Live Nation Entertainment CEO Michael Rapino said ticket demand was on an upsurge as vaccines roll out and countries reopen.
“Fans are buying tickets and events are selling out faster than ever,” he said during a call after first quarter financial results that were still grim. Revenue of $239 million was down 76% from $993 million the year before. Net losses ballooned to $300 million from $185 million. Events plunged to 664 from 7,095.
But as with entertainment venues from movie theaters to Broadway things are looking up. The current second quarter will show the first year-on-year improvement since the fourth quarter of 2019. Live Nation said it’s “confidently planning” reopenings in the U.S., particularly for outdoor shows, and expects other major markets to follow this summer.
“We’re just seeing demand beyond any other historic moment,” Rapino said, noting that “Garth Books just this morning broke every Tickemaster record.” Brooks sold over 50,000 tickets in less...
“Fans are buying tickets and events are selling out faster than ever,” he said during a call after first quarter financial results that were still grim. Revenue of $239 million was down 76% from $993 million the year before. Net losses ballooned to $300 million from $185 million. Events plunged to 664 from 7,095.
But as with entertainment venues from movie theaters to Broadway things are looking up. The current second quarter will show the first year-on-year improvement since the fourth quarter of 2019. Live Nation said it’s “confidently planning” reopenings in the U.S., particularly for outdoor shows, and expects other major markets to follow this summer.
“We’re just seeing demand beyond any other historic moment,” Rapino said, noting that “Garth Books just this morning broke every Tickemaster record.” Brooks sold over 50,000 tickets in less...
- 5/6/2021
- by Jill Goldsmith
- Deadline Film + TV
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