Live Nation posts big results for 2019, confident of more growth despite coronavirus fears

Live Nation posted another strong performance for 2019, as the world’s biggest concert promoter logged a ninth consecutive year of growth.

But as the spread of coronavirus spooks stock markets and punches holes in touring calendars, it remains to be seen whether the good times will roll. LN is predicting growth.

Going to a concert last year was about as normal as getting a haircut, as LN saw revenue lift 7% to US$11.5 billion on operating income of US$325 million, up 19% on the previous year.

Global fan attendance during the period was up to 98 million, a 5% gain. Whether coronavirus stops LN from hitting that magic 100 million milestone, time will tell.

Live Nation

Shares in Live Nation and several other music companies took a beating this week, as panicked investors bailed on reports that coronavirus cases were soaring in Italy, Iran and South Korea.

“We are monitoring things closely, and the safety of our artists, fans and employees will always be our top priority,” reads a LN statement issued Thursday.

The live music giant is confident its business will weather this particular storm.

Over the next three months, its show count across China, Asia and Italy collectively accounts for less than half of 1% of the company’s activity. “Overall our attendance is weighted toward the latter part of the year,” a Live Nation statement reads, “with over 70% of our attendance expected from June through the end of the year.”

The Asian region accounts for just 0.01% of its activity, even including Ticketmaster’s recent push into Taiwan and Singapore, CEO Michael Rapino said during Thursday’s earnings call, Billboard reports.

Despite those global health concerns, the company confidently says “we expect” 100 million-plus fans “to attend our shows this year.”

Its 2020 pipeline of live entertainment is said to be “robust” with a 30% gain in confirmed show count across stadiums, arenas and amphitheaters. Demand is reportedly “strong so far in 2020,” with 38 million tickets sold, up 10% year-over-year.

The Australian and NZ operations contributed to the whole. During 2019, the live music juggernaut added 38 new venues to its global portfolio, including Brisbane’s Fortitude Music Hall, while the Forum Melbourne made the move to paperless ticketing.

DZ Deathrays at Fortitude Music Hall

Check out Live Nation Australasia and Ticketmaster’s 2019 milestones timeline below (compiled by LN).

January

Falls Festivals in four different locations around Australia (Lorne, Marion Bay, Byron Bay and Fremantle) along with Rhythm and Vines in New Zealand ring in the New Year with their Summer festivals.

February

Ticketmaster acquired Moshtix to service the growing general admission event markets in Australia and New Zealand.

Red Hot Chili Peppers deliver one of the most sought-after tours of 2019. The band performed their first Australian headline shows in more than 12 years to sold-out crowds across the country, selling in excess of 200,000 tickets and setting a new maximum attendance record of 32,932 fans at Perth’s HBF Stadium.

March

Download Festival returns for its second year playing to 50,000 heavy metal and rock fans across two cities, Sydney and Melbourne. Live Nation launched Download in Australia as a single day event in Melbourne in 2018 and expanded into Sydney in 2019.

John Mayer begins his 2019 World Tour in New Zealand, which saw the seven-time GRAMMY winner perform to more than 44,000 fans at sold-out arenas in Auckland, Brisbane, Melbourne and Sydney.

April

Splendour in the Grass celebrates record ticket sales, selling out all 42,500 tickets to its increased-capacity 2019 event.

Post Malone tours his biggest-ever headline shows throughout Australia and New Zealand, selling-out 12 arena concerts and selling more than 150,000 tickets.

Live Nation NZ is association with Eccles Entertainment stage the You Are Us/Aroha Nui concert to raise funds for those affected by the March Christchurch terror attack.

May

Iconic Melbourne venue, Forum Melbourne, announced its move to paperless ticketing – making it Ticketmaster Australia’s first digital-only ticketed venue. Partnering with the Marriner Group, one of Australia’s leading venue operators, Ticketmaster implemented Mobile Delivery as the only delivery option available for the 2,000-capacity live music venue.

Live Nation announces a renewed partnership with NAB to deliver exclusive fan experiences to NAB customers.

June

Live Nation and Ticketmaster announce partnership with Dylan Alcott’s Get Skilled Access to improve accessibility standards across the live industry. The partnership has seen a host of initiatives launched across the portfolio of Live Nation and Ticketmaster companies in Australia and New Zealand, while also aiming to bring together the wider industry to tackle the challenges and opportunities to create a more inclusive and accessible experience for fans with disabilities.

July

Australia’s newest live music venue and largest ballroom/theatre style space in Australia, Brisbane’s Fortitude Music Hall, which is a joint venture between Live Nation, Secret Sounds, JC Collins and Scott Hutchinson opened its doors for the first time.

Grammy, Golden Globe and Emmy-Award winning double-triple threat Childish Gambino begins his Australian tour in Perth, opening to rave reviews from a sell-out crowd and sees the rapper/writer/producer/director/actor/comedian headline the annual Splendour in the Grass festival.

Live Nation announce new summer music festival series, Soper Reserve Series, a 3,500 cap greenfield site in Mt Maunganui, Taruanga in New Zealand.

August

The legendary Fleetwood Mac return to Australia and New Zealand, completing an 18 arena-date tour featuring the new line-up of Mick Fleetwood, John McVie, Stevie Nicks, Christine McVie and newcomers Mike Campbell and Neil Finn.

Live Nation and Ticketmaster announce exclusive multi-year partnership with Hertz which becomes the car rental brand partner across Australia and New Zealand.

September

Ticketmaster announces new global partnership with Tennis Australia becoming the official ticket agent for the Australian Open, the ATP Cup, Brisbane International, Adelaide International and Hobart International.

Live Nation announces new long-term brand partnership with Vodafone in New Zealand giving Vodafone’s 2.8 million NZ customers access to LN’s entertainment portfolio.

October

Spark Arena in Auckland features in Billboard’s Arena Power Player List ranked No. 7 (capacities of 15,001 plus).

November

U2 finally returned ‘down under’ on The Joshua Tree Tour 2019 which saw the Irish rockers’ 15-date tour across Australasia and Asia sell more than 567,000 tickets and gross more than $107 million at the box office. The tour opened to rave reviews in Auckland where the band performed their seminal record “The Joshua Tree” in full, plus a career spanning setlist to stadium-sized audiences.

December

Live Nation co-produced and promoted Festival X which debuted in 2019 as Australia’s newest music event featuring some of the world’s best artists in pop, hip hop and electronic. Headlined by Calvin Harris the festival was a success with 100,000 fans across 4 shows in 4 days: Auckland, Brisbane, Sydney & Melbourne.

This article originally appeared on The Industry Observer, which is now part of The Music Network.