MBW’s Stat Of The Week is a collection wherein we spotlight a knowledge level that deserves the eye of the worldwide music trade. Stat Of the Week is supported by Cinq Music Group, a technology-driven report label, distribution, and rights administration firm.
Concert events big Stay Nation has reported report outcomes throughout all its divisions for Q1 2023.
For the primary time in three years, all markets the place the corporate operates have been absolutely open, and in response to Michael Rapino, Stay Nation’s President and Chief Govt Officer, “from ticket gross sales, to attendance, and onsite spend – each signal factors to unbelievable demand for dwell occasions”.
Rapino advised buyers in a press release on Thursday (Could 4), that “the widespread theme we’re seeing around the globe is that dwell experiences are a excessive precedence for followers.”
When it comes to funds, throughout all divisions, together with Concert events, Ticketing, Sponsorship & Promoting, Stay Nation generated revenues of $3.1 billion in Q1, up 73%.
Breaking down the corporate’s monetary outcomes reveals that its concert events enterprise generated $2.28 billion in Q1, up 89% YoY.
Stay Nation’s ticketing enterprise, in the meantime, generated $677.7 million, up 41% YoY.
Sponsorship & Promoting revenues at Stay Nation reached $170.1 million, up 47% YoY (see under).
When it comes to attendance numbers, the corporate experiences that over 19 million followers attended its exhibits throughout 45 nations in Q1, 7.5 million of which attended exhibits in North America.
The corporate additionally breaks down its attendance for Q1 by venue kind and site, reporting that by way of Stadiums, its attendance greater than quadrupled to 3.3 million followers in Q1 2023, up from 800,000 in Q1 2022. This development primarily got here from the corporate’s Asia Pacific and Latin America markets.
On the Arenas degree, Stay Nation experiences that 6.7 million followers attended its exhibits in Q1 2023, up 3 million or nearly 80% versus Q1 2022, largely because of development in Europe and Australia touring.
On the Theaters and Golf equipment degree, Stay Nation’s fan depend was up 45% YoY in Q1 2023.
Stay Nation additionally experiences that it bought over 145 million tickets in Q1 “with report ranges of exercise throughout all markets”.
One of the crucial spectacular stats of all to be reported by Stay Nation for Q1, nonetheless, was that, “at peak sale occasions through the first quarter of 2023”, its ticketing division Ticketmaster “bought 15,000 tickets per minute in North America”.
Stay Nation says that Ticketmaster is forecast to ship “report exercise” in 2023, with round 600 million tickets set to be managed by the division globally this 12 months.
Rapino identified in his observe to buyers on Thursday that “in concert events [Live Nation], have bought almost 90 million tickets for exhibits this 12 months, monitoring greater than 20% forward of this level final 12 months”.
“These early gross sales have been pushed by a report variety of stadium exhibits and continued sturdy development in enviornment excursions,” added Rapino. “With many main excursions – from Beyoncé to Drake to Bruce Springsteen – demand was so sturdy that even when artists added a variety of extra exhibits, they nonetheless weren’t in a position to meet all the fan demand.”
In keeping with Stay Nation, “over 99.9% of all Ticketmaster transaction[s] have been processed with none points through the first quarter of 2023”.
The corporate’s common ticket costs on major tickets rose by 16% in Q1 2023 in comparison with Q1 2022, pushed, in response to Stay Nation, “by fan demand for one of the best seats, notably at concert events”.
The corporate additionally experiences that [the] common secondary ticket worth “stays near double that of a major ticket, persevering with to point out the extent to which concert events and different dwell occasions stay priced under market worth”.
“Our outcomes for the primary quarter reveal the success of our technique and units us up for sturdy development in 2023.”
Commenting on the corporate’s newest lead to a press release to buyers on Thursday, Rapino mentioned: “What is evident as we have a look at our outcomes and working metrics is that international demand for dwell occasions continues to achieve new heights – demand has been rising for a very long time and is exhibiting no indicators of letting up. Speaking to followers, they are saying that dwell experiences are the primary leisure class the place they anticipate to spend extra sooner or later. Naturally, that is resulting in report ranges of exercise in each our concert events and ticketing companies.
Added Rapino: “Our outcomes for the primary quarter reveal the success of our technique and units us up for sturdy development in 2023. We anticipate to host a report variety of followers this 12 months, even in opposition to a 2022 comparability which benefited from rescheduled exhibits attended by 20 million followers. Ticketmaster must also ship report exercise, with round 600 million tickets managed globally this 12 months. Our sponsorship enterprise, even after unbelievable development final 12 months, seems to be to be on monitor for double-digit AOI development once more this 12 months.
“As we then look to 2024 and past, now we have all the mandatory levers to construct our flywheel globally and proceed to compound AOI by double-digits for the foreseeable future.”
Cinq Music Group’s repertoire has received Grammy awards, dozens of Gold and Platinum RIAA certifications, and quite a few No.1 chart positions on a wide range of Billboard charts. Its repertoire contains heavyweights equivalent to Unhealthy Bunny, Janet Jackson, Daddy Yankee, T.I., Sean Kingston, Anuel, and lots of extra.Music Enterprise Worldwide