However, legislators remain concerned with the issue of monopoly and a lack of competition in the live event-space. The venues in your area also host presales . We innovate and invest in our technology more than any other ticketing company, and we will continue to do so. Updated. That Ticketmaster continues to be the leader in such an environment is a testament to the platform and those who operate it, not to any anticompetitive business practices. By continuing past this page, you agree to our terms of use. Event Views Navigation Its sponsorship revenue is up 64% to around $1 billion, and its ticketing fee-bearing gross transaction value is up 54% to $27.5 billion. Search for Events by Keyword. Nearly 1,000 Shows Available from Alanis Morissette, Chicago, Jonas Brothers, Kings of Leon, Lil Baby, Pitbull, Trippie Redd, Zac Brown Band, and Many More, Exclusive T-Mobile Presale Begins Tuesday, July 27th at 12pm ET/9am PT, $20 Tickets Available To General Public Starting Next Wednesday, July 28th at 12pm ET/9am PT at LiveNation.com. Sign up for email updates from Live Nation. As Live Nations outdoor venues across the U.S. begin to open, the time is here to get outside and catch live music with friends, family and loved ones at over 40 Live Nation amphitheaters all across the country. Tickets will be $25 for adults and $5 for high school age and under. The company was forced to extend presales after fans flocked to the site, causing site disruptions and slow queues. Best Live Nation Coupon Codes & Deals. Get this delivered to your inbox, and more info about our products and services. Reserved Tickets to the hottest shows. Yes, I want to receive email updates from Live . Find P!NK tickets on Australia | Videos, biography, tour dates, performance times. Risk Factors of the companys most recent Annual Report filed on Form 10-K, and Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in the companys projections or forward-looking statements. The $20 tickets will be available to the general public starting next Wednesday, July 28th at 12pm ET/9am PT on LiveNation.com for a limited time only, while supplies last. Cash from shows that played off (841) Estimated refunds from Live Nation cash (174) Other / Net. We will always be on the side of the artist, who are the best advocates for their careers and their fan base.. Buy concert tickets for top tours and festivals - Live Nation is your premier source for latest tour news, artist insights, exclusive videos, photos, and more. Operating Income was up 95% to $506 million, with all divisions up at least 60% and AOI was up 45% to $621 million, with all divisions up at least 25%. In his letter to investors, Michael Rapino highlighted the results from the companys embattled but highly lucrative Ticketmaster division, noting, We grew our fee-bearing ticket volume by 28% from 2019 to 280 million, which in turn drove our fee-bearing [gross transacted value] up by over 50% vs 2019 to $28 billion across 38 countries. Number of shows for 2022 not representative of 2023 season. Over the course of the summer, we also continued to see strong on-site per fan spend with no reduction in consumer buying habits. Live Nation proposed the changes on the same day it reported record sales of $16.7 billion for 2022, more than double a year ago and up 44% from 2019, the last normal year before Covid-19. Service 41. Sign up for free newsletters and get more CNBC delivered to your inbox. Teeth Like God's Shoeshine. 15% OFF. Concerts drove 80% of the growth in primary GTV while concerts and sports together accounted for over 90% of our secondary GTV growth. 1 Personalized pass that acts as your ticket to the Allegiant.com Lawn for iTHINK Financial Amphitheatre's 2023 season* . Ticketmaster was supposed to open up sales for 1.5 million verified Taylor Swift fans last month ahead of general public ticket sales. Club Deadspin Description. Select your desired concert/event city and date. Pick your preferred seat (from an interactive seating chart that allows you to see exactly where each seat is located). Sign up for email updates from Live Nation. 27. Do they really need to be taking as much as 20% of artists' merchandise sales? Attendance at its events was up 24%, with more than 121 million fans attending 43,600 events and ancillary per-fan spending up 20% across all major venue types. We promoted more than 43,600 live music and other events in 2022. But she indicated that her team inquired in advance of the sale if they could handle this kind of demand and we were assured they could.. Ticketmasters advance pre-sale registration system was so overloaded as to malfunction. 29. The Department of Justice can reverse this merger and bring competition back to the industry. 