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Stay Nation had one other document 12 months in 2023, topping the all-time highs reached in 2022 when artists hit the street in heavy numbers after COVID-19 restrictions shut down the touring enterprise for many of 2020 and 2021.
The live performance promoter and ticketing big had income of $22.7 billion in 2023, up 36% from the prior 12 months, due to document ranges of attendance, ticket gross sales and sponsorships. Adjusted working earnings (AOI) was $1.86 billion, up 32% year-over-year and double the AOI from 2019, the final full 12 months earlier than the pandemic.
As artists went on tour in document numbers, there was ample fan demand to take in the elevated provide of stay music. Live performance attendance climbed 20.3% to 145.8 million. Attendance in North America rose 16.6% to 81.3 million and worldwide attendance spiked 25.4% to 64.5 million. The largest attendance features got here from stadium exhibits — notably Metallica, Beyonce and Luke Combs — which grew 60% to 29 million. The variety of concert events — particular person exhibits and festivals — rose 15.3% to 33,629 in North America and 13.5% to 16,430 internationally.
The rise of Okay-pop and Latin music, together with Stay Nation’s Dec. 2021 acquisition of Mexican promoter OCESA, led to an more and more worldwide live performance enterprise. Stay Nation’s high 50 excursions had 50% extra worldwide acts in 2023 than 5 years in the past, and extra worldwide dates meant excursions had 15% extra exhibits on common.
“Our digital world empowers artists to develop world followings, whereas inspiring followers to crave in-person experiences greater than ever,” stated president/CEO Michael Rapino in a press release. “On the identical time, the trade is delivering a greater variety of concert events which pulls in new audiences, and growing extra venues to assist a bigger present pipeline.
The concert events division’s full-year income elevated 39% to $18.76 billion as demand elevated throughout markets and venue varieties. At Stay Nation’s owned and operated venues — branded as Venue Nation — attendance elevated 13% to 55 million and ancillary per-person income had double-digit development. At its amphitheaters, per-person spending elevated 10% to over $40. As a result of Stay Nation owns and operates these venues, its backside line advantages from elevated fan spending on gadgets akin to drinks, meals and merchandise.
At Ticketmaster, income rose 32% to $2.96 billion and AOI improved 35% to $1.12 billion. Complete fee-bearing gross-transaction worth (GTV) rose 30% to $36 billion — North America GTV rose 26% whereas worldwide GTV jumped 42%. The variety of fee-bearing tickets bought elevated 17% to over 329 million. New shoppers accounted for 21 million further tickets outdated, with about 80% of these coming from worldwide markets.
The sponsorship and promoting division’s income elevated 13% to $1.1 billion and its AOI rose 14% to $675.1 million. Led by development in beverage, know-how and monetary providers sectors, Stay Nation’s sponsorship enterprise had over 100 companions with multi-million-dollar, multi-year commitments.
Within the fourth quarter, traditionally a sluggish interval in comparison with the spring and summer season months, Stay Nation’s income rose 36% to $5.8 billion. The concert events division’s income soared 44% to $4.87 billion. The corporate’s AOI rose 20% to $116.9 million within the quarter.
Trying forward, “we anticipate all our companies to proceed rising and including worth to artists and followers as we ship double-digit working earnings and AOI development once more this 12 months, with our profitability compounding by double-digits over the subsequent a number of years,” Rapino added. By mid-February, Stay Nation has bought 57 million live performance tickets, up 6% year-over-year, and Ticketmaster had $13 billion in fee-bearing gross-transaction-volume for occasions up to now in 2024, a double-digit enhance. As well as, the corporate has booked 75% of its anticipated sponsorship commitments, additionally a double-digit enhance from the prior-year interval.
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