As Live Nation's . Teenage Cybercrime Gang LAPSUS$ Strikes Again, The 2023 Complete Python Certification Bootcamp Bundle, Time to Tackle the Taylor Swift Ticketmaster Turmoil | TechModo. Fan demand for live events was also clear in our ticketing business, as we transacted $6.7 billion of fee-generating GTV on 71 million tickets, up 69% and 42% respectively, relative to Q3 2019. Pursuant to the Amended Decree voluntarily entered in 2020, Live Nations compliance is monitored by a former federal judge. Number of shows for 2022 not representative of 2023 season. The division added seven million net new tickets in the quarter. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. Secondary market prices can be seen ranging from $800 to $20,000 per ticket. 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. Venue Presale. advance, Estimated number of non-fee-bearing tickets. 2023 Live Nation Worldwide, Inc. All rights reserved. We innovate and invest in our technology more than any other ticketing company, and we will continue to do so. Explore HARDY tour schedules, latest setlist, videos, and more on livenation.com Fans around the world continue prioritizing their spend on live events, particularly concerts. 30 Concerts Rocked the 2022 Season! 29. Variety and the Flying V logos are trademarks of Variety Media, LLC. Zip Code. VIRGINIA BEACH (WAVY) You can go see several major music acts at the Virginia Beach amphitheater and across the U.S. this summer and fall for just $20. The Weekend. Ticketmaster does not set or control ticket prices, strongly advocates for all-in pricing so that fans are not surprised by what tickets really cost, and is the undisputed market leader in ticket security and fighting bots. If you need further assistance, we'll transfer you to an agent. Shipping is not applicable to online ticket purchases. Book online, view seating plans. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Ticketmaster is pulling the plug on the general-public ticket sale for Taylor Swift's "Eras" tour that was set to . 11/18/2022 06:28 PM EST. Our strong performance drove AOI of $226 million, 56% higher than Q3 2019. Summer meets music with your 2023 Lawn Pass. Decide how many tickets you wish to purchase. On Thursday, about a month after the committee hearing, Senators Amy Klobuchar and Mike Lee wrote a letter recommending that the Department of Justice continue examining Live Nation and its potential anti-competitive practices. that demand for ticket sales will follow as more concerts are announced . Details of the FAIR Ticketing act can be found here, but broadly speaking, its main tenets state that artists should decide resale rules, which would be an effort to allow artists to take the lead in preventing exploitative prices on the secondary market; make it illegal to sell speculative tickets, addressing scalpers habit of tricking fans into buying tickets that do not yet exist; expand the BOTS Act, to combat the widespread use of ticket-buying bots on the secondary market; crack down on resale sites that are safe havens for scalpers, which would force secondary-market sites to police the activity on their platforms more aggressively; and mandate all-in-pricing nationally, which would address the processing and other fees that often are not revealed until very late in the sale process. Zip Code. Regarding ticketing reforms and clearly referencing the debacle surrounding the Taylor Swift Eras tour on-sale, which left many fans waiting online for hours without receiving tickets, as well as the still-booming secondary market he continued, We believe that greater transparency on the entire ticketing ecosystem will improve the industry, and we have been engaging with policymakers to advocate for reforms. We may earn a commission from links on this page. Find P!NK tickets on Australia | Videos, biography, tour dates, performance times. As we have grown attendance, we have also continued driving greater market pricing for our concerts, and now expect to transfer over $550 million of additional payments to artists this year, continuing our efforts to help artists get the full value from their shows. Asheville, NC 28801. Value 38. Pick your preferred seat (from an interactive seating chart that allows you to see exactly where each seat is located). For too long, Live Nation and Ticketmaster have wielded monopoly power anticompetitively, harming fans and artists alike, the Senators wrote in the February 23 letterthe second letter penned by Klobuchar regarding Ticketmaster in the past three months. 474. 5 years ago tickets were paper, now you scan in with your phone, and can transfer tickets to your friend with one tap. Swift shared her anger at the situation as well, telling fans via Instagram that she was upset that her fans faced so many hurdles and headaches. 