Tim Chambers, a mentor, advisor and consultant within the international ticketing and live entertainment sectors, assesses the current state of the market and argues that post-pandemic, not every event can sell-out… Tim Chambers Despite bullish quarterly statements from various international congloms, the post-pandemic recovery of the live music industry has been a varied experience for …
UK festivals will barely break even in 2023 – AIF report
UK festivals face tight margins in 2023 due to soaring costs, according to data collected in the Association of Independent Festivals’ (AIF) first-ever Festival Forecast report. Based on a survey of AIF members, carried out in April 2023, the report shows that AIF festivals are on course to make a collective gross revenue of £195m …
Eventbrite revenue surge aided by tech uptake
Eventbrite posted its best figures since the beginning of the pandemic as revenue surged during the first quarter of 2023. In a trading update for the three months to March 31, Eventbrite recorded revenue of $77.9m, which was up 39% on the $55.9m posted in Q1 2022 and a three-year high. Paid ticket volume was …
ATC Group boosted by US expansion
All Things Considered Group (ATC) said its ATC Live division is now the sixth largest touring agency worldwide as it posted record revenues for 2022. In a trading update for the year to December 31, 2022, ATC – which floated on the London Stock Exchange in 2021 – said it achieved record group revenue of …
Vivid Seats doubles earnings during strong start to 2023
Vivid Seats has raised its financial projections for the coming year after earnings more than doubled in the first three months of 2023. The ticket exchange platform, which is traded on the NYSE and NASDAQ, said marketplace gross order value (MGOV) was up 15% year-on-year to $855.5m during the three months to March 31. Vivid …
Live Nation attracts record 19.5m attendees during bumper Q1
Live Nation saw a record 19.5 million attend its events and revenues up by more than 70% during a strong start to 2023. In a trading update for the three months to March 31, 2023, Ticketmaster’s owner said revenue hit $3.1bn, which was up 73% year-on-year. Central to that growth was an 89% uptick in …
DEAG continues upward trajectory with record 2022
Entertainment company DEAG posted its highest revenue and EBITDA in company history in 2022. According to preliminary figures, revenue in 2022 amounted to €325m (£288m/$354m) compared to €90.7m in the year prior. This is an increase of 258% compared to 2021, and also an increase on the €185m posted in 2019. Consolidated revenue amounted to …
New NFT-powered ticketing system launches
SeatlabNFT, a new NFT-powered event ticketing system, has been launched by the team behind ticketing company, Seatedly. The platform uses blockchain technology and smart contracts to enable ticket sellers to mint tickets as non-fungible tokens (NFTs). Issuers can attach their own conditions and royalty splits to tickets, which opens up a new revenue stream for …
National Theatre accounts illustrate scale of pandemic “crisis”
The UK’s Royal National Theatre saw its finances decimated during the first year of the COVID-19 pandemic with income halving and down by more than £50m. In its accounts for the year to March 31, 2021, the London theatre and wider group registered income of £54.8m, compared to £106.4m in the previous year. The theatre …
Records tumble as Live Nation enjoys revenue and profit growth in Q3
Live Nation Entertainment saw revenue rocket 1,366.9% during the third quarter of its 2021 financial year, as the return of live events led to record figures for the business. Revenue for the three months to September 30 amounted to $2.70bn (£2.00bn/€2.34bn), up from $184.0m in the corresponding period last year, during which the majority of …