Friday, 1 May 2015

Live Nation's revenue in Q1/15 down 0.6%

Live Nation’s revenue for the first quarter of 2015 fell year-on-year, but the company recorded growth in a number of areas. Revenue was down 0.6% to $1.12 billion for the three months ending March 31, but increased 4% on a constant currency basis, led by strong growth in its ticketing business, while sponsorship and advertising revenue rose by more than 20% in both categories. Net loss more than doubled to $66.5 million from $30.2 million. The firm is staging around 20 of the top 25 global tours, including U2, Maroon 5 Luke Bryan and Ariana Grande and Live Nation president and CEO Michael Rapino said: “2015 is shaping up to be another year of growth and record results for the company, and we remain confident we will deliver the final year of our three-year plan."

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