Live Nation Entertainment, Inc. (NYSE: LYV), a leading entertainment company that produces and promotes live music events and concerts, reported financial results for the third quarter of 2024.
- Third-quarter revenue decreased 6% to $7.7 billion from $8.15 billion in Q3 2023
- Consolidated operating income decreased to $640 million in Q3 from $653.7 million in the year-ago period
- Adjusted operating income was $910 million in the September quarter, vs. $871.2 million a year earlier
- Third quarter net income decreased to $451.8 million or $1.66 per share from $521.5 million or $1.93 per share in the comparable quarter a year earlier
- The company recorded its highest-ever concert profitability in Q3, with an adjusted operating income of $474 million
- Around 144 million tickets were sold for 2024 Live Nation concerts, through October, which is up 3%
- October transacted ticket sales for Ticketmaster are up 15% on all ticket volume and up 23% for concert events