(Reuters) -Ticketmaster-parent Live Nation reported a rise in third-quarter revenue on Tuesday, helped by demand for concerts and festivals.

Fans are spending on immersive live entertainment despite economic headwinds, benefiting Live Nation, which is a bellwether for discretionary spending across the entertainment industry.

"Strong fan demand drove another record quarter, as we continue to attract more fans to more shows globally," CEO Michael Rapino said in a statement.

Rapino added that 2026 is off to a strong start, driven by a double-digit increase in the large venue show pipeline and increased sell-through levels for these shows.

The Beverly Hills, California-based company said ticket sales for Live Nation concerts in 2026 have reached 26 million, up double digits overall.

The company reported third-quarter revenue of $8.50 billion, compared with $7.65 billion, a year ago. Analysts on average were estimating $8.57 billion, according to data compiled by LSEG.

Live Nation's concert business, which accounts for the majority of its overall revenue and includes merchandise sales and production of live music events, generated $7.28 billion in the quarter, below analysts' expectations of $7.67 billion.

In the quarter, ticket sales reached an estimated total of about $797.6 million, above analysts' estimates of $793.2 million.