Andy Grammer, live from the Greek… Earnings, live from the boardroom. Concert giant Live Nation reports Thursday. The Ticketmaster-owner had its best first quarter ever this year, as artists returned to fan-packed venues. Through April, Live Nation’s bookings were up 44% from pre-pandemic levels. In May, Live Nation anticipated a record year based on concert and festival ticket demand (think: Lollapalooza). But the average resale ticket price has soared 45% since the start of the pandemic, when Live Nation’s biz was decimated. We’ll see if concert-flation hit – or helped – earnings.
Bye bye YOLO economy… People are feeling less lucky this year, and casino resort companies may take a hit. US casinos had their best year ever in 2021 as cooped-up consumers returned to spend their lockdown stimmy savings. Since then, inflation has soared and savings have dried up. Casino stocks have lagged behind the S&P 500 this year. People are still visiting, but they’re not spending as much (less Blackjack, more all-you-can-eat buffet). We’ll see how the odds look when Caesar’s and MGM Resorts report this week.