Live Nation reported revenues of $3.3 billion in the first fiscal quarter of 2025, down 11% from the particularly powerful first quarter released by the live music giant a year ago.
Adjusted operating income fell 6% from 362.5 million in the past year to $341 million. In the concert sector, revenue fell 14% to $2.84 billion, and ticketing revenue fell 4% to $694.7 million. However, sponsorship and advertising increased slightly, up 2%, to $216.1 million.
Although the year started slowly, in its report, the live performance was $5.4 billion in concert revenue, plus $270 million in deferred revenue (deferred revenue per category) – 24% bumps and 13% bumps per category – the company said the numbers in the months are stronger as concert seasons grow.
In the past year, the demand for arena and stadium-level artists has become increasingly expensive, and the on-site country revenue reports are an important argument that has emerged in the past year. For example, Beyoncé won the headlines because she still had tickets to date on her just-started Cowboy Carter tour, which is about whether sales are weakening as consumers tighten their belt sales. (According to Billboard, Live Nation itself disputes the concept of ticket surplus and said in March that she sold 94% of the tickets.)
In a statement, live CEO Michael Rapino insisted that the company did not find that despite the less extensive economic situation, there was no expectation of a lower demand from fans. Live Nation “promising double-digit growth in operating income and AOI this year,” he said.
“As more artists visit the world, fan demand has reached new heights in ticketing sales, performance attendance and live spending,” Rapino said. “Ticket sales were far ahead of schedule last year, concerts and deferred revenues at record-breaking ticketing revenue. To support more fans to see their favorite artists, we will continue to expand our global venue network, adding 20 major venues in 2026. As the global experience economy grows and the live music industry’s leading position, our position has grown by double digits, bringing it to double digit growth.
On Thursday afternoon, on the company's earnings call, Rapino pointed to the sellers from April 1 to April 21, calling it the "most relevant sales" period, and specifically mentioned sales of Chris Brown and Lady Gaga Tours.
"We haven't seen any type of consumers dropping back, clubs, dramas, stadiums, amphitheatres, and we haven't seen that," Rapino said.
In addition to quarterly earnings, the state on site is of course still facing antitrust lawsuits regarding monopoly allegations. Live Nation has been denied the allegations, CFO Joe Berchtold said at a meeting last year: “I hope we will have the upper hand.” Still, advocates and lawmakers have spoken out in recent months, calling on the Justice Department to continue litigation and break down the company.