01 March 2023 - 11:54. ', Chris Pine Admits It Did Look Like Harry Styles Spit on Me, but He Did Not: The Vitriol Against Dont Worry Darling Was Ridiculous, HBO's Leading Man: Casey Bloys on Perfecting 'The Last of Us,' HBO Max Streaming Merger and Axing Shows, A24 Sweeps Film Categories at the 2023 SAG Awards as 'Everything Everywhere All at Once' Breaks Record for Most Wins, Jean Smart 'Doing Well, Recovering' Following Heart Procedure, Says Hacks Co-Star Hannah Einbinder, Ke Huy Quan Becomes First Asian Male Film Winner at SAG Awards for 'Everything Everywhere All at Once'. "Its merger with LiveNation should never have been approved, and they need to be reigned in. Free cash is not calculated or presented in accordance with GAAP. Prega Govender Journalist. People amplified their complaints this week when tickets for Swift tickets went on presale on Ticketmaster's website. We asked Live Nation a number of questions about competition both at the hearing and afterwards, but it has largely failed to answer themLive Nations responses amount to trust us. We believe that is wholly insufficient, they added. Zip Code. In Live Nation's 2022 SEC filing, the corporation breaks down its yearly numbers, explaining, "Our concerts business generated $13.5 billion, or 80.9 percent, of our total revenue during 2022. We want to hear from you. Greg Maffei, who also chairs Live Nation's board of directors, said Ticketmaster opened pre-sale access to 1.5 million "verified" Taylor Swift fans, fans who are selected to receive pre-sale . Participating artists include some of todays biggest acts across genres including Country, Hip-Hop, Latin, Metal, Pop, Rock, and more. Expires. Representatives from Live Nation did not immediately respond to CNBC's request for comment. Concert fans are showing no signs of slowing down they are paying more for the best tickets, attending the shows, and spending more onsite as they create lifetime memories, Michael Rapino, president and chief executive of Live Nation said Friday. ', Chris Pine Admits It Did Look Like Harry Styles Spit on Me, but He Did Not: The Vitriol Against Dont Worry Darling Was Ridiculous, HBO's Leading Man: Casey Bloys on Perfecting 'The Last of Us,' HBO Max Streaming Merger and Axing Shows, A24 Sweeps Film Categories at the 2023 SAG Awards as 'Everything Everywhere All at Once' Breaks Record for Most Wins, Jean Smart 'Doing Well, Recovering' Following Heart Procedure, Says Hacks Co-Star Hannah Einbinder, Ke Huy Quan Becomes First Asian Male Film Winner at SAG Awards for 'Everything Everywhere All at Once'. Ticketmaster learned "valuable lessons" when the Taylor Swift concert tickets sale last year was disrupted by record bot traffic, the parent company will tell a U.S. Senate committee on Tuesday. We may earn a commission from links on this page. We innovate and invest in our technology more than any other ticketing company, and we will continue to do so, Live Nation wrote (full statement below). Max four tickets per Offer Passcode. Sign up for email updates from Live Nation. that demand for ticket sales will follow as more concerts are announced . The market is increasingly competitive nonetheless, with rivals making aggressive offers to venues. $ 2,018.3. 44 Concerts Rocked the 2022 Season! A Free State teacher has been fired after he was found guilty of improper and disgraceful conduct when he asked a matric pupil to hug and kiss him. Ticketmaster has a significant share of the primary ticketing services market because of the large gap that exists between the quality of the Ticketmaster system and the next best primary ticketing system. For the past 12 years Live Nation has operated under a Consent Decree that among other things seeks to prevent anticompetitive leveraging of Live Nation promoted content to advantage Ticketmaster. Follow your favorite artists, venues or shows on their social media pages. Live Nation took a hard hit during the pandemic and was forced to cancel all its tours. "They're hiking up ticket prices, charging rip-off junk fees, and exploiting artists, independent venues, and fans. Weighted average common shares outstanding: Reconciliation to net income (loss) available to common stockholders of Live Nation: Accretion of redeemable noncontrolling interests, Net income (loss) available to common stockholders of Live Nationbasic, Net income (loss) available to common stockholders of Live Nationdiluted, Amortization of non-recoupable ticketing contract advances, Amortization of debt issuance costs and discounts, Unrealized changes in fair value of contingent consideration, Equity in losses of nonconsolidated affiliates, net of distributions, Provision for uncollectible accounts receivable, Gain on sale of investments in nonconsolidated affiliates. The Department of Justice itself recognized the competitive nature of the concert promotion business at the time of the Live Nation-Ticketmaster merger. Michael Rapino The non-fee-bearing tickets estimated above include primary tickets sold using our Ticketmaster systems, through season seat packages and our venue clients box offices, along with tickets sold on our do it yourself platform. P!NK will also be performing on Sunday, November 20 at the 2022 American Music Awards on ABC at 8PM ET/PT. Good Days. The firm said today the coronavirus is having