Live Nation has reported that attendance at its concerts worldwide was up 27% year-on-year this summer, resulting in revenues 15% higher than a year ago at $2.26 billion, with revenue increases in the firm's touring, sponsorship and ticketing divisions. And while profits were down 24% to $43.8 million, that included a $36 million charge and exceeded analyst expectations by a margin. Live Nation CEO Michael Rapino said: "Consumer demand has come back strong for us this year, as we have had attendance growth across concerts globally, from new artists to the legends and everyone in between".
Friday 8 November 2013
Live Nation reaps summer success
Live Nation has reported that attendance at its concerts worldwide was up 27% year-on-year this summer, resulting in revenues 15% higher than a year ago at $2.26 billion, with revenue increases in the firm's touring, sponsorship and ticketing divisions. And while profits were down 24% to $43.8 million, that included a $36 million charge and exceeded analyst expectations by a margin. Live Nation CEO Michael Rapino said: "Consumer demand has come back strong for us this year, as we have had attendance growth across concerts globally, from new artists to the legends and everyone in between".
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