Live Nation Stock Is on Pace for a Record. People Still Want Concert Tickets.

Nick Jonas (left), Joe Jonas and Kevin Jonas of the Jonas Brothers perform during NBC’s Today show at Rockefeller Plaza in New York City this month. (ANGELA WEISS/AFP via Getty Images)

Live Nation Entertainment stock has been on a tear this year as concertgoers continue to splurge on tickets to see their favorite artists.

Social media has been buzzing with viral clips of popular musicians this week, including videos of Demi Lovato joining the Jonas Brothers at New Jersey’s MetLife Stadium over the weekend, and Taylor Swift announcing the name of her latest album on Tuesday. That excitement, plus consistently strong concert ticket sales, continues to give Live Nation investors reason for optimism regardless of uncertainty about the economy.

Live Nation stock was up 0.1% to $158.61 in morning trading, putting it on track to close at a record high, according to Dow Jones Market Data.

While investors are worried that price increases resulting from President Donald Trump’s tariffs will force consumers to cut spending on nonessential goods, Live Nation, the parent company of Ticket Master, hasn’t suffered a slowdown in sales. The stock has reflected that: Shares have now risen 22% this year and 70% over the last 12 months.

The company reported second-quarter earnings of 41 cents a share on Aug. 7, which was below Wall Street estimates of $1.03 a share. However, revenue of $7 billion beat expectations for $6.85 billion, marking a 16% increase from the same period last year.

“Global expansion continues to drive touring growth, with fan attendance hitting new highs and ticket buying strong at every
price point from VIP to the back row,” CEO Michael Rapino said in the earnings release. The stock has now risen for four consecutive days.

Deutsche Bank analyst Benjamin Soff increased his price target on Live Nation to $175 from $170 while maintaining a Buy rating on Monday. “Consumer demand for live events appears to be holding up as well, and
leading indicators for the business support a healthy growth outlook for
2H25,” he said.

Wolfe Research analyst Peter Supino also raised his price target to $173 from $168 and maintained an Outperform rating on the stock.

“Live entertainment supply and demand are enjoying a virtuous cycle driven by artist economics, streaming, and social media,” Supino wrote in a note on Aug. 8. “Live Nation’s leading management team and global portfolio of ticketing, promotion capability, venues and sponsorship sales position the company for years of double-digit profit growth.”

Still, there are risks. Not only could demand for ticket slip, the Justice Department sued Live Nation-Ticketmaster in May 2024, alleging monopolization and other unlawful conduct that hurts competition in markets across the live entertainment industry. Live Nation has previously said it is “absurd to claim that Live Nation and Ticketmaster wield monopoly power.”

Write to Angela Palumbo at angela.palumbo@dowjones.com