There are few surprises in the latest quarterly financial results for Live Nation. Revenues were down 95% year-on-year – slashed from $3.77bn in Q3 2019 to just $184m a year later.
The live giant reported an operating loss of $504.4m, compared to an operating profit of 260m a year ago. For the first nine months of 2020, Live Nation’s operating loss is now $1.27bn.
The company tried to find some bright spots: for example the fact that 83% of fans have hung on to tickets for rescheduled shows, rather than request refunds.
“While we see signs of promise around the world as some live events return, most regions we operate in continue to have various restrictions on live events,” was the overall verdict.
“Our recent global survey indicates that 95% of fans are planning to return to live music events when restrictions are lifted, the highest point of confidence since the start of the pandemic.”