x

The latest industry news to your inbox.


I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

Record revenue sends CTS stock to all-time high

CTS Eventim’s share price has sailed past €105 for the first time after the German-headquartered company posted record revenue and earnings for Q4 2024.

CTS stock had peaked at €105.90 at press time, having risen 5% since the markets opened this morning.

Shares in the pan-European entertainment and ticketing giant have soared almost 30% in six months and 16% just in the last month alone, giving the firm a market cap in excess of €10 billion.

According to its preliminary results, consolidated revenue rose by 19,1% year-on-year from €2.359bn to €2.809bn, driven by double-digit growth in both the ticketing and live entertainment segments. The Group’s adjusted EBITDA was up 21.9% to €542.2 million, compared with €444.8m for the previous 12-month period.

Ticketing revenue increased by 22.7% to €879.9m in 2024, while live entertainment revenue climbed by 17.6% to €1.971bn. Adjusted EBITDA amounted to €416.5m (+21.1%) and €125.6 million (+24.4%), respectively.

The company’s full 2024 annual report will be published on 27 March

The company’s full annual report for 2024 will be published on 27 March.

The firm completed its acquisition of Vivendi’s festival and international ticketing businesses, including See Tickets, in a €300m deal last year, while its Peter Rieger Konzertagentur (PRK) and DreamHaus subsidiaries merged last autumn to form a combined company, PRK DreamHaus.

It was also awarded the contract to build and operate a planned new multipurpose arena in Vienna, Austria and is on to track to complete work on its Italian venture, Arena Milano, later this year.

CTS’ highlights for 2025 also include the anniversary editions of Germany’s Rock am Ring and Rock im Park.

“CTS Eventim is continuing to deliver stable growth in an increasingly volatile political and economic environment,” said CTS CEO Klaus-Peter Schulenberg during its previous earnings report. “The strategy of boosting rapid expansion and making the portfolio more financially resilient has proved to be key to our Group’s long-term performance.”

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Markets update: Live Nation shares hit new high

Live Nation’s share price has reached a new high, topping $145 for the first time, after rising 11% in the last month alone.

The company’s stock, which peaked at $145.33 so far today (31 January), has continued on an upward trajectory after rocketing over 8% to a then all-time high of $127.64 in the immediate aftermath of Donald Trump’s victory in last November’s US election.

Live Nation has said it is “hopeful” the administration change will have a positive impact on its antitrust battle with the DOJ.

Additionally, LN’s share price has risen 50% over the past six months and 63% in the last year. The firm has a market cap of more than $33.5 billion.

The firm’s president/CEO Michael Rapino was recently named No.1 on Billboard‘s latest Power 100 List, its annual rankings of the music industry’s top executives.

“The word ‘record-breaking’ has become synonymous with Live Nation under Rapino’s leadership”

“The word ‘record-breaking’ has become synonymous with Live Nation under Rapino’s leadership,” states the publication. “In 2024 alone, the first two quarters of the year broke revenue records, while in the third quarter (though down in overall revenue year over year) concerts delivered record profitability.

“Those results stem from consistently promoting shows from some of the biggest acts on the road.”

Rapino came out on top of the list ahead of Universal Music Group chair/CEO Lucian Grainge at No.2, with the top 5 completed by Sony Music Entertainment CEO Rob Stringer, Spotify co-founder/CEO Daniel Ek and Irving and Jeffrey Azoff, who are jointly ranked at No.5.

Other live music figures included in the top 20 were AEG Presents president/CEO Jay Marciano at No.9, Red Light Management CEO Coran Copshaw was at No.19 and Oak View Group chair/CEO Tim Leiweke at No.20.

In further positive stock market news for the business, shares in German-headquartered live entertainment giant CTS Eventim have seen an 11.5% uptick over the past month to €94.70, while Sphere Entertainment’s have risen close to 15% in the same period to $46.17. Madison Square Garden Entertainment Corp is up slightly to $36.30.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Saudi Arabia cashes out on Live Nation stake

The sovereign wealth fund of the kingdom of Saudi Arabia has sold its entire shareholding in Live Nation after more than tripling the value of its investment in less than five years.

The move was disclosed in a filing with the Securities and Exchange Commission last Thursday (14 November).

