Over 44m folks attended Stay Nation live shows in Q3 – it’s highest quarterly attendance ever
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Live shows big Stay Nation simply delivered what it says was its “greatest summer season live performance season in historical past”.
In keeping with new investor filings, the corporate generated Q3 revenues of $6.15 Billion within the three months to finish of September, up 63% YoY.
These revenues have been generated throughout all divisions, together with live shows, ticketing and promoting & sponsorship.
Stay Nation delivered these outcomes, based on President and CEO Michael Rapino, writing to buyers this week, “regardless of various financial headwinds together with inflation”.
He added: “Followers around the globe proceed prioritizing their spend on stay occasions, significantly live shows.
“We’ve got not seen any pullback in demand, as on-sales, on-site spending, promoting and all different working metrics proceed exhibiting robust year-on-year progress.”
The corporate’s report quarter was pushed by its live shows division, which generated revenues of $5.29 billion, up 67% YoY (see under).
Rapino instructed buyers that the corporate is seeing “double-digit attendance progress throughout all venue sorts together with golf equipment, theaters, amphitheaters, arenas, stadiums and festivals”.
In Q3, Stay Nation says that it held 11 thousand live shows for over 44 million followers throughout almost 50 international locations – it’s highest quarterly attendance ever.
Attendance on the firm’s stadium occasions greater than tripled to eight.7 million followers in Q3 2022 in comparison with Q3 2019.
Attendance on the firm’s festivals was roughly 6.5 million in Q3 2022, up almost 40% in comparison with Q3 in 2019.
12 months-to-date, 89 million followers have attended 31,000 Stay Nation occasions
The corporate’s ticketing enterprise, in the meantime, generated revenues of $531.6 million in Q3, up 42% YoY.
Sponsorship and promoting generated revenues of $343 million in Q3, up 96.6% YoY.
Stay Nation says that its sponsorship enterprise, which noticed its greatest quarter ever in Q3 2022, was pushed by the energy of its festivals and on-line partnerships.
“Competition sponsorship has been our largest progress driver on-site to this point, as we now have successfully leveraged report competition attendance this yr and compounded this progress with double-digit will increase in per fan sponsorship,” mentioned Rapino in his letter to buyers.
As of September 30, 2022, Stay Nation’s complete money and money equivalents have been $5 billion, which the corporate says “contains $1.3 billion in ticketing shopper money and $2 billion in free money”.
This free money, together with $565.9 million of accessible debt capability, provides the corporate $2.6 billion of accessible liquidity.
“Clearly 2022 has been an unbelievable yr of returning to stay occasions, and we count on it to complete robust.”
Micahel Rapino
Looking forward to the remainder of 2022 and 2023, Rapino instructed buyers in his letter that “clearly 2022 has been an unbelievable yr of returning to stay occasions, and we count on it to complete robust”.
He added: “Momentum is robust with early indicators pointing to continued progress in 2023 throughout our companies.
“Ticket gross sales for exhibits in 2023 are pacing even stronger than they have been heading into 2022, up double-digits year-over-year, excluding gross sales from rescheduled exhibits. In our sponsorship enterprise, confirmed commitments are up 30% from this time final yr, exhibiting the resiliency and long-term commitments that manufacturers have for our enterprise.
Past these particular main indicators, going into 2023, we count on we’ll drive progress in our live performance enterprise by including extra venues to our operated portfolio, proceed growing ancillary per fan income and additional our efforts to ship market worth for the present to artists.
“And in ticketing, we count on to learn from these market pricing tendencies, whereas additionally persevering with to globally add new purchasers to our world-class platform.
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