25 days ago • 2 mins
What’s going on here?
Ticketmaster-parent Live Nation's results proved, once and for all, that touring superstars Taylor Swift and Beyoncé truly do run the world.
What does this mean?
Worries about savings-draining mortgage payments and the existential threat of artificial intelligence are clearly no match for Taylor Swift and Beyoncé. After all, if belting out Tay-Tay’s back catalog can get you through the heartbreak of all heartbreaks, a live singalong can surely wipe away any financial woes. No wonder, then, that Live Nation raked in a record-breaking $8.2 billion in revenue last quarter, more than double the ticket-selling platform’s usual takings from before the pandemic. And while no one has any idea what to expect next week, month, or year anymore, music lovers are making sure their future at least has a boogie in it: half of Live Nation’s big-ticket venues are already sold out for next year. “Sh-sh-shake It Off”, indeed.
Why should I care?
For markets: Irreplaceable.
It's well known that artists can’t rely on percentages of streaming bucks to make them their millions in this digital age. The fastest track to mansions and champagne is by taking to the stage, and because Live Nation keeps some 50 million fans on constant tenterhooks, artists trust the brand to market their tours. That’s a sweet gig: more fans attract top artists, top artists attract even more fans, and repeat. Throw in some merch and marketing deals, and you can see why Live Nation’s stock has pitched up 20% higher this year.
The bigger picture: You Need To Calm Down.
Mind you, a sprinkling of superstars reckon Live Nation holds too much power, even organizing their own tours to keep more control and dollar bills. Fans have had their fair share of gripes, too, frustrated that the platform hasn’t done away with bots and rip-off resales. Even the Department of Justice has cast a suspicious eye, assessing whether Live Nation’s dominance counts as anti-competitive behavior.
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