As live performance tickets proceed to turn into much less inexpensive for the common music fan, Dwell Nation (the stay occasion large and dad or mum firm of Ticketmaster) have simply unveiled document quarterly earnings for summer season 2022.
Dwell Nation made an absolute killing from July-September 2022, reporting income of $6.3 billion — a 63 % enhance from their numbers in 2019. Right here’s the expanded monetary overview reported by Dwell Nation themselves:
– Reported Income Up 63% to $6.2 Billion
– Reported Working Earnings Up 95% to $506 Million
– Reported AOI Up 45% to $621 Million and Up 51% to $645 Million On A Fixed Foreign money Foundation
– 12 months-To-Date Working Money Stream Is $928 Million
– 12 months-To-Date Free Money Stream – Adjusted Is $996 Million, Up 88%
A part of Dwell Nation’s large quarter was document attendance for ticketed occasions. Throughout 11,000 occasions, Dwell Nation report over 44 million followers got here out this summer season. Ticketmaster additionally delivered an all-time excessive “reported fee-bearing gross transacted worth” of $7.3 billion — up 62 % in whole.
Together with their monetary report, Dwell Nation commented on “latest press concerning ticketing charges,” which doubtlessly embrace President Biden’s just lately introduced effort to “crack down” on “hidden junk” charges for ticket consumers.
“Lastly on Ticketmaster, some extent on some latest press concerning ticketing charges,” the report begins. “We are going to proceed to advocate for price transparency in stay occasion ticketing. We advocated for the all-in pricing mandate handed in New York earlier this yr, which requires face-value costs and costs to be proven upfront – and we help the FTC mandating this nationally. We function ticketing marketplaces in additional than 30 nations world wide and have seen all-in pricing adopted efficiently in lots of nations when mandated throughout the board. This solely works if all ticketing marketplaces undertake collectively, so that customers really can precisely evaluate as they store for tickets.”
Dwell Nation’s full press launch, together with monetary statements of their document quarterly earnings, will be discovered right here.
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