The PIF took a 5.7% stake in the promoter in April 2020 – just weeks after the start of the Covid live music shutdown – when LN’s share price was below $40.

It bought 12,337,569 shares, valued at just shy of US$500 million, becoming the fourth-largest shareholder in the world’s largest live entertainment firm behind Liberty Media, Vanguard Group and BlackRock.

Live Nation stock has continued to rise to record highs, surpassing $131 for the first time ever today (18 November) for a market capitalisation of $30.2 billion.

Saudi Arabia’s investment in the company formed part of its push to grow its domestic events market in order to reduce its reliance on oil revenues. However, the FT reported last month that the PIF, which has around $930bn worth of assets, was pivoting from international investments to focus on domestic projects.

MDLBeast’s Soundstorm festival returns from 12-14 December, headlined by Eminem, Muse and Tyler, The Creator

This summer, it was announced that Live Nation Arabia had secured a deal to manage operations at Maraya, a multi-purpose venue in AlUla, Saudi Arabia, under a three-year partnership with AlUla Development Company, a Public Investment Fund company.

New venues are also being built, such as the 20,000-seat Jeddah Arena, due for completion in December 2025, and a brand-new, 45,000-capacity stadium in Qiddiya.

In addition, the region’s biggest festival Soundstorm returns from 12-14 December. Organised by MDLBeast, it will feature headliners Eminem, Muse and Tyler, The Creator. The promoter also launched a weekly series of music shows in August in partnership with Jeddah Season 2024.

IQ‘s 2024 Global Promoters Report explores the current state of play in the fast-growing sector.

“There are still artists that don’t want to go, for obvious reasons,” says Thomas Ovesen, CEO of UAE-based All Things Live. “But the Saudis have successfully chipped away at it and have attracted more and more, including female artists. So there’s definitely a market.”

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Touring powerhouses’ stocks hit record levels

Live Nation and CTS Eventim have both seen significant gains on the stock market over the past few weeks.

LN’s share price reached a 52-week high of $109.24 today (27 September), having climbed almost 12% in the last month, to give the promoter a $24.9 billion market cap.

Live Nation posted $6.02 billion revenue in its most recent financial results covering Q2 2024 – an increase of 7% on the equivalent quarter last year. It was revealed yesterday that the company plans to open a 50,000-cap seasonal stadium in Toronto, Canada next summer.

Meanwhile, stock in German-headquartered live entertainment heavyweight CTS has risen close to 7% in the same period to peak at €92.10 – representing another all-time high for the firm, which is valued at €8.8bn.

CTS raised its guidance for 2024 last month in light of its “excellent” Q2 financials, which saw its quarterly revenue rise 21.2% to €793.6m. The figures included its recently acquired festival and international ticketing businesses from Vivendi for the first time, including See Tickets.

Shares in Las Vegas Sphere parent Sphere Entertainment are up nearly 7% this week

Separately, shares in Las Vegas Sphere parent Sphere Entertainment are up nearly 7% this week to $43.99, while Madison Square Garden Entertainment Corp is around flat at $42.13.

The US Federal Reserve lowered interest rates for the first time in four years on 18 September, reducing the key lending rate by half a percentage point.

Elsewhere, MENA streaming service Anghami, which owns Dubai-based event management company Spotlight Events, has improved 1% to $0.85 over the past five days.

Shares in Roblox Corp, the firm behind social gaming platform Roblox, has dipped slightly to $44.07 and live entertainment global digital media firm LiveOne is down to $1.12. Music company ATC Group, which is listed on the Aquis Growth Market in London, are at 110p.

In addition, there were big gains for K-pop businesses, with HYBE up 7.5% this week, JYP Entertainment soaring 14% and YG Entertainment and SM Entertainment rocketing nearly 19% and 17% respectively.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Touring giants rebound after stock market slump

Touring power players appear to be back on track following a turbulent few days for the stock market.

Markets in the US dipped on Friday and Monday after new data showed the unemployment rate increased from 4.1% to 4.3% in July – its highest level in almost three years – while only 114,000 jobs were added – well down from the 215,000 monthly average over the previous 12 months.

However, the BBC reports that Nasdaq, the Dow Jones Industrial Average and the S&P 500 all witnessed early gains today (6 August). Japan’s Nikkei 225 stock index also surged by more than 10%, having plummeted 12% at the beginning of the week.

