Live Nation profits plunge

Live Nation's profits for the second quarter of 2012 were down by 42% after net income fell from $13.3 million to $7.69 million. Concert turnover was marginally down ($1,.076 billion compared to $1.086 billion in Q2 2011), but concert attendance was up at 9.27 million, ticket revenues marginally up by 1.7% to $313 million and management income at Frontline dropped 7.8% to $109 million.  LNE recently announced that it had acquired UK based Cream Holdings and the Creamfields brand, and US based Hard Events which specialises in electronic dance music,  and also announced expansion into the festival market in South East Asia.