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Live Nation Revenue Up 677% as Concerts Come Back

Live Nation Revenue Up 677% as Concerts Come Back

For the period of April 1 to July 1, Live Nation rocketed past its performance in the early days of COVID-19 with a 677.2% increase in revenue the prior-year period and a 98.2% improvement from the first quarter, according to the company’s second quarter 2021 earnings report released Tuesday (Aug. 3).

Ticketing revenue made the greatest leap, jumping to $244 million compared to a $87 million loss a year earlier. Concert revenue gained 102.4% year over year and 19.9% from the first quarter.

Here are the elements details of Live Nation’s Q2 2021 earnings report:

Financial metrics – year over year (Q2 2021 vs. Q2 2020)

Revenue: $575.9 million, up 677.2% from $74.1 million
Adjusted operating income: $9.7 million, up from a $431.9 million loss
Net loss: $210.5 million, down 66% from $610.6 million

Financial metrics – sequential (Q2 2021 vs. Q1 2021)

Revenue: up 98.2% from $290.6 million
Adjusted operating income: up from a $151.7 million loss
Net loss: down 34.8% from $322.7 million

Division metrics – year over year (Q2 2021 vs. Q2 2020)

Concerts revenue: $287 million, up 102.4% from $141.8 million
Ticketing revenue: $244 million, up from a $87 million loss
Advertising and sponsorships revenue: $44.6 million, up 142.4% from $18.4 million

Division metrics – sequential (Q2 2021 vs. Q1 2021)

Concerts revenue: up 19.9% from $239.4 million
Ticketing revenue: up 762.2% from $28.3 million
Advertising and sponsorships revenue: up 97.3% from $22.6 million

Additional financial information

Liquidity on June 30, 2021, was $2.1 billion — unchanged since Q1 2021 — a combination of $971 million in available debt capacity and $1.1 billion in free cash.
Event-related deferred revenue was $2.1 billion as of June 30, 2021, compared to $0.9 billion as of June 30, 2020. Long-term deferred revenue was $381 million for events that have been rescheduled more than one year out as of June 30, 2021.

This story is developing.

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