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| Statement |
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| So, all fronts are showing strong consumer demand globally |
| Sponsorship, to your macro point, the demand we're seeing, strong as ever |
| We're really happy about the Venue Nation team, our global development team |
| So that's the great growth opportunity obviously |
| We really have the best per-cap on-site spending right now at our theaters and clubs, just given that its Q1, those numbers continue to be strong and show year-on-year growth |
| Our demand in terms of clients that want to be part of this live experience surge right now is stronger than ever, as you can imagine |
| I think, first of all, our show pipeline is up double digits, very strong for -- driven by the arenas and amphitheaters as we've talked about |
| So, we're seeing strong demand at all price points |
| So absolutely, we see a very strong continued growth in that business |
| That, obviously, will translate into improved margin on the Concert segment this year, which should particularly come through in the second and third quarters |
| So, the volume of fans that we're confident in having and our ability to drive the profitability off of those fans gives us the visibility and confidence that we're going to deliver double-digit growth this year |
| They were buying all the sweatshirts and onsite the GM told me they were -- we're doing really strong numbers |
| So, you'll see us move up and down depending if there is a big opportunity, but we've been pretty consistent that we can deliver our growth that we've outlined for you with that current number |
| But the growth rate in Sponsorship obviously could outgrow and grow more than potentially that of Concerts at some future day, right, if we're sort of plotting those lines? Joe Berchtold Well, I think if you look historically, look back since 2010, Concerts has consistently grown faster than our Sponsorship business, and we think it continues to be a strong double-digit growth business |
| So, we still outperformed, grew Ticketmaster in the fourth quarter, increased our number of fee-bearing tickets by about 5 million |
| So, we still think that's a multi-year opportunity to continue to grow our top-line/bottom-line |
| And you've done a pretty incredible job of increasing per caps over the last decade |
| We think our amphitheaters are run very well |
| They're very efficient, and they've been great machines to-date |
| Let's price this better." So that's our best sales pitch |
| We think we can double the business as we start to actually look inside the hood and upgrade on site, whether it's our Liquid Death idea that has been a huge surge in our food and beverage, our shaker cup, our own custom-branded liquor that we launched on site to our new clubs, we're rolling out to our VIP boxes, to our elevated |
| This is going to be a great year |
| We're pacing ahead on our arena and our amphitheater business, which is the higher-margin business as we've talked about |
| So, we see it scaling over the next five years much, much higher than it was in the past just because we hadn't focused that much on international arenas before, and we see a great path forward on these |
| I think absolutely there are increasing benefits to scale on the Sponsorship business |
| We expect this to continue to be a double-digit growth business, as we've seen in the past |
| Michael gave all the reasons why we're highly confident in our ability to execute at our amphitheaters now |
| They do incredible job |
| But we also have an incredible amount of opportunity to monetize the scale we have |
| So, we think the 50 amphitheaters we have, the bones of them are amazing |
| Statement |
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| Yeah, we're actually surprised and thrilled because we were always skeptical, if we would be the one led path, there was any conversion that would hurt us |
| I think that's continuing to rise at a rate lower than our revenue, lower than our ticket sales |
| So, I would assume this ends up being legislated somewhere over time, and I would assume others are going to start jumping on the all-in wagon as a good step forward for consumers, so we can worry about the other issues around scalping, et cetera |
| So, we're not doing that |
| We've seen nothing slowing down there |
| But that was against the headwind of that mix shift |
| Deferred revenue in the level to which it's up is impacted on a timing basis by what we've talked about in terms of stadium volume being lower this year, amp volume being higher |
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