Live Nation Made $20 Million On “National Concert Day,” Just Like Every Other Day
Today is apparently something called “National Concert Day.” As a promotion for “National Concert Day,” the behemoth corporation Live Nation announced that it would be selling 1 million tickets to select 2017 concerts for just $20. In Googling “National Concert Day,” I only saw results for news stories about this “promotion,” so it’s entirely possible that the “day” was invented by Live Nation for the sole purpose of garnering positive press.
In any event, one can safely assume that Live Nation sold all 1 million of its $20 tickets. Simple math would tell us that in doing so, Live Nation would have collected $20 million. Now, they may be selling those tickets at a discount, so who knows what the actual profit is. The revenue, though, is a very easy math equation.
But how does that compare to a normal day for the company? Let’s do some more math. Last year, Live Nation reported $7.2 billion in revenue for the year 2015. If you divide $7.2 billion by 365 days, you find out that Live Nation, on average, takes in… $19,726,027 per day. So, uh, congrats to Live Nation on a very normal business day dressed up in the costume of charity to its customers?