A live nation racked up the biggest summer numbers in its history for the third quarter of 2022, on track to a record year, The Weeknd has decided to help power live nation to the biggest summer concert.
According to its earnings report released today, revenue for the quarter was $6.2 Billion, up 63 percent (over 2019, the last relatively normal year), adjusted operating income was $621 Million, up 45 percent, and it tracked its highest quarterly attendance ever as over 44 million fans attended 11,000 events in Q3, up 40 percent.
President and CEO Michael Rapino said, “As we expected, our performance this quarter was led by our concert business, which held 11 thousand concerts for 44 million fans across nearly 50 countries. As a result, we generated over $5 billion of revenue and $281 million of AOI for the quarter, up 67% and 44% respectively, relative to Q3 2019.
Read more: The Weeknd suddenly ends sold-out concert after singing only four songs
“Shows of all types continue having strong demand, with double-digit attendance growth across all venue types including clubs, theaters, amphitheaters, arenas, stadiums and festivals. Stadiums had a particularly strong quarter with our fan count more than tripling to nearly nine million fans, driven by the global demand to see top acts across a number of genres and audiences such as Bad Bunny, The Weeknd and Red Hot Chili Peppers.”
