Ticketmaster late yesterday reported its largest quarter in its history in terms of gross transaction value and overall ticket volume for the three months ending March 31. Ticketmaster’s corporate parent Live Nation's ticketing revenue in Q1 rose to $493.7M, up 22% from the comparable period in '16. Ticketmaster’s primary and secondary ticketing businesses in particular rose 18% and 20%, respectively, and it added 245 new clients during the quarter. Company officials pointed to several factors, including robust concert ticket sales, and accelerating growth in mobile and European ticketing. “We have booked more shows, sold more tickets, and have more sponsorship commitments than ever before at this point of the year,” said Live Nation President & CEO Michael Rapino.
Live Nation revenue overall rose 17% to $1.4B during the quarter, and adjusted operating income increased 25% to $92M. The company also sold more than 4 million tickets outside its own platforms during the quarter, up 32% from a year ago, as it continues to expand its distribution and face competitors pursuing more open models.
