In the wake of yesterday’s news that the Justice Department’s antitrust lawsuit against Live Nation will proceed to trial next month, the company has announced a record-setting year of significant growth, with total revenue of $25.2 billion, operating income of $1.3 billion and adjusted operating income of $2.37 billion.
According to the company’s year-end report, overall revenue for 2025 topped $25.2 billion, following a surge in Q4 revenue to $6.3 billion, up 11 percent from 2024’s Q4 revenue of $5.7 billion. Overall revenue saw a nine percent increase over 2024’s $23.2 billion — a sizable boost that signals post-pandemic growth hasn’t slowed to a crawl, even though it’s a far cry from the recent unicorn years.
Operating income grew 52 percent to $1.25 billion. Adjusted operating income bumped 10 percent to $2.37 billion compared to 2024’s $2.15 billion, which is significant but still a smaller margin than last year’s 14 percent increase and 2023’s 32 percent.
Concert AOI jumped 30 percent to $687 million, delivering a best-ever margin of 3.3 percent. Attendance increased at a comparable rate to last year (five percent), up from 151 million globally to 159 million. The report notes that the rise in attendance is in part due to growth in the international market, which surpassed the United States in fan attendance for the first time.
Live Nation is forecasting continued growth through 2026 as 67 million fans have already purchased tickets, crediting upcoming tours from Harry Styles, Bruno Mars and BTS, and states that 80 percent of large venues have been booked. But it does come amid the ongoing antitrust lawsuit — pointedly not mentioned in the year-end report — as trial is scheduled to begin on March 2. Yesterday, Judge Aran Subramanian dismissed some portions of the suit but allowed other claims to proceed in the DOJ’s efforts to break up Live Nation and Ticketmaster.
“In 2025, the bond between artists and their global fan bases reached new heights, fueling another year of double-digit growth,” says Michael Rapino, president and CEO of Live Nation. “As artists continue to unlock untapped markets and headline the world’s most iconic stadiums, we’ve built momentum that carries us into a record-breaking 2026.”
“We’re not just building venues,” he continues. “We’re crafting world-class stages designed to elevate the artist’s vision and their connection to fans. By strategically expanding our global footprint and investing in premium, upgraded infrastructure, we provide the canvas for career-defining performances. This investment doesn’t just drive ticket sales—it revitalizes local economies and cements our venues as cultural anchors. With a deep pipeline of large-scale shows and ticket demand continuing its ascent, we are positioned for another year of double-digit operating income and AOI growth in 2026. Our commitment to being the ultimate partner for artists ensures we are set to compound this double-digit growth for years to come.”
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From Variety US