Ticketmaster Had 4th Best Month in Its History: Live Nation CEO
Live Nation Entertainment is seeing the “pent-up demand” for live concerts “play out as artists and fans are eager to reconnect in-person,” said CEO Michael Rapino on a Q2 call Tuesday: June was Ticketmaster North America's fourth best month in…
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history for"transacted ticket volume,” he said. All of Live Nation’s “leading indicators” suggest “a roaring era for concerts and other live events” in 2022, he said. Its “pipeline” is showing double-digit growth in show count and ticket sales “relative to 2019 levels,” he said. “In some cases, our pipeline is so strong, we are extending our planning into 2023 and even beginning to discuss tours that extend to 2024.” With the surge in COVID-19 cases due to the Delta variant, Live Nation is “seeing is a shift to increasing requirements for entry” at concert venues, said President-Chief Financial Officer Joe Berchtold. Last weekend’s Lollapalooza 2021 festival in Chicago was “very successfully done,” he said. It’s estimated that more than 90% who attended were fully vaccinated, “which I think was a great signal in terms of peoples’ commitment and support of being vaccinated in order to go to these shows,” he said. “My expectation is that we will see that continue.” The “great news” is that the “discussion” is about the vaccine and testing requirements to hold events, he said: “Not hearing discussions, certainly in the U.S. or the U.K., about impacting those shows to any scale.”