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Live Nation Entertainment closed out 2025 with $25.2 billion in revenue, a 9% jump, while operating income surged 52% to $1.3 billion. Adjusted operating income reached $2.4 billion, marking another year of double-digit expansion for the concert giant. These numbers greatly surpass the original estimated revenue for the year.
The concerts division delivered a profitable performance, with adjusted operating income climbing 30% to $687 million and margins hitting a company high. Across 55,000 shows, Live Nation hosted 159 million fans, up 5%, with international attendance surpassing the U.S. for the first time. North American stadium crowds more than doubled, underscoring the continued appetite for large-scale touring.
On the ticketing side, Ticketmaster reported $3.1 billion in revenue. Concert-related ticket sales drove growth, offsetting softer activity in sports and third-party events. Fee-bearing gross transaction value tied to concerts rose 9% to $26 billion, while January marked the strongest start to a year in the company’s history, with on-sales surging more than 50% in North America.
Venue expansion remains central to the strategy. Through its Venue Nation arm, the company hosted 65 million fans at operated sites and continued investing heavily in new amphitheaters and international arenas. Recently opened properties, including Rogers Stadium, Estadio Vive Claro, and TD Coliseum, outperformed internal projections, particularly in premium seating and food-and-beverage spending. More than half of the planned 2026 venue additions will be outside the U.S., including further expansion in Latin America and Europe.
Sponsorship and advertising also posted double-digit gains, with brands increasing investments across festivals, venues, and digital platforms.
Early indicators suggest 2026 could raise the bar yet again. Deferred event revenue is up sharply, more than 80% of large-venue shows are already booked, and concert ticket sales are pacing well ahead of last year. With capital expenditures projected at over $1 billion, largely aimed at venue growth, the company is doubling down on infrastructure designed to support touring for years to come.
For an industry still recalibrating after a turbulent decade, the stadium era is back and isn’t slowing down.
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