Ticker: Concert sales boom in 2023; Ford pauses shipping on Lightning pickups

Live Nation Entertainment reported that concert attendance jumped by 20% in 2023 — the year global pop sensations Beyoncé and Taylor Swift launched their blockbuster greatest-hits tours.

The Beverly Hills-based ticket vendor and concert promoter also noted in its latest earnings report that ticket sales were up 30%, with more than 620 million tickets sold by Ticketmaster bringing in nearly $36 billion. In 2023 alone, more than 145 million people attended upwards of 50,000 live events, the company reported.

All of this has led to the live music behemoth increasing its revenue by 36% in 2023 to $22.7 billion, and growing  its operating income by 46% to $1.07 billion.

“The live music industry reached new heights in 2023, and demand for live music continues to build,” said Michael Rapino, chief executive of Live Nation.

Ford pauses shipping on Lightning pickup

Ford Motor Co. has paused shipments of the 2024 F-150 Lightning pickup truck as part of a longer-than-expected quality check process.

A spokesperson declined to specify why the quality check is taking so long. The stop-shipment went into effect on Feb. 9 after shipments of the ’24 Lightnings began last month. Despite the hold, production of the Lightnings continues at the Rouge Electric Vehicle Center in Dearborn, Michigan.

“We expect to ramp up shipments in the coming weeks as we complete thorough launch quality checks to ensure these new F-150s meet our high standards and delight customers,” the company said in a statement Friday sent by spokesperson Emma Bergg.

from Boston Herald https://ift.tt/2vbXpV5