Live Nation‘s share price, which opened at US$88.06, advanced almost 3% to $90.57, giving it a $21.25 billion market cap.

The company published its Q2 earnings report last week, posting $6 billion in revenue for the quarter – up 7% on the equivalent quarter in 2023. Operating income rose 21% to $466 million and AOI 21% to $716m, with the key metrics pointing to another record-setting year for the firm.

Shares in Madison Square Garden Entertainment and spin-off Sphere Entertainment have both risen

“We continue to see strong demand globally, with a growing variety of shows attracting both casual and diehard fans who are buying tickets at all price points, which speaks to the unique experience only live concerts can provide,” said Live Nation president and CEO Michael Rapino.

German-headquartered CTS Eventim, which is due to release its half-year financial report later this month, saw a small uptick to €75.55, valuing the pan-European behemoth at €7.38bn.

Shares in Madison Square Garden Entertainment and spin-off Sphere Entertainment have also both risen to $36.24 and $39.30, respectively, ahead of their upcoming financial results for fiscal Q4.

Elsewhere, MENA streaming service Anghami, owner of Dubai-based event management company Spotlight Events, has dipped almost 7% to $0.89 over the past five days, while shares in music company ATC Group, which is listed on the Aquis Growth Market in London, stand at 110p. Plus, Roblox Corp, the firm behind social gaming platform Roblox, saw a 1% uptick to $36.95.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

CTS proposes record dividend after bumper year

After its share price reached an all-time high last week, CTS Eventim has confirmed its 18th record year of revenue since its IPO in 2000.

CTS’ share price, which peaked at a record €78 last week, stands at €75.95 at press time.

As previously announced, the pan-European ticketing and live entertainment giant’s annual revenue was up 22% in 2023, surpassing €2 billion for the first time to reach €2.359bn, while normalised EBITDA increased at 32% to reach €501.4 million.

The company’s board will propose to distribute €137.3m in dividends to shareholders at the firm’s 14 May meeting – the highest dividend in its history. The figure equates to 50% of net income or €1.43 per share (previous year: €1.06 per share).

“These excellent results are proof that live entertainment is once again driving the arts and creative sectors,” says CTS chief Klaus-Peter Schulenberg. “We owe this primarily to the creativity of the artists who delight their fans around the world day in, day out. It is also thanks to the countless promoters who, with their boldness and entrepreneurial spirit, stage events and create unforgettable experiences.

“And last but not least, our team and our technologies ensure that live cultural events can thrive and that everyone involved can make a living from their work. Our platforms and systems are synonymous with performance and reliability – as are the company itself and everyone who works here.”

Ticketing, up 32% to €717.3m, was the main driver thanks to demand for tours by the likes of Taylor Swift, Rammstein, Apache 207, Bruce Springsteen, Coldplay and Paul McCartney.

The German-headquartered firm is projecting a moderate rise in total revenue in 2024

“Economies of scale resulting from the shared use of centralised infrastructure helped to increase the margin,” adds a press release.

CTS partnered with Sony Music Latin Iberia to acquire Chile’s Punto Ticket and Peru’s Teleticket last November. However, the full effect of these acquisitions will only be seen in earnings this year as they have only been included in the scope of consolidation since mid-November.

Meanwhile, revenue from its live entertainment segment rose 19% to €1.677bn in 2023, with a key focus in 2023 being the expansion of its business in North America via its JVs with Mammoth Inc and AG Entertainment Touring. Last December, it also joined forces with US promoter Walter McDonald to establish boutique live entertainment company The Touring Co. in North America.

The German-headquartered firm is projecting a moderate rise in total revenue in 2024 and expects earnings to keep pace with 2023 levels.

In addition, CTS’ venue portfolio, which includes Waldbühne in Berlin, Cologne’s Lanxess Arena and London’s Eventim Apollo, among others, will be expanded at the end of 2025 with the 16,000-cap multi-purpose Arena for Milan in Italy.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

DEAG hits the brakes on re-IPO

German live entertainment powerhouse DEAG is postponing its return to the Frankfurt Stock Exchange.

The group was due to list in Q1 2024 with an offer consisting of a capital increase of €40-50 million, together with an additional offering of existing shares from the holdings of current shareholders.

