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Business News Live Business
Live Nation boasts of “record year” in 2015
By Chris Cooke | Published on Friday 26 February 2016
Live music giant Live Nation was busy bragging about how 2015 was a “record year” yesterday, reporting that “revenue, adjusted operating income and free cash flow all grew 11% for the year, at constant currency, and we delivered record ticket volume of 530 million”. Revenues were up to $7.6 billion and adjusted operating income stood at $616 million.
Live Nation’s core concert promotions and ticketing businesses helped contribute to the record performance, though brand money was a particularly strong growth revenue stream in 2015. The live firm says its “high-margin” advertising business – selling ad space at Live Nation venues and events, and on its various websites – grew 17%, while “global sponsor base” was up 20% to 900 brands. Hurrah for all those “official lubricants” and “superannuation partners”.
Said Live Nation chief Michael Rapino: “Live Nation continues to be the artist’s number one choice for touring because we have an unparalleled live platform to service their concerts and drive ticket sales to their fans. Combining a growing global industry with Live Nation’s ability to grow its leadership position, we expect to continue driving long-term value for our shareholders”.
