Record-High Attendance Drives Live Nation Revenue Up Nearly 20%

A record-high 61 million fans attended Live Nation events during the company’s third fiscal quarter, as strong attendance globally and more stadium concerts in the U.S. drove the number of concertgoers and revenue up 19%, the company reported Thursday (Nov. 5).

The world’s largest live entertainment company generated $10.1 billion in revenue, driven by a record-high $8.7 billion from its concerts business in the quarter ending Sept. 30. In addition to a nearly 30% year-over-year increase in international audiences, U.S. stadiums that were occupied by the FIFA World Cup from May to July held more concerts in the months following the soccer contest, while September amphitheater attendance hit an all-time high. Concert attendance in North America overall was up 13%, helping generate $892 million in overall operating income.

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Demand for concert tickets remains strong. Ticket sales in October were up 20% from a year ago, with monthly ticket sales exceeding prior-year levels every month since January.

“Artists are taking their music to more fans in more places than ever, and fans are showing up in record numbers,” Michael Rapino, Live Nation president/CEO, said in a statement. “Through October, we’ve sold 170 million tickets, up 13% and already ahead of all of last year. We now expect to welcome nearly 180 million fans in 2026.”

The company’s 14% increase in adjusted operating income (AOI), for a total AOI of $1.14 billion, was driven by growth across Live Nation’s three main businesses, and it puts the company on the path to “sustain double-digit growth for years to come,” Rapino said.

The Live Nation concerts business reported a record-high event-related deferred revenue of $3.8 billion, with more than 180 million fans set to attend future events.

Live Nation has made international expansion a key pillar of its growth, and it’s on track to open or acquire 10 venues with more than 3,000 seats by the end of 2026. Those venues are expected to result in more than 5 million attendees this year, eventually rising to an 8 million run rate.

The company’s Venue Nation division, which operates venues outside of North America, hosted 26 million fans in the third quarter, an increase of 17% from the year prior.

Sponsorship revenue of $506 million was up 14% year over year, with 65% coming from international markets. AOI for the division is up 12% to $350 million, as international sponsorship surpassed North America as the greatest contributor to operating income and AOI for the quarter.

Ticketmaster reported that revenue rose 9% to $870 million, with AOI up 10% to $316 million.