However, DEAG today (1 February) announced that the management board has decided to continue conversations with investors at a later date as it is “currently in advanced conversations with several acquisition targets in accordance with its growth strategy, particularly in the Ticketing segment”.

The Berlin-headquartered firm first went public in 1998 and delisted in January 2021 in the wake of the pandemic after accepting a takeover offer from its largest single shareholder Apeiron Investment Group and its Malta-based subsidiary Musai Capital.

“The management board has decided to continue conversations with investors at a later date”

The company announced it would re-list on 18 January 2024, adding that the proceeds would be primarily used to further accelerate its growth “in line with its Buy & Build acquisition strategy”, with a focus on “high margin” ticketing businesses and live entertainment opportunities.

According to DEAG, the news was met with “overwhelming positive feedback” and resulted in “numerous conversations with investors on the growth of the company and new entertainment formats”.

DEAG subsidiaries include Kilimanjaro Group (UK), Wizard Promotions (DE), UK Live, My Ticket (DE, AT, UK) and Belladrum Tartan Heart festival (UK). The live entertainment group announced a “consolidation break” in early 2023 after acquiring 15 companies in the previous two and a half years, including Scottish promoter Regular Music, Ireland’s tickets.ie. platform and German festivals Indian SpiritClassic Open Air and Airbeat One, along with CSB Island EntertainmentFane ProductionsGigantic.com and C² Concerts.

In its most recent financial results, released last November, DEAG reported a decline in sales from €235.1 million to €213.3m and in EBITDA from €20.3m to €13.8m in the first nine months of the corresponding financial year.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

DEAG set to return to stock market

German live entertainment powerhouse DEAG has confirmed its intention to return to the Frankfurt Stock Exchange in Q1 2024.

The group plans a listing and offering consisting of a capital increase of €40-50 million, together with an additional offering of existing shares from the holdings of current shareholders.

The company first went public in 1998 and delisted in January 2021 in the wake of the pandemic after accepting a takeover offer from its largest single shareholder Apeiron Investment Group and its Malta-based subsidiary Musai Capital.

Berlin-headquartered DEAG says the proceeds from the re-IPO will be primarily used to further accelerate its growth “in line with its Buy & Build acquisition strategy”, with a focus on “high margin” ticketing businesses and live entertainment opportunities.

As part of the move, DEAG plans to restructure the business into two new segments – live entertainment and ticketing and service – with a key part of the strategy being to drive more of DEAG’s ticket sales through its own ticketing platform. The firm intends to appoint an additional independent supervisory board member within six months of the listing.

“We believe that there is an enormous growth potential in our business,” says DEAG co-CEO Detlef Kornett. “From driving ticket sales toward our own ticketing platforms to acquiring companies which increase synergies within our group and strengthen our strategy of expanded growth in both our live entertainment and ticketing and services businesses, the road ahead of us is paved with opportunity.”

“The foundation of our business stands on our strong historical growth, as shown by the ever increasing number of events we offer since 2019”

The transaction is expected to consist of an admission to the prime standard on the regulated market of Frankfurt Stock Exchange, plus an offering of new shares together with an amount of existing shares from the holdings of current shareholders.

DEAG subsidiaries include Kilimanjaro Group (UK), Wizard Promotions (DE), UK Live, My Ticket (DE, AT, UK) and Belladrum Tartan Heart festival (UK). The live entertainment group announced a “consolidation break” in early 2023 after acquiring 15 companies in the previous two and a half years, including Scottish promoter Regular Music, Ireland’s tickets.ie. platform and German festivals Indian SpiritClassic Open Air and Airbeat One, along with CSB Island EntertainmentFane ProductionsGigantic.com and C² Concerts.

In its most recent financial results, released last November, DEAG trumpeted a “new level of revenue and earnings” after revenue leapt by 73.3% from €123.1m to €213.3m, compared to the last pre-Covid year of 2019.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) also rose significantly. The company was aiming for revenue of more than €300m for 2023 as a whole. In 2022, DEAG achieved revenues of €324.8m and an EBITDA of €30.9m.

“The foundation of our business stands on our strong historical growth, as shown by the ever increasing number of events we offer since 2019 – recurring revenues from over 30 festivals, intellectual property created from children’s musicals to lightrails and our hallmark New Year’s Eve event at the Brandenburg Gate,” adds Kornett.

