- Event-Related Deferred Revenue Up 86% to $774 Million as of September 30
- Concert Tickets Sold for 2017 Shows Over 80 Million, Up 20% through October
- Sponsorship & Advertising Contracted Net Revenue Up 13% through October
- Ticketmaster Fee-Bearing GTV Up 14% through September
- Revenue Up 12% for the Quarter to $3.6 Billion
- Operating Income Up 5% for the Quarter to $201 Million
- Adjusted Operating Income Up 10% for the Quarter to $335 Million
Ticketmaster Marketplace and Product Expansion
Ticketmaster continues building its position as the global ticket marketplace leader, with 14% growth for the nine months in global fee-bearing gross transaction value, or GTV. Ticketmaster will deliver almost 500 million tickets worth approximately $28 billion in GTV across 29 countries this year, making it the world’s largest such marketplace. And the success of our marketplace is stronger than ever, as all three quarters in 2017 have been amongst our top 10 quarters ever. Underlying this growth is our product innovation, and this has been an important quarter for us as we have scaled our Verified Fan product, and announced our first league-wide conversion to digital ticketing.
Ticketmaster’s Verified Fan has developed a proprietary process, leveraging algorithms which separate true fans from bots and deliver the tickets to fans, to drive a 90% reduction in the number of tickets ending up on the secondary market. During the third quarter, we substantially scaled the product and we have now worked with over 60 artists and Broadway shows, including Taylor Swift, Harry Styles, Hamilton and Bruce Springsteen on Broadway. As a result, by the end of this year I expect we will deliver three million tickets to Verified Fans, saving them $100 million dollars relative to buying on secondary sites after bots got the tickets first.
We also announced our digital ticketing rollout with the NFL in September, and starting next season all NFL game tickets will be digital. This will allow us to better identify the fans attending the games, understand in much greater detail the behavior of these fans, reduce fraud and frustrated fans, and work with our clients to create new profit streams in ticketing.
As importantly, these products come as we have had continued success on our core operations. Our mobile and desktop platforms continue to provide an improved online experience, with 34% growth in mobile ticket sales this year and double-digit improvements in conversion on both mobile and desktop. And at the same time, our open strategy continues selling more tickets for clients off-platform, up 20% for the nine months, with almost 10 million tickets sold.
Overall, Ticketmaster’s results are validating our dual strategy of delivering a great marketplace for fans to buy tickets while providing the greatest value to venues, teams and artists looking to control their tickets and maximize the value of their events. By continuing to do both effectively, I currently expect us to deliver high-single-digit growth in Ticketing operating income and AOI this year.
As we approach the end of 2017, we are confident that our strong performance will deliver another year of record top line, operating income and AOI. All of our businesses — concerts, advertising and ticketing — have delivered growth for the nine months, and based on their key operating metrics, we currently expect each to deliver record revenue, operating income and AOI for the full year. As we look forward, we see tremendous opportunities to continue global consolidation of our concerts and ticketing businesses, and for further growth in advertising and ticketing from the concerts flywheel.