Live Nation CEO Michael Rapino told CNBC's Jim Cramer on Tuesday that the nature of live music keeps it in demand, which helps the business stay strong — even though some consumer-oriented companies report a pullback due to inflation.
Live Nation, which also owns Ticketmaster, has its hand in many aspects of the industry.
Live Nation shares jumped more than 4% Tuesday after the company posted earnings and reported its most successful summer concert season to date.
Rapino claimed that 2025 would likely be "a record year" with a lot of stadium performances, adding that Live Nation has already sold more than 20 million tickets.
"The amount of music available to the consumer today has just propelled this idea that they want to see the live show."
Persons:
Michael Rapino, CNBC's Jim Cramer, Ben Folds, Rapino
Organizations:
Disney, Ticketmaster, U.S . Department of Justice, Nation, Spotify