雅虎香港財經 Top 15 Live Entertainment Companies in the World
In this article, we take a look at the top 15 live entertainment companies in the world. For more on this, go to Top 5 Live Entertainment Companies in the World.
Live Entertainment is a multi-billion dollar global industry roughly generating a total of $182.19B annually. From casinos to concert promoters to event organizers and theater productions, there is a diversity of small and big companies competing and succeeding within the industry.
The year 2021 was challenging for the global Live Entertainment industry. During the year, the COVID-19 outbreak brought the world to an abrupt halt, and every avenue of Live Entertainment remained shut.
Activities resumed soon after the lockdowns were lifted, and the appetite for live events rapidly grew among consumers. Resultantly, the industry recovered at a fast pace, and the year 2022 saw a significant increase in revenue, with a total of $74.89 Billion.
Industry Trends and Key Players
The industry trends within the Live Entertainment industries keep changing, and many factors come to play when we talk about this. Vito Iaia, the Co-founder of Impact Museum who also spent eight years with Ticketmaster and Live Nation, said that the Pandemic changed the dynamic of the Live Entertainment industry completely.
Trends within each industry that make up the live entertainment industry are influenced mainly by technological advancements and consumer demands. The only industry that operates in a different manner when it comes to trends is the theme park industry, which is controlled primarily by standard-setting organizations like the International Association of Amusement Parks and Attractions (IAAPA) or Themed Entertainment Association (TEA). Before the Pandemic struck, in 2018, the total revenue generated by the Live Entertainment industry was 56.38 Billion USD.
Now, analysts estimate the market to be five times bigger due to the growth of the Live Entertainment industry and the increase in demand for immersive experiences within the industry. Consumers now look forward to experimental content.
With the advancements in the AI sector, the industry continues to grow even further. According to a Statista report, the Live Entertainment Industry saw the lowest year in revenue in 2020 but has risen at a fast pace ever since.
One thing to note is that, throughout the years, the theme park and the music industry have taken the lead. They are then followed by the gaming and sports industry. After that comes comedy, followed by theatre.
The key players in this industry are the companies that fall under the Theme Parks and Music and Concerts category, i.e., The Walt Disney Company (NYSE: DIS), Live Nation Entertainment (NYSE: LYV), and the Oriental Land Company (NYSE: OLCLY).
Outlook: 10 Years From Now
Before COVID-19, the Live Entertainment Industry was massive, but not as much as today. In 2017, the total revenue generated was $72.33 billion. It rose gradually until 2019 but saw a sharp decline in 2020 when the pandemic hit, with total revenue of $16.48 billion for the year.
After the pandemic, in 2021, there was a drastic increase in revenue, and the figure rose to $29.18 billion. According to forecasts, in 2023, the revenue will be $88.45 billion, and the industry will see another 6% increase by 2024.
The Theme Park industry contributes the most to the Live Entertainment industry. It had a revenue of $82.4 billion in 2022 and is expected that this industry will grow at a CAGR of 5.2% by 2030. The noteworthy point here is that the theme park industry makes up only one portion of the Live Entertainment industry. So, the industry will grow a lot more than that.
By 2025, the industry growth is projected to slow down a little. Although the numbers will not grow as rapidly as they are growing today, it is still expected that the Live Entertainment industry will reach a $2.93 trillion figure by 2026.
If we look more towards consumer trends, research conducted by Virgin Media O2 concluded that nine out of ten people prefer live entertainment over other pastime activities. 64% of people even claimed that they would prioritize it in their monthly spending, wherever they can. Given this consumer mindset and the industry outlook, live entertainment will only grow more in the next ten years.
Kobby Dagan / Shutterstock.com
Our Methodology
For our list, we've ranked the top companies in ascending order based on their market cap in May 2023. We have also discussed the size of the companies and revenues within this list.
Here are the top 15 live entertainment companies in the world:
14. Cinemark Holdings, Inc. (NYSE:CNK)
Current Market Cap: $1.99 billion
Established in 1984, Cinemark Holdings, Inc. (NYSE:CNK) operates within the United States. The company produces and projects motion pictures across various platforms, including theaters. Currently, Cinemark Holdings, Inc. (NYSE:CNK) has 516 theatres in the US and Latin America, and is considered a leader in the theatrical exhibition industry.
Cinemark Holdings also has a 30% market share in Brazil, which makes it the largest movie theater chain in the country. It is a large-sized company with more than 19,000 employee count as of 2022 and a market cap of $1.97 billion currently.
13. Cedar Fair, L.P. (NYSE:FUN)
Current Market Cap: $2.10 billion
Cedar Fair, L.P. (NYSE:FUN) is a prominent name in the Amusement Parks industry. Founded in 1983, it now has 4,400 full-time employees and parks at 16 locations within the United States and Canada.
The parks offer thrill rides, water slides, live entertainment, events, food, and lodgings to approximately 28 million visitors annually. For 2022, Cedar Fair, L.P. (NYSE:FUN) generated $1.82 billion in revenue. With a footfall of 1.1 million guests for the first quarter of 2023, the company's market cap is $2.10 billion.
