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A recent report from Live Nation Entertainment shows that country music fans are growing by leaps and bounds. The report shows an increase of 2.3 million fans to nearly 7 million, which is a 50% increase from 2012.
In North America, Live Nation was the exclusive promoter of 21 of the 25 top-grossing tours. "We increased both attendance and attendance per show at every type of venue, from theaters and clubs to amphitheaters to arenas and stadiums, showing the consistent strength of our business," Live Nation said in a press release. Those increases set a new annual revenue record last year with Live Nation's net income up by $120 million, its operating income up by $118 million and its revenue up 11% to $6.5 billion.
The mega-promotions company says that it is currently on track to beat last year's numbers because "event-related deferred revenue and concert ticket sales" are up compared to the same time frame last year. “Early indicators show we are off to a strong start, with event-related deferred revenue up 19% year on year to $434 million as of December 31st, 2013 and concert ticket sales for shows in 2014 up 12% as of February 15th, 2014 as compared to this time last year," the company shared.
Music Week recently reported that Live Nation has purchased the remaining 50% of Dublin’s O2 Arena from co-owner Nama, giving it full ownership of the award-winning sister venue to London's O2 Arena. Annual profits for the venue are reported to be around $8.25 million.
Live Nation is currently promoting tours for Brantley Gilbert, Jason Aldean, Hunter Hayes, Jake Owen and Zac Brown Band.
