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LiveNation Reports Revenue Is Down 98% Due To Pandemic

LiveNation Reports Revenue Is Down 98% Due To Pandemic

LiveNation has reported that revenue for the year to date is down 98%.

The touring ticket company revealed their numbers in release this week, sharing that they’ve lost $431.9 million on net revenue of $74.1 million in the second quarter of 2020, via Rolling Stone.

The concerts division of the company’s $141.8 million of revenue was 95% lower than the $2.64 billion in Q2 2019. Meanwhile, the ticketing division was down 98%, compared to $3.16 billion a year earlier.

Earlier in the year, the company made the decision to cancel all future concerts and live events because of the rising numbers in the United States and Europe.

Live Nation did report that despite the cancelled concerts and events, many fans have decided to keep tickets for their rescheduled shows instead of opting out and asking for a refund.

The company also shared that fans are still looking for concerts in 2021 as well, and they’ve sold 19 million tickets across 4,000 festivals and concerts for next year.

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Photos: Getty
Posted to: LiveNation

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