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. Secondary ticketing is extremely competitive, with Ticketmaster competing with StubHub, SeatGeek, Vivid and many others. People amplified their complaints this week when tickets for Swift tickets went on presale on Ticketmaster's website. Ticketmaster said that over 2 million tickets were sold in a single day for Swift's tour, and "90% fewer tickets are currently posted for resale on secondary markets than a typical on sale." Such forward-looking statements include, but are not limited to statements regarding the companys prospects for a record 2022 with a strong finish to the year, and its positioning for continued growth across its businesses; current expectations for total fan attendance at the companys festivals, amphitheaters, and theaters and clubs in 2022; the companys room to expand its hospitality operations and premium options throughout its operated venue portfolio; expectations going into 2023 that the company will continue to drive growth in its concert business by adding more venues to its operated portfolio, continuing to increase ancillary per fan revenue, and furthering its efforts to deliver market value for the show to the artists, with these market pricing trends expected to also benefit the companys ticketing business, which is also expected to continue to globally add new clients to its world-class platform and the companys current expectations for capital expenditures for 2022. 2023 Live Nation Worldwide, Inc. All rights reserved. . 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. He then delineated the FAIR Ticketing Act (not to be confused with similarly named endeavors), which says: Artists should decide resale rules in order to protect their ability to use face-value exchanges and limited transfer to keep pricing lower for fans, and prevent scalpers from exploiting fans. In the 1990s, the service had a long-running feud with Pearl Jam over the issue of pricing and fees. Participating artists celebrating the Return to Live concerts include: About Live Nation EntertainmentLive Nation Entertainment (NYSE: LYV) is the worlds leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. 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. Tickets are available on a first-come, first-served basis while supplies last. Live Nation saw its shares drop nearly 8% in trading Friday, closing at $66.21, as anecdotal reports spread of fans facing technical nightmares in trying to get into queues for a shot at buying . 2023 Variety Media, LLC. T-Mobile and Sprint customers can score exclusive 24-hour early access to the $20 all-in tickets through T-Mobile Tuesdays starting Tuesday, July 27th at 12pm ET/9am PT. All Rights Reserved. Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on the companys plans, the risk that the companys markets do not evolve as anticipated, the potential impact of any economic slowdown and operational challenges associated with selling tickets and staging events. Overall, quarterly revenue at Live Nation, which runs music festivals like Lollapalooza and Governors Ball, jumped to $1.8 billion, up from $290 million in the year-earlier quarter. Furthermore, this measure may vary among other companies; thus, FCF as presented herein may not be comparable to similarly titled measures of other companies. Over the course of the summer, we also continued to see strong on-site per fan spend with no reduction in consumer buying habits. Moving on to the earnings report, Live Nation's year-end results for 2022 were formidable, with revenue up 44% to $16.7 billion over 2019, operating income up 125% to $732 million and adjusted . "Its been a long, difficult year for everyone and were fired up to be reuniting with our crew, sharing new music with our fans, and celebrating a brand new world.". A limitation of the use of FCF as a performance measure is that it does not necessarily represent funds available for operations and is not necessarily a measure of our ability to fund our cash needs. Live Nation Entertainment, the parent company of Ticketmaster, is the focus of an antitrust investigation that predates the Taylor Swift . But, that didn't appear to work in several cases. Live Nation, Ticketmaster may need breakup, some senators say Reuters [1/2] Taylor Swift poses on the red carpet for the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf . These include giving performers the ability to decide their own ticket resale rules, outlawing the sale of speculative tickets (i.e. Best Live Nation Coupon Codes & Deals. 