Release Date: February 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you discuss the current consumer demand trends for stadium shows and any changes since November? A: Michael Rapino, CEO: We have seen strong demand with sell-through rates at stadiums higher than any previous year. Over 75% of tickets are sold in the first week, indicating no slowdown in demand despite increased inventory.
Q: How does the mix shift to stadiums impact concert segment margins and AOI growth? A: Joe Berchtold, CFO: This year resembles 2023 with significant stadium volume. Ticketmaster benefits greatly from stadium shows, and we expect strong revenue growth. Sponsorships are performing well, and we anticipate double-digit AOI growth, though the exact balance will depend on growth in other venues like amphitheaters.
Q: Why is Ticketmaster's transacted ticket volume up only 3% despite strong concert ticket sales? A: Joe Berchtold, CFO: Concert tickets are up 10%, but Ticketmaster's overall volume is up 3% due to less activity in non-concert events. The timing of on-sales also affected deferred revenue growth, with stadiums dominating the fourth quarter.
Q: Are high ticket prices for stadium shows a concern, and how do you expect ticket prices to evolve? A: Michael Rapino, CEO: Artists are pricing tickets more strategically to balance accessibility and market value. High-end tickets may remain unsold until closer to show dates, but overall pricing is effective in reducing secondary market sales.
Q: What are your thoughts on the DOJ antitrust discussions and trial timing? A: Joe Berchtold, CFO: The trial is set for early next year. We hope the current DOJ is open to settlement discussions, unlike the previous administration. However, no discussions have occurred yet as the relevant DOJ official has not been appointed.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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