less of an impact on planned events, noting that it only canceled about 1% of planned concerts in March. Variety is a part of Penske Media Corporation. November 18, 2022 10:44am. That Ticketmaster continues to be the leader in such an environment is a testament to the platform and those who operate it, not to any anticompetitive business practices. Get tickets for Guns N' Roses at Mississippi Coast Coliseum on WED Sep 20, 2023 at 6:30 PM . Others complained about the long wait times and confusion over "verified fan" tickets and presale codes. Platform integrations have been our greatest growth driver with online partnerships, as we continue to drive value and monetize opportunities via Ticketmasters purchase process, with non-service fee revenues up double-digits relative to 2019. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made. Help us demand that they do.". Ticketmaster has long maintained a stronghold on concert ticket sales in the United States. Citi cardmembers will have access to . This includes primary tickets sold during the year regardless of event timing, except for our own events where our concert promoters control ticketing which are reported when the events occur. Events generally represent a single performance by an artist. AOI is not calculated or presented in accordance with GAAP. Currency impacts (25) Ticket sales in the third quarter of 2021. This will be our 15th . Its only fair that they create their ticketing rules, too. At the same time, our operated venues successfully hosted more fans, with attendance up 14% relative to Q3 2019 to 19 million fans for the quarter, and 38 million fans year-to-date. While idealistic in ways, these measures, if enacted as stated, would address at least some of the very legitimate complaints that have been leveled at Ticketmaster and the ticketing industry overall in recent years. 2023 Live Nation Worldwide, Inc. All rights reserved. There's something about Taylor Swift and breakups. Book online, view seating plans. Variety is a part of Penske Media Corporation. Yes, I want to receive email updates . Get tickets before anyone else with our exclusive concert ticket presales. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise. Reconciliation of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures (Unaudited), Reconciliation of Free Cash FlowAdjusted to Net Cash Provided by Operating Activities, Less: Changes in operating assets and liabilities (working capital), Distributions to noncontrolling interests, Net cash provided by (used in) financing activities, Net cash provided by operating activities, Reconciliation of Free Cash to Cash and Cash Equivalents. All Rights Reserved. 2023 NYP Holdings, Inc. All Rights Reserved, Hindu, Buddhist leaders complain about very painful NY beer, AOC trashes ticket monopoly after Taylor Swift tour snafu, Too big to be safe? See Show Calendar . On Friday evening, Live Nation issued an impassioned defense of the much-maligned Ticketmaster with a long statement asserting that the platform was the most transparent and fan-friendly service of its kind available. Buy Live Nation - Eventer tickets from the official Ticketmaster.ca site. Addressing the monopoly accusations around the company, he added, On the regulatory front: The ticketing industry is more competitive than ever, and our market share has gone down, not up, since the Ticketmaster merger. Ticketmaster which controls 70% of the market for ticketing and live events according to CNBC canceled its so-called public sale of . 2023 CNBC LLC. Notably, these are all things that Live Nation and Ticketmaster could choose to do internallybut instead, the company and its subsidiary are punting the problem to lawmakers. $20 Tickets Available To General Public Starting Next Wednesday, July 28th at 12pm ET / 9am PT at LiveNation.com. We delivered double-digit attendance growth relative to Q3 2019 across established and emerging markets around the globe from North America to Europe to South America, showing our long runway of global growth. 11/18/2022 06:28 PM EST. With Giving Assistant, you have access to the most recent Live Nation coupons, making it more affordable to get out of the house and have a little fun. The website features thousands of events from all over the country, but you can easily narrow your search to a specific geographic location or one type of event. % of artists & # x27 ; merchandise sales ( 25 ) ticket sales in United... Exclusive concert ticket presales be $ 25 for adults and $ 5 for high school age under... Taking as much as 20 % of the date on which they are made we innovate and invest our. Junk fees, and they need to be reigned in monopoly and a lack of competition in the Nation-Ticketmaster... Confusion over `` verified fan '' tickets and presale Codes seat is located ) find P NK... Of shows for 2022 not representative of 2023 season * social media pages represent single. Presale Codes that acts as your ticket to the site, causing site and. 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