As Donald Trump prepares to rise to power, Live Nation executives believe his administration and the Justice Department under Trump will be more favorable to the company.

“We are hopeful that we will see a return to the more traditional antitrust approach, where agencies have generally tried to find ways to solve the problems they face with targeted solutions that minimize government intervention in the market,” Live said Nation President Joe Berchtold. on Monday’s corporate earnings.

The comments come after the Justice Department sued the company in late May for antitrust violations. The lawsuit alleges that Live Nation used its position as the nation’s largest concert promoter, ticket seller and venue owner to outcompete competitors. One of the proposed solutions is the breakup of Live Nation and Ticketmaster.

“Without getting into the details, we think that at least some parts of the case today reflect a much more interventionist philosophy than you would expect from a Republican administration,” Berchtold said Monday. “The request to break up Live Nation and Ticketmaster would obviously be an example of that very interventionist approach.”

He added that the new administration still needs to make agreements within the DOJ and sort things out, but that Live Nation hopes to start discussions with them early next year. When asked if the company would also consider additional acquisition opportunities under Trump, Berchtold said they have “no significant M&A targets.”

Live Nation on Monday reported third-quarter revenue of $7.7 billion, down 6 percent from the same period a year ago, and third-quarter operating income of $640 million, down 2 percent, as the ticket – and promotion company predicts that there will be more concert momentum. 2025.

The company’s concert sector brought in $6.6 billion, also down 6 percent from the same period last year, while ticket sales fell 17 percent year-over-year. Sponsorship and advertising increased by 6 percent. Revenue fell short of analyst expectations, while earnings exceeded analysts’ expectations at $1.72 per share.

Still, Live Nation was optimistic about the momentum. In the third quarter, the company reported the highest concert profitability with adjusted operating income of $474 million, up 39 percent from the previous year. Venue Nation fans spent more on-site, with a double-digit increase in on-site spending per fan at major festivals and a 9 percent increase at amphitheaters this year.

The company has sold 144 million tickets for Live Nation concerts through October, a 3 percent increase over previous years. In October, ticket sales for Ticketmaster increased by 15 percent over total ticket volume and by 23 percent for concert events, including Live Nation shows.

Overall, tickets sold worldwide rose more than 20 percent year-on-year in September and October, reflecting continued strong demand.

The company believes momentum will remain strong through 2025, with the major venue concert pipeline increasing by double digits compared to this point in 2023 and the stadium pipeline increasing by double digits compared to this point in 2022. There are more than 20 million tickets sold. already sold for Live Nation concerts in 2025, a double-digit increase from last year, and the recent stadium sales in 2025 for artists such as Coldplay, Rüfüs Du Sol and Shakira have seen average double-digit growth in the gross receipts over previous tours, according to the company.

“We have completed our most active summer concert season ever, our show pipeline has never been greater and brand sponsorships are increasing. Although operating income will be impacted by one-off provisions, we are moving towards double-digit AOI growth this year. As we look toward an even bigger 2025, we have an expanded slate of stadium, arena and amphitheater shows for fans to enjoy. The momentum continues to grow as we expand the industry’s infrastructure with music-focused venues to support artists and reach the untapped demand of fans around the world,” said Michael Rapino, President and CEO of Live Nation Entertainment.