“We continue to expand our existing, and capitalise on new, business opportunities and develop strategies to complement this business growth in our existing and new markets. As we have shown in the past, we will look to the future with full confidence at the prospects for our business.”

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Live music giants enjoy big stock market gains

It has been a strong week for touring power players on the stock market, with Live Nation, CTS Eventim and Madison Square Garden (MSG) Entertainment all seeing significant gains.

Billboard‘s Global Music Index increased 4.4% to 1,256.06, with 15 of the 21 stocks showing an upswing over the past week. Shares in concert giants LN and CTS were up 8.4% and 9.2% respectively, spurred by recent positive financial results for Q1 2023.

Live Nation posted revenue of $3.1 billion (€2.8bn) for the first quarter – up 73% on the corresponding period 12 months ago – with record results across all divisions. The earnings call prompted a notable uptick in the company’s share price, increasing from $66.76 to $75.91. The stock has since soared a further 12%, standing at $85.13 at press time, boosted by a bullish forecast by CEO Michael Rapino.

“What is clear as we look at our results and operating metrics is that global demand for live events continues to reach new heights – demand has been growing for a long time and is showing no signs of letting up,” said Rapino. “We expect to host a record number of fans this year, even against a 2022 comparison which benefited from rescheduled shows attended by 20 million fans.”

“The results show that live entertainment remains as popular as ever”

It is a similar story at pan-European giant CTS, which reported last week that ticket sales were up 58% on 2022, while consolidated revenue rocketed 163% year-on-year to €366.2m. Shares in the German-headquartered firm jumped 3% to €62.60 and have continued on an upward curve to €64.75.

“The results show that live entertainment remains as popular as ever,” said CEO Klaus-Peter Schulenberg. “Our customers have high expectations when it comes to buying tickets – especially for tours featuring top acts – and we have comfortably met these expectations. Both in Germany and internationally, we are pursuing organic growth and anticipate that our business performance will continue on its successful course.”

But it was MSG Entertainment, which reported a 4% year-on-year rise in revenues to $201.2m for the fiscal 2023 third quarter – its first as a standalone company following its spin-off from Sphere Entertainment – that experienced the biggest uplift. Shares leapt a huge 19.4% amid rumours it is negotiating a $1 billion deal to sell the former Hulu Theater, as Guggenheim initiated coverage of the company with a buy recommendation. The share price increased a further 2% today to $36.54.

“With the completion of our spin-off, MSG Entertainment begins its new chapter as a standalone, pure-play live entertainment company,” said executive chairman and CEO James L. Dolan. “We remain confident in the strength of our assets and brands and believe that we are well-positioned to create long-term value for shareholders.”

“We remain confident that this next chapter for our company will drive long-term shareholder value”

Shares in Sphere Entertainment also improved 6.1% last week and a further 1% today to $24.97. The firm reported an operating loss of $70.3m for fiscal Q3 on revenues of $363.3m.

“As we approach the opening of Sphere in Las Vegas, we remain confident that this next chapter for our company will drive long-term shareholder value,” said Dolan.

Billboard also reports that share prices for HYBE, SM Entertainment, YG Entertainment and JYP Entertainment have increased by an average of 75% year to date.

Elsewhere, Anghami, the largest music streaming service in the Middle East and North Africa (MENA), which acquired Dubai-based event management company Spotlight Events, climbed 1.7% and stands at $1.26.

UK-based music company ATC, which listed on the Aquis Growth Market in London in December 2021, has also seen its share price rise from 90p (€1.03) to 92.5p over the past month. The firm bettered its own expectations to record a profit on revenue of £12.1 million (€13.9m) in its first full year as a a public company.

“We are delighted with the progress we have made in our first year as a PLC, delivering 33% top line growth and profitability earlier than expected, whilst also investing in a number of important strategic developments for the group,” said ATC Group plc CEO Adam Driscoll.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Public live cos add nearly $6bn since March crash

The main publicly listed live entertainment companies have added US$5.75 billion – or nearly $1bn a month – to their collective value since the worst of the Covid-19-induced stock-market crash in March, new analysis reveals.

Combining the market capitalisations of Live Nation, CTS Eventim, DEAG, Time for Fun and Eventbrite, as well as a relevant percentage of Vivendi’s business, shows the six companies were worth nearly $6bn more on 21 September than 20 March, in spite of the six-month-and-counting shutdown of nearly all live experiences.