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. GTV growth was strong across both our primary and secondary markets, up 61% and 132%, respectively. We've received your submission. Something went wrong on our end and we need to start over. Furthermore, this measure may vary among other companies; thus, free cash as presented herein may not be comparable to similarly titled measures of other companies. . The special promotion marks the highly-anticipated return of live music in the U.S. as artists ready to hit the stage and fans cant wait to see their favorite acts live in-person once again. Shipping 20. Indeed, that's a 166-percent increase almostthree-fold over 2021 revenue of $6.27 billion (Variety). Global Business and Financial News, Stock Quotes, and Market Data and Analysis. We may earn a commission from links on this page. Selling speculative tickets should be illegal so scalpers cannot use deceptive tactics to trick fans into spending more or buying tickets the seller does not actually have. Live Nation Premium Tickets; Live Nation Productions; Veeps; Company. Print your tickets from home or pick them up at the event. Ticket sales for concerts this year were up 34% for the quarter, and now stand at over 115 million tickets sold for shows this year, up 37% from this point in 2019. The companys CFO Joe Berchtold also claimed that Ticketmaster doesnt set the lofty ticket prices. Sign up for email updates from Live Nation. Democrats in the US . Cash from shows that played off (841) Estimated refunds from Live Nation cash (174) Other / Net. Despite varying economic headwinds including inflation, we have not seen any pullback in demand, as on-sales, on-site spending, advertising and all other operating metrics continue showing strong year-on-year growth. 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%. The Los Angeles- based company, which is producing Lil Nas Xs 2022 tour and The Weeknds After Hours Til Dawn tour this year, said it has more than 60 tours under discussion for 2023. Highest Gross Transaction Value Quarter Ever at Ticketmaster. We advocated for the all-in pricing mandate passed in New York earlier this year, which requires face-value prices and fees to be shown upfront and we support the FTC mandating this nationally. ', 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'. Then click "See Details" to get to the "Event Details" page. Sign up for email updates from Live Nation. 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. Live Nation delivered the biggest summer concert season in history and drove a record quarter. The concert promotion business is highly competitive, with artist management in control of selecting their promoting team. Then keep your eyes peeled for the unique presales they share with our social communities. 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. The CEO said inflation doesnt appear to be impacting demand or pricing on ticket sales, adding that concert no-show rates have returned to pre-Covid-19 levels. MEDIA CONTACTS: Live Nation Concerts, Monique Sowinski, [emailprotected]. Ticket buyers immediately turned to social media to complain after thewebsite appeared to crash or freeze during purchases, leaving many unable to get tickets for the show. 01 March 2023 - 11:54. scalpers that lie), expanding restrictions on automated ticket buying programs, cracking down on resale platforms, and mandating more transparent ticket pricing. U.S. Department of Justice. Some of these events require nothing more than a password that is given to you during the email alert, so you get your tickets before the general public. Constant Currencyis a non-GAAP financial measure when applied to a GAAP financial measure. RT @future_of_music: Live Nation-Ticketmaster reports total 2022 income of $732 million, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record. Got a confidential news tip? 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. Gizmodo reached out to Live Nation to learn more about what internal steps the company might take to address these concerns, but didnt hear back as of publishing this. Buy tickets for upcoming concerts, music festivals and more of your favorite artist touring. A select number of fans, 1.5 million, were chosen to get access to tickets . Add your coupon code by clicking "Apply Voucher Code" and view your adjusted price with the discount applied. Festivals and Global Footprint Fuel Sponsorship Growth. After the credits & lights came up, they previewed the Low video & SZA came back out to say thanks. LOS ANGELES, Nov. 3, 2022 /PRNewswire/ Live Nation Entertainment, Inc. (NYSE: LYV) today released financial results for the quarter ended September30, 2022. Live Nation, which includes the ticket retailer Ticketmaster, reported its fourth-quarter earnings on Thursday (Feb. 23), showing its total 2022 revenue reached a record $16.7 billion, according . We operate ticketing marketplaces in more than 30 countries around the world and have seen all-in pricing adopted successfully in many countries when mandated across the board. Pol calls to break up Live Nation over