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.
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.