15. Six Flags Entertainment Corporation (NYSE:SIX)
Current Market Cap: $2.24 billion
With a current market cap of $2.24 billion, Six Flags Entertainment Corporation (NYSE:SIX) operates within the theme parks industry, therefore, being one of the top live entertainment companies in the world. Currently, it has a staff of 1,970 employees, per information available with ZoomInfo.
The parks under the Six Flags Entertainment Corporation (NYSE:SIX) are named Six Flags. They offer rides, themed attractions, water attractions, concerts, gaming venues, etc. The TTM revenue for the company in 2022 was $1.4 billion.
12. Lions Gate Entertainment Corp. (NYSE:LGF-A)
Current Market Cap: $2.29 billion
Ranked 28th on the list of Top 100 Media companies, Lions Gate Entertainment Corp. (NYSE:LGF-A) has been in business for more than 25 years — formed in 1997. It operates within the 'Motion Picture, Video & TV Program Production Activities' sector.
Lions Gate has made its mark in the live entertainment industry through theaters and broadway shows like La La Land Broadway. In 2019, however, it extended its operations in the themed parks industry when it launched the Lions Gate Entertainment World in China.
The company is expansive, with roughly 3,500 employees working full-time. In 2022, the total revenue generated by the company through all avenues was $3.597 billion. For the third quarter of fiscal year 2023, Lions Gate Entertainment Corp reported a revenue of $1.0 billion.
11. SeaWorld Parks & Entertainment (NYSE:SEAS)
Current Market Cap: $3.50 billion
With 14,200 people employed as of 2021, SeaWorld Parks & Entertainment is a theme park company operating across the United States. They have parks at 12 different locations and multiple globally-recognized brands under their name, including Busch Gardens and Sesame Place.
SeaWorld Parks & Entertainment is a subsidiary of SeaWorld Entertainment Inc. and a leading zoological organization with 50 years of experience. Having a current market cap of $3.50 billion, SeaWorld Entertainment holds the 2920th rank on the list of most valuable companies by market capitalization.
10. AMC Entertainment Holdings, Inc. (NYSE:AMC)
Current Market Cap: $4.50 billion
AMC Theatres is the business name for AMC Entertainment Holdings, Inc. (NYSE:AMC). They’ve been in the industry since 1920, initially known as Dubinsky Bros. AMC Entertainment Holdings, Inc. (NYSE:AMC) rebranded four times after that and settled at AMC in 1960.
Presently, AMC Theatres has a market cap of $4.50 billion, which makes it the 2508th most valuable company in the world by market capitalization. The company generated a revenue of US$3.91 billion in 2022, with 33,694 people employed.
9. Melco Resorts & Entertainment (NASDAQ:MLCO)
Current Market Cap: $5.88 billion
Based in Hong Kong, Melco Resorts & Entertainment (NASDAQ:MLCO) operates in the hospitality and tourism industry, particularly in the casino, entertainment, and hotels genre. They claim to be setting standards for sustainability within the industry, aiming to achieve total carbon neutrality and zero waste across all their properties by 2030.
Founded in 2004, Melco Resorts & Entertainment (NASDAQ:MLCO) has earned its position as a leading name in the global Live Entertainment Industry, with roughly over 17,800 people employed and a market cap of $5.88B. The TTM revenue as reported by the company on December 31, 2022, was $1.350B.
8. Vivendi
Current Market Cap: $11.90 billion
Vivendi is a French company with multiple subsidiaries, including Vivendi Village, Gameloft, and Dailymotion. Through Vivendi Village, the company contributes to the Live Entertainment industry. They organize a variety of successful events in France and the UK, mainly in the music and concerts sector.
In 2022, Vivendi had around 35,911 employees and generated a revenue of $2,567,204.50 within the first quarter of 2023. Currently, Vivendi’s market cap is $11.90 billion.
7. Wynn Resorts, Limited (NASDAQ:WYNN)
Current Market Cap: $13.03 billion
Wynn Resorts Limited is an American company based in Nevada. Founded in 2002, the company has been in the hospitality, tourism, and gaming industry for 21 years. With a market cap of $13.03 billion, Wynn Resorts stands at the 1214th number on the list of most valuable companies in the world by market cap. In 2022, Wynn Resorts reported an employee count of 27,000 and a TTM revenue of $3.75 billion.
6. Warner Music Group Corp. (NASDAQ:WMG)
Current Market Cap: $14.06 billion
The Warner Music Group Corp. (NASDAQ:WMG) was founded in 2003 and is considered one of the big three names in the music industry and a leading one in the Live Entertainment industry. Under its different brands, like Warner Music Entertainment, Warner Music Group Corp. (NASDAQ:WMG) organizes concerts and live events for its audience.
In 2022, the total revenue generated by WMG was $5.8 billion. As the company entered 2023, it had approximately 6,200 employees but has recently decided to cut down 4% of its staff and may have less than 6,000 employees from hereon. According to reports, the company experienced an 8% decrease in revenue during the first fiscal quarter (Ended: Dec 2022). Currently, Warner Music Group’s market cap is $14.06 billion.
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Disclosure: none. Top 15 Live Entertainment Companies In The World is originally published on Insider Monkey.
