Live Nation posts 2017 results

Live Nation had another record year in 2017 for the full year ended on December 31. Revenue were up 24% to $10.3 billion; attendance at the company’s concerts was up 21% to 86 million; and sponsorship and advertising revenue was up 18%. The company’s Ticketmaster unit showed strong growth as well, with its fee-bearing gross transaction value (GTV) up 15%. The company acknowledged a $202 million fourth-quarter loss from its $110 million settlement with Songkick, whose assets it acquired as part. Looking ahead into 2018, LNE confirmed arena, amphitheater and stadium shows through February 19 are up 7% compared to this time last year.  CEO Michael Rapino said “Given our plans to further monetize our fan relationships, I expect this will translate into continued strong growth in concerts operating results in 2018.”

Record year for Live Nation

Live Nation stocks soared to an all-time high following the announcement of record revenues for the sixth consecutive year, climbing above US$30 for the first time. For the 12 months ended 31 December 2016, Live Nation Entertainment saw revenue rise 15% to $8.4 billion.

Operating income was up 48% to $195 million, while AOI (income before acquisition and stock expenses, depreciation and loss/gains from the disposal of assets) climbed 12% to $646m. Concert attendance was also up 12%, to 71 million people, while Ticketmaster increased gross transaction value 16% to $28bn on a constant-currency basis, boosted by posting six of its ten best-ever months in 2016. Rapino said the integration of Ticketmaster into new partner sites, including Spotify and Facebook, led to the sale of 10 million more tickets.

http://www.iq-mag.net/2017/02/record-live-nation-entertainment-turnover-sixth-year/#.WLAdwzuLSM9

EMI makes money but posts a loss

EMI has reported a pre-tax loss of £349 million for the year ending 31 March 2012 after a write down of catalogue assets totalling £372 million and redundancy payments of £37 million pushed the major into the red. After taking these costs into account, underlying earnings were £290 million, and EMI’s operating profit was up to £133 million, prompting EMI boss Roger Faxon to tell staff that the figures represented an "incredibly strong performance... set against the backdrop of a challenging state of the music market and wider economic conditions".

Warner Music saw revenues slip in its third quarter - partly because of currency fluctuations, though with costs down the mini-major was able to reduce its losses overall, to $32 million, compared to $46 million in the same period a year earlier. Digital revenue continued to boom, offsetting the continued slump in physical sales. The major said its digital revenues were up 13% (16% with constant currencies), and now accounted for 41.5% of all recorded music income.