As in previous IQ coverage of live music’s (pre-coronavirus) stock-market performance, Live Nation Entertainment – the world’s biggest live entertainment business – is the biggest mover, growing its market cap by nearly 60% in the period analysed.

Worth $7.29bn on 20 March, with a share price of $33.97, Live Nation (LYV)’s market cap stood at $11.55bn six months later, with most financial analysts confident the concert behemoth will bounce back strongly post-pandemic. As of 9 September, of the 12 firms covering Live Nation stock, seven have assigned it a ‘buy’ rating, one a ‘strong buy’ and one a ‘hold’, with none recommending a ‘sell’.

While the recovery of Live Nation – which has made an estimated $600m in savings this year, believed to include widespread redundancies globally – is impressive, five of the six businesses included have rebounded strongly over the last six months, with only DEAG shares having declined in price as of 21 September.

Berlin-based Deustche Entertainment AG (LOUD), which trades on Frankfurt’s Xetra exchange, had around $11 million (€9.4m) shaved off its market cap after the value of its stocks fell from €3.48 on 20 March to exactly €3 on 21 September. As of the latter date, DEAG’s market capitalisation was €58.9m ($68.9m), down around 14% on €68.3m ($79.9m) six months previous.

Live Nation is the biggest mover, growing its market cap by nearly 60% in the period analysed

Yet DEAG stock, too, is strongly rated by market watchers: analysts’ ratings similarly lean heavily towards a ‘buy’, with even the most pessimistic financial observers giving the company’s stock a price target of €3.50 in the short term (while noting that DEAG should “return to pre-corona levels” by 2022).

Of the other four businesses, another German company, public pan-European concert and ticketing giant CTS Eventim, was the stand-out performer, growing its market cap more than $1bn by adding nearly €10 to its share price.

Compared to 20 March, when its share price was €31.78 and market cap €3.05bn, CTS Eventim (EVD) shares traded at €41.14 six months later, giving the company a market capitalisation of €3.95bn at the time of writing.

Brazil’s Time for Fun/T4F Entertainment (SHOW3) – the largest promoter in South America – has seen its value increase 42%, from R$131m ($23.8m) to R$186.1m ($33.8m), while US-based self-service and club ticketing specialist Eventbrite (EB) is up 61%, growing its market cap from $649.2m to $1.06bn in the same period.

French media conglomerate Vivendi (VIV), meanwhile, has seen its market cap rise from an estimated €20.9bn in March to €26.38bn on 21 September. The company’s Vivendi Village unit – which incorporates its live (Olympia Production, U Live, festivals and venues in France and Africa) and ticketing (See Tickets, Starticket, Paylogic) businesses – accounts for some 0.34% of the business: €26m in revenue, of €7.58bn total, per its H1 2020 report.

Many outside observers agree live music’s recovery will be complete by 2022

While it should be noted the industry is far from back to its pre-Covid-19 value – Live Nation stocks were once worth nearly $75, while Eventim shares hit a high of €60 in January – the rally bodes well for a sector often described as the first to close and last to reopen, and which has been hit particularly hard by the impact of the virus.

Additionally, the live music industry welcomed two newly public businesses – MSG Entertainment, spun off from the Madison Square Garden Company, and Warner Music Live/Umbrella Artists owner Warner Music Group, which floated in April and June, respectively – in the same period, and which would likely have pushed the $5.75bn figure even higher were those companies trading in March.

With so-called second lockdowns looming in many territories, it remains unclear how global markets will perform in the months ahead, as well as the effects, positive or otherwise, any volatility will have on live music stocks.

One thing, however, many outside observers seem to agree on is that live music’s recovery will be complete by 2022.

As IQ revealed earlier this month, financial consulting firm PricewaterhouseCoopers (PwC) is predicting a complete recovery by 2022, with the value of the live music market (public and private) set to reach $29.3bn – over $300m more than 2019’s $28.97bn – that year, while investment bank Goldman Sachs is similarly bullish, with its head of European media research, Lisa Yang, also heralding a return to normal in 2022.

Read PwC’s live music growth predictions here:

Live music down 64% this year – but will rebound in 2021


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.