmaster transacted ticketing volume at over 3% ahead of last year, to 106 million tickets, with concert activity driving the vast majority of growth.
In 2024 specifically, concerts delivered record revenue and profitability last year versus 2023, with revenue up 2% to $19 billion. Arena and amphitheater activity drove fan count to 151 million, despite 30% fewer stadium shows.
US stadium and arena tours are selling through over 75% in the first week onsale at a higher rate than the same time last year. Artists who are touring in 2025 and recently toured between 2022 and 2024 are averaging double-digit growth in tickets sold per show and gross revenue per show.
Over 60 million fans attended shows in Live Nation-operated venues in 2024, up double-digits, with North America and Latin America driving almost all growth. Revenue from premium offerings in amphitheaters are up over 20%, with ancillary per fan spend at major festivals of 100,000 fans or more growing double digits, driven by VIP ticket upgrades and increased food and beverage sales.