This story has been shared 106,884 times. Reconciliation of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures (Unaudited), Reconciliation of Free Cash FlowAdjusted to Net Cash Provided by Operating Activities, Less: Changes in operating assets and liabilities (working capital), Distributions to noncontrolling interests, Net cash provided by (used in) financing activities, Net cash provided by operating activities, Reconciliation of Free Cash to Cash and Cash Equivalents. Ticketmaster is pulling the plug on the general-public ticket sale for Taylor Swift's "Eras" tour that was set to . Demand for concert venue bookings is higher for 2022 than it was in 2019, Live Nation Entertainment's president said. But, that didn't appear to work in several cases. PRESALES: Citi is the official card of P!NK's Summer Carnival 2023 Stadium Tour. Event Views Navigation Activists have accused Ticketmaster and Live Nation of abusing their market power and called for the company to be broken up. Once you are there, click the 'Contact Us' button. For full year 2022, Live Nation . Use " SOUND " or " CHORUS ". The biggest challenge facing the industry is chaos at the onsale, where fans cannot get the tickets at the price the artist sets, yet they see pages of secondary sites with tickets 5 times face value because of scalpers. Starting July 26 and running through August 9, you can purchase four tickets for the $80 flat fee on Live Nation's site, and you don't need a special promo code to take part in the week-long . Aslow return of showsin 2021 and a bustling 2022lent to the sum. Notably, these are all things that Live Nation and Ticketmaster could choose to do internallybut instead, the company and its subsidiary are punting the problem to lawmakers. Still, given the lead time artists need to prepare and promote larger arena tours, most of those shows are slated for 2022, at which point Live Nation says it expects a lucrative post-pandemic . Buy Live Nation - Eventer tickets from the official Ticketmaster.ca site. By continuing past this page, you agree to our terms of use. Updated. Ancillary per fan spending was up 20 to 30% year-to-date relative to 2019 in our operated venues across the U.S. and Europe. Similarly, Sen. Richard Blumenthal, D-Conn., called Swift's tour sale "a perfect example of how the Live Nation/Ticketmaster merger harms consumers by creating a near-monopoly," in a Tweet posted Tuesday. Something went wrong on our end and we need to start over. President and Chief Executive Officer Live Nation, which includes the ticket retailer Ticketmaster, reported its fourth-quarter earnings on Thursday (Feb. 23), showing its total 2022 revenue reached a record $16.7 billion, according toBillboard. Enjoy 10% Off Your Ticket Purchase To The Wiggles Big Birthday Event. 11/18/2022 06:28 PM EST. 2023 Variety Media, LLC. Club Deadspin Greg Maffei, who also chairs Live Nation's board of directors, said Ticketmaster opened pre-sale access to 1.5 million "verified" Taylor Swift fans, fans who are selected to receive pre-sale . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Enjoy 10% Off Your Ticket Purchase To The Wiggles Big Birthday Event. Josh Groban, one of the Live Nation artists whose . At the same time, our operated venues successfully hosted more fans, with attendance up 14% relative to Q3 2019 to 19 million fans for the quarter, and 38 million fans year-to-date. The market is increasingly competitive nonetheless, with rivals making aggressive offers to venues. Sign up for free newsletters and get more CNBC delivered to your inbox. . About Live Nation . Constant Currencyis a non-GAAP financial measure when applied to a GAAP financial measure. Number of shows for 2022 not representative of 2023 season. Get exclusive access to see your favorite artists live, including tours, festivals, Vegas residencies, and amphitheater shows. T-Mobile and Sprint customers can score exclusive 24-hour early access to the $20 all-in tickets through T-Mobile Tuesdays starting Tuesday, July 27th at 12pm ET/9am PT. Fee-bearing tickets sold above are net of refunds of 4.6million and 5.9million tickets for the three months ended September30, 2022 and 2021, respectively, and 15.0million and 13.0million for nine months ended September30, 2022 and 2021, respectively. Some users were shown an error page stating, "We're sorry! "The [Taylor Swift] portal is not going well for many Swifties," Rep. Bill Pascrell, D-N.J., wrote in a tweet Tuesday. Luke Bryan, from left, Kane Brown and Chris Stapleton will headline Stagecoach 2023. Select your desired concert/event city and date. The division added seven million net new tickets in the quarter. We delivered double-digit attendance growth relative to Q3 2019 across established and emerging markets around the globe from North America to Europe to South America, showing our long runway of global growth. Buy tickets for upcoming concerts, music festivals and more of your favorite artist touring. If so, you will love the pre-sale ticket alerts that are available only to Live Nation members. There's something about Taylor Swift and breakups. Qualifying wireless plan required. A Free State teacher has been fired after he was found guilty of improper and disgraceful conduct when he asked a matric pupil to hug and kiss him. Such forward-looking statements include, but are not limited to statements regarding the companys prospects for a record 2022 with a strong finish to the year, and its positioning for continued growth across its businesses; current expectations for total fan attendance at the companys festivals, amphitheaters, and theaters and clubs in 2022; the companys room to expand its hospitality operations and premium