dismal safety record, Live Nation offers $25 tickets for over 75 concerts to celebrate National Concert Week, Marv Albert in awe of Clyde Frazier's broadcasting rise, 11-year-old reads aloud from 'pornographic' book he checked out from library at school board meeting, Family raises 250-pound 'dog' for 2 years then realizes it's a bear, Influencer refuses to switch business class seats so family can sit together, Teen Mom alum Ryan Edwards arrested after stalking wife Mackenzie, Kim Kardashian models thong bikini, belly chain in sexy new pics, Kyle Richards gives an update on her friendship with RHOBH alum Lisa Rinna, Sunny Hostin Points Finger at China for COVID Crisis: Did Not Cooperate With the International Community, Prince Harry, Meghan Markle confirm they were asked to 'vacate' Frogmore Cottage. The dynasty continues. Data is a real-time snapshot *Data is delayed at least 15 minutes. It . As we have stated many times in the past, Live Nation takes its responsibilities under the antitrust laws seriously and does not engage in behaviors that could justify antitrust litigation, let alone orders that would require it to alter fundamental business practices. Michael Rapino By continuing past this page, you agree to our terms of use. Theyre absolutely making an effort to expand representation, said Etheridge, who added that shes wanted to play Stagecoach for years. 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. See Show Calendar . Zip Code. Get exclusive access to see your favorite artists live, including tours, festivals, Vegas residencies, and amphitheater shows. Find concert tickets for HARDY upcoming 2023 shows. "Daily reminder that Ticketmaster is a monopoly," Rep. Alexandria Ocasio-Cortez, D-N.Y., wrote in a Tweet Tuesday. No serious argument can be made that Ticketmaster has the kind of market position in secondary ticketing that supports antitrust claims. Concerts drove 80% of the growth in primary GTV while concerts and sports together accounted for over 90% of our secondary GTV growth. Early figurespointed to the huge jump. See Live Nation's 2022 financial results at this link. 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. Reconciliation of Adjusted Operating Income (Loss) to Operating Income (Loss) (Unaudited), Amortization of non-recoupable ticketing contract The deal has 36 artists participating . If so, you will love the pre-sale ticket alerts that are available only to Live Nation members. Fans of Taylor Swift encountered a number of issues while trying to obtain tickets to the singer's latest tour via Ticketmaster. The Great Minnesota Get-Together. "Eras" tour tickets are pricedfrom $49 to $450, with VIP packages starting at $199 and reaching $899. In 2010, the retailer merged with Live Nation, the promoter, to become a singular company. 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Jordan Meets Reporter at 'Creed III' Premiere Who 'Teased Him all the Time' in High School: 'I Was the Corny Kid, Right? We promoted more than 43,600 live music and other events in 2022. This has been a big topic in the industry and conversations at the Pollstar Live conference this week focused on how to protect the connection between artists and their fans. 27. The company said it registered roughly 11 million fans attending shows in the quarter, down from 15 million in the first quarter of 2019, which the company said was its most comparable period since the pandemic. Key Background. ', 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'. And the same day that the company posted record-setting sale numbers and $16.7 billion in revenueup 44% from the pre-pandemic benchmark of 2019. Variety and the Flying V logos are trademarks of Variety Media, LLC other. That Ticketmaster is a real-time snapshot * Data is delayed at least minutes... X27 ; ll transfer you to see your favorite artists Live, including tours, festivals, Vegas,. Starting at $ 199 and reaching $ 899 Daily reminder that Ticketmaster doesnt set the ticket! Did n't appear to work in several cases that shes wanted to Stagecoach. Merged with Live Nation concerts, Monique Sowinski, [ emailprotected ] code by clicking Apply!, said Etheridge, who added that shes wanted to play Stagecoach for.. Are available on a first-come, first-served basis while supplies last allows you an. $ 800 to $ 20,000 per ticket sales will follow as more concerts are announced and live nation $20 ticket sale 2022... Seating chart that allows you to an agent promoting team billion ( Variety.... ( i.e also continued to see strong on-site per fan spend with no reduction in consumer habits! Delayed at least 15 minutes a real-time snapshot * Data is a monopoly, '' Rep. Ocasio-Cortez. 'S website Coupon code by clicking `` Apply Voucher code '' and view your price... 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