Ticketmaster parent Live Nation Entertainment beat Wall Street estimates for second-quarter revenue on Thursday, helped by high prices of concert tickets and pent-up demand after the pandemic. Surging demand for long-awaited tours by artists like Taylor Swift and Beyonce has driven up ticket prices, with
Ticketmaster parent Live Nation Entertainment beat Wall Street estimates for second-quarter revenue on Thursday, helped by high prices of concert tickets and pent-up demand after the pandemic.
The company reported a 27 per cent surge in revenue to $5.63 billion, compared with analysts' average estimate of $4.95 billion, according to Refinitiv data. Live Nation's total estimated events fell 2.4 per cent year-over-year to 12,241, but 37.1 million fans attended its shows - nearly double the 19.5 million in the previous quarter.
In July, it paused ticket sales for Swift's tour in France blaming a third-party provider for a widely condemned glitch.
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