Top executives at public touring and ticket companies have been saying post-pandemic demand remains strong and isn’t showing signs of letting up.
Concert promoters have posted strong quarterly earnings that fit their narratives. Live Nation’s first-quarter revenue was up 71% to $3.1 billion. CTS Eventim’s online ticket sales increased 58% to 18 million as consolidated revenue improved 163% to 366.2 million euros . At Vivid Seats, which also does business in major sports such as baseball and basketball, first quarter revenue grew 23.
Investors absorb past earnings history while figuring out what to expect in the future, and according to JP Morgan analystthey often ask two questions about Live Nation: First, is there enough supply to meet growing, healthy demand? Yes, Live Nation president and CFOsaid at JP Morgan’s Global Technology, Media and Communications conference on Tuesday.
The second thing investors want to know is how demand will respond during a softer economy. Live Nation closely follows the indicators — such as on-sales show closings — Berchtold said, “but we’re not seeing anything that gives us pause.” Separately, Berchtold noted that Live Nation’s research indicates getting back to concerts are one of fans’ top priorities after the pandemic and will be “one of the last things they’re going to cut back on.
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