Saturday, 15 August 2015
LNE Q2 revenues up, but still posts a loss
Live Nation experienced mixed fortunes in Q2 2015, with revenue rising 12% to $1.86 billion but operating income declining 13% to $48.4m. Concert revenue for the period was $1.34bn, while operating loss was $4.3m. The company says it has sold around three quarters of its projected tickets for the year and is pacing 7% ahead of last year’s sales. Live Nation stages close to 75% of the top 25 global tours, including U2, Imagine Dragons, Lady Antebellum and One Direction. It has also grown per-fan on-site revenue this year by 18% to over $20 per fan, citing sales initiatives, focused on high-end fans for the rise. More on Music Week here.