Live Nation Entertainment today released financial results for the three and six months ended June 30, 2017.
Second Quarter Highlights
Revenue Up 29% for the Quarter to $2.8 Billion
Operating Income Up 53% for the Quarter to $113 Million
Adjusted Operating Income Up 22% for the Quarter to $221 Million
Net Cash Provided by Operating Activities Increased for the Quarter to $43 Million
Free Cash Flow — Adjusted Up 42% for the Quarter to $154 Million
Event-Related Deferred Revenue Up 31% to $1.5 Billion as of June 30
Concert Tickets Sold for 2017 Shows are Over 68 Million, Up 22% through July
Sponsorship & Advertising Contracted Net Revenue Up Double Digits through July
Ticketmaster Fee-Bearing GTV at Constant Currency Up 13% through June
“2017 is on track to be another year of growth and record results for the company.” said Michael Rapino, President and Chief Executive Officer, Live Nation Entertainment, Inc. “Our key indicators for our businesses — concert tickets sold for shows this year, contracted sponsorship, and fee-bearing ticketing GTV — are all pacing double digits ahead of last year and as a result we expect each of our businesses to deliver record revenue, operating income and AOI this year.”
