Live Nation has delivered another set of record financial results, achieving its highest operating income and adjusted operating income (AOI) quarter ever.
Operating income grew 11% in and 12% year-to-date while AOI grew 11% in the quarter and 13% year-to-date, outperforming a record third quarter in 2018.
The company sold 92 million tickets through mid-October, up 6% year-on-year, and are on track to have nearly 100m fans attend its shows this year, while its Ticketmaster division grew operating income by 30%.
We are confident that our strong performance will deliver another record year with growth in revenue, operating income and AOI
Michael Rapino
Live Nation
"As we approach the end of 2019, we are confident that our strong performance will deliver another record year with growth in revenue, operating income and AOI," said Live Nation president and CEO Michael Rapino.
"All of our businesses – Concerts, Sponsorship and Ticketing – have delivered growth year-to-date, and based on their key operating metrics, we currently expect each to deliver record revenue, operating income, and AOI for the full year.
"With an early look to next year, our 2020 pipeline is up substantially, with over 1,500 stadium, arena and amphitheater shows booked already, up double-digits from this same point last year. And as we look forward, we continue seeing tremendous opportunity to expand our global concerts and festivals business, driving further growth in on-site execution, sponsorship and ticketing."