options throughout its operated venue portfolio; expectations going into 2023 that the company will continue to drive growth in its concert business by adding more venues to its operated portfolio, continuing to increase ancillary per fan revenue, and furthering its efforts to deliver market value for the show to the artists, with these market pricing trends expected to also benefit the companys ticketing business, which is also expected to continue to globally add new clients to its world-class platform and the companys current expectations for capital expenditures for 2022. Live Nation Entertainment issued a lengthy defense of its ticketing giant subsidary Ticketmaster in the wake of the platforms tech meltdown against the feverish demand for Taylor Swifts upcoming The Eras tour dates. Its sponsorship revenue is up 64% to around $1 billion, and its ticketing fee-bearing gross transaction value is up 54% to $27.5 billion. 2023 Live Nation Worldwide, Inc. All rights reserved. Premier Parking - HARDY - 100 Luckie St. LAZ Deck, The Room - HARDY - Not a Concert Ticket**, Fast Lane Access - HARDY - Not a Concert Ticket, Premier Parking - HARDY - Not a Concert Ticket, Parking at Morey Middle School - 13th and Emerson - HARDY, VIP Club Access - HARDY - Not a Concert Ticket**, HOB Foundation Room Access - HARDY - Not a Concert Ticket, Affinity Plus Fast Lane Access - HARDY - Not a Concert Ticket, American Family Field Parking- Morgan Wallen, BG'S Lounge Access - HARDY - Fillmore New Orleans, VIP Club Access: Hardy (Not a Concert Ticket), Fast Lane Access: Hardy (Not a Concert Ticket), Lawn Chair Rental - Hardy (Not a Concert Ticket), Live Nation Blanket - Hardy - Not a Concert Ticket, Do Not Sell or Share My Personal Information. Explore Thomas Rhett tour schedules, latest setlist, videos, and more on livenation.com Zip Code. The verified fan program, which was established in 2017, was designed to keep tickets in the hands of actual fans and not resellers. Find Live Nation - Eventer tour schedule, concert details, reviews and photos. 2023 Variety Media, LLC. Reconciliation of Adjusted Operating Income (Loss) to Operating Income (Loss) (Unaudited), Amortization of non-recoupable ticketing contract Moving on to the earnings report, Live Nation's year-end results for 2022 were formidable, with revenue up 44% to $16.7 billion over 2019, operating income up 125% to $732 million and adjusted . Number of shows for 2022 not representative of 2023 season. RT @future_of_music: Live Nation-Ticketmaster reports total 2022 income of $732 million, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record. The Live Nation and Ticketmaster monopoly, a coalition of activists called "Break Up Ticketmaster. On a very busy Thursday for the company, it also launched the FAIR Ticketing Act in an effort to combat excesses in the secondary ticketing market, and plans to release a statement in response to one issued earlier in the day by Senators Amy Klobuchar and Mike Lee, who led last months controversial Senate hearing on the ticketing industry. If you don't have an account, you'll be prompted to create one. See Show Calendar . Maybe its the hottest boy band in the country coming to a stadium near you, or perhaps its a jazz band that puts you in a soulful mood. Tickets will be $25 for adults and $5 for high school age and under. 10% OFF. It's a 44-percent increase over pre-pandemic 2019 revenue, $11.55 billion, which is the percentage difference Live Nation touted to investors this week. BEVERLY HILLS, Calif., July 22, 2021 /PRNewswire/ Today Live Nation announced it is celebrating the Return to Live concerts this summer by offering fans $20 all-in tickets to nearly 1,000 shows this year. A Division of NBCUniversal. Furthermore, this measure may vary among other companies; thus, free cash as presented herein may not be comparable to similarly titled measures of other companies. 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Live Nation is sweetening the deal for some fans, selling $20 tickets for 1,000 upcoming shows across the U.S., the major concert promoter announced Thursday. The company that owns Ticketmaster is backing reforms to the ticket process, after facing intense backlash following a chaotic 2022 Taylor Swift concert sale. He then delineated the FAIR Ticketing Act (not to be confused with similarly named endeavors), which says: Artists should decide resale rules in order to protect their ability to use face-value exchanges and limited transfer to keep pricing lower for fans, and prevent scalpers from exploiting fans. His Love On Tour shows were postponed due to the pandemic and finally started in September 2021 in Las Vegas. Selling speculative tickets should be illegal so scalpers cannot use deceptive tactics to trick fans into spending more or buying tickets the seller does not actually have. Within hours, tickets for the tour were already up for sale in the secondary market at exponential markups. Sign up for email updates from Live Nation. Regarding ticketing reforms and clearly referencing the debacle surrounding the Taylor Swift Eras tour on-sale, which left many fans waiting online for hours without receiving tickets, as well as the still-booming secondary market he continued, We believe that greater transparency on the entire ticketing ecosystem will improve the industry, and we have been engaging with policymakers to advocate for reforms. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. Data is a real-time snapshot *Data is delayed at least 15 minutes. Three-day passes for the country festival begin at $389 with VIP, camping and parking passes also available. That Ticketmaster continues to be the leader in such an environment is a testament to the platform and those who operate it, not to any anticompetitive business practices. Ticketmasters advance pre-sale registration system was so overloaded as to malfunction. During that hearing, Live Nation blamed the proliferation of ticket-buying online bots and scalpers for its failure to adequately meet customer needs. Yes, I want to receive email updates . These financial statements should be read in conjunction with the full financial statements, and the notes thereto, set forth in the companys Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission today and available on the SECs website at sec.gov. Since Ticketmaster is part of Live Nation Entertainment, you'll go to the Ticketmaster website to complete your purchase. Live Nation posted robust results in an earnings report encompassing the full 2022 year and its fourth quarter released Thursday, and looks ahead to a blockbuster 2023 amid ongoing government attention to its Ticketmaster division after the debacle surrounding last falls on-sale for Taylor Swifts stadium tour. In 2010, the retailer merged with Live Nation, the promoter, to become a singular company. Findthe corporation's 2022 FEC filing here. These include giving performers the ability to decide their own ticket resale rules, outlawing the sale of speculative tickets (i.e. With this demand, revenue was up over 60% relative to Q3 of 2019, with each division up at least 30%. Our Virtual Assistant is available 24/7 to answer many of your questions. And there needs to be industry-wide all-in pricing so fans see the full cost they are paying up front. Representatives from Live Nation did not immediately respond to CNBC's request for comment. Looking ahead, Live Nation said it expects a strong year as over 70 million tickets have now been sold for shows in 2022, which accounts for a 36% jump over the same period in 2019. And the company emphasized that it has invested in technology that has made app-based ticketing the norm not the exception these days. Taylor Swift accepts an award onstage during the MTV Europe Music Awards 2022 held at PSD Bank Dome on November 13, 2022 in Duesseldorf, Germany. The Lonesome Crowded West Tour (2022) 9:30 Club, Washington, Washington, D.C. Set 1; 1. Help us demand that they do.". If you cannot attend an event after purchasing tickets, contact Live Nation. Last year, a group of U.S. concertgoers sued Live Nation Entertainment the corporation envelopingboth companies for allegedly violating antitrust laws and using what they called "predatory" selling. For additional information, visit investors.livenationentertainment.com. Limited Time. Available Now through August 1 on participating shows. Ticketmaster is also the most transparent and fan-friendly ticketing system in the United States. April 20, 2021 1:54pm. Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on the companys plans, the risk that the companys markets do not evolve as anticipated, the potential impact of any economic slowdown and operational challenges associated with selling tickets and staging events. Tickets are available on a first-come, first-served basis while supplies last. We believe that information about FCF provides investors with an important perspective on the cash available to service debt, make acquisitions, and for revenue generating capital expenditures. We still have tremendous room to expand these higher quality experiences throughout our venue portfolio, which includes over 400 venues and festivals globally with almost 40 new venues in our pipeline. "We cant wait to get back on the road and in front of our fans, it means so much to be able to bring live music back to the people that support us the most," said the Jonas Brothers. UPDATED: Parent firm's lengthy statement asserts Ticketmaster 'invests in technology' and 'does not set or control ticket prices'. Concert promoter and venue operator Live Nation said it logged its best first quarter ever, thanks to a resurgence in concert going, which juiced sales at its Ticketmaster division. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise. Live Nation today announced the return of Concert Week, offering fans access to $25 all-in tickets to more than 3,700 shows across North America this year. As Live Nations outdoor venues across the U.S. begin to open, the time is here to get outside and catch live music with friends, family and loved ones at over 40 Live Nation amphitheaters all across the country. Ticketmaster. Democrats in the US . We believe that information about AOI assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. Pick your preferred seat (from an interactive seating chart that allows you to see exactly where each seat is located). And we see strong demand both on-site and online, up 64% and 63%, respectively this year, as our unique scaled live events platforms continue to attract new brands and expand relationships with current partners. ', Chris Pine Admits It Did Look Like Harry Styles Spit on Me, but He Did Not: The Vitriol Against Dont Worry Darling Was Ridiculous, HBO's Leading Man: Casey Bloys on Perfecting 'The Last of Us,' HBO Max Streaming Merger and Axing Shows, A24 Sweeps Film Categories at the 2023 SAG Awards as 'Everything Everywhere All at Once' Breaks Record for Most Wins, Jean Smart 'Doing Well, Recovering' Following Heart Procedure, Says Hacks Co-Star Hannah Einbinder, Ke Huy Quan Becomes First Asian Male Film Winner at SAG Awards for 'Everything Everywhere All at Once'. We use FCF among other measures, to evaluate the ability of operations to generate cash that is available for purposes other than maintenance capital expenditures. 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