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![]() ![]() On the labor front, we were able to set staffing requirements for our peak outdoor season without any show disruptions. and UK, and allowed us to work in conjunction with local health officials to mitigate transmission risks from our events. More importantly, our protocols proved effective at mitigating major COVID disruptions to our business in the U.S. ![]() On the health and safety front, we set the industry standard by requiring proof of vaccine or testing for our shows, with no change in fan purchase behavior. ![]() We delivered these results with an operating environment that required us to wrap up quickly it's new health and safety protocols, and staff our frontline in a tight labor market. In addition to increasing attendance, strong demand also enabled improving pricing with average amphitheater and major festival pricing up double-digits relative to 2019, and at our shows, fans spend at record levels with onsite spending per fan up over 20% in both amphitheaters and festivals compared to 2019. Then we had a number of our tours are already sell over 500, 000 tickets for tours this year, including sellout tours by Harry Styles, Chris Stapleton, and others. Festivals were large part of our return to live this summer with many of our festivals selling out in record time, and then overall ticket sales for major festivals was up 10% versus 2019. The 2021 summer concert season rebounded quickly, with 17 million fans attending our shows in the quarter has returned to live, reflected tremendous pent-up demand. Live music roared back over the past quarter, driving all our business stipends to positive AOI for the first time in two years with companywide AOI of $306 million. It is now my pleasure to turn the conference over to Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. The release reconciliation and website supplement can be found under the financial information section on Live Nation website at investors. In accordance with the SEC Regulation G, Live Nation has provided definitions of these measures and a full reconciliation to the most comparable GAAP measures in their earnings release or website supplement, which also contains other financial or statistical information to be discussed on this call. Live Nation will also refer to some non-GAAP measures on this call. Please refer to Live Nation's SEC filings, including the risk factors and cautionary statements included in the Company's most recent filings on Form 10-K, 10-Q, and 8-K for a description of risks and uncertainties that could impact the actual results. Before we begin Live Nation has asked me to remind you that this afternoon's call will contain certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ, including statements related to the Company's anticipated financial performance, business prospects, new developments, and similar matters. Following management's prepared remarks, we will open the call for Q&A. At this time, I would like to welcome everyone to Live Nation Entertainment's Third Quarter 2021 Earnings Conference Call. My name is Hector, and I will be your conference Operator on today's call. Live Nation Entertainment, inc ( NYSE:LYV) Q3 2021 Earnings Call Nov 4, 2021, 5:00 p.m. ![]() |
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