{"id":42030,"date":"2023-07-29T14:15:50","date_gmt":"2023-07-29T18:15:50","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/live-nation-says-concert-industry-will-stay-hot-for-at-least-2-more-years\/"},"modified":"2023-07-29T14:15:52","modified_gmt":"2023-07-29T18:15:52","slug":"live-nation-says-concert-industry-will-stay-hot-for-at-least-2-more-years","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42030","title":{"rendered":"Live Nation says concert industry will stay hot for at least 2 more years"},"content":{"rendered":"
\n

Wall Street has wondered how much longer the good times will last for the concert industry, after it roared back to life last year following two years of pandemic shutdowns. <\/p>\n

But executives at Ticketmaster parent and concert-venue operator Live Nation Entertainment Inc. said those trends could go on for another two years, as bigger, global tours help expand the company\u2019s international footprint, and the company buys its way into a bigger share of the market. <\/p>\n

\n

\u201cWe think we\u2019re headed to a very, very strong 2024, 2025 onward,\u201d Chief Executive Michael Rapino said on Live Nation\u2019s
\n LYV,
\n -7.84%<\/bg-quote>
\n earnings call on Thursday. <\/p>\n

He added: \u201cThe consumer demand is growing, and our ongoing bolt-on acquisitions, venues, new market entries, compounded on top of our organic growth is going to give us this continual one-two punch of growth for the next multiple years.\u201d<\/p>\n

Shares of Live Nation were up 2.8% on Friday, after the company\u2019s second-quarter results a day earlier scorched past analysts\u2019 expectations. Live Nation\u2019s stock is up 42.8% so far this year. <\/p>\n

When the pandemic first hit in 2020, some analysts believed Live Nation, which already dominates the concert industry, could become even bigger, as struggling venues and other companies dependent on concerts looked for bigger buyers to rescue them. <\/p>\n

In Live Nation\u2019s earnings release on Thursday, Rapino said Latin America\u00a0and\u00a0Asia represented areas to do bigger business. International acts, the release said, have \u201cdoubled representation in top 50 tours over last five years,\u201d with \u201cmore acts touring globally and visiting 42% more countries.\u201d Executives also said that the early pipeline for 2024 concerts \u2014 for arena, stadium and amphitheater shows \u2014 had increased. <\/p>\n

According to Pollstar data, gross proceeds for larger outdoor venues jumped last year when compared to 2019. But smaller indoor clubs, the ones emerging artists build their careers on, didn\u2019t do as well, possibly due to concerns over contracting COVID-19.<\/p>\n

While lawmakers and concert-goers worry about fees tacked on to tickets, and authorities reportedly investigate the ticket industry\u2019s competitive practices, company executives have argued that artists set the price of tickets. More of them, they say, are trying to get higher prices from front-row seats. <\/p>\n

\u201cA lot of artists now \u2013 I would say it\u2019s almost becoming the standard that they\u2019re understanding they should price the front of their house to capture most of the value,\u201d Chief Financial Officer Joe Berchtold said on Live Nation\u2019s earnings call on Thursday. <\/p>\n

\u201cOtherwise, it\u2019s the scalper who\u2019s going to take it. And then they want to make sure the back of the house is priced [attractively], so that every fan can afford to buy a ticket and get in.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Wall Street has wondered how much longer the good times will last for the concert industry, after it roared back to life last year following two years of pandemic shutdowns. But executives at Ticketmaster parent and concert-venue operator Live Nation Entertainment Inc. said those trends could go on for another two years, as bigger, global […]<\/p>\n","protected":false},"author":1,"featured_media":42031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-42030","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nLive Nation says concert industry will stay hot for at least 2 more years | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Wall Street has wondered how much longer the good times will last for the concert industry, after it roared back to life last year following two years of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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