Live Nation's record $10.1B quarter: fans still pay to be there

Live Nation reported record third-quarter revenue of $10.11 billion, with about 61 million fans at its events and concerts alone bringing in $8.75 billion, up 20.1% from a year ago. CEO Michael Rapino said that in a world of AI-generated everything, being in the room is the one thing that cannot be copied, and the company has sold 170 million tickets through October. Paired with The Weeknd's record-setting tour, the takeaway for indie artists is clear: streams build awareness, but the live show is the asset nobody can fake.