Live Nation Revs Up In Q2
August 9, 2011 at 1:44 PM (PT)
LIVE NATION ENTERTAINMENT has released financial results for the three and six months ended JUNE 30, 2011.
Revenues were up in Q2 2011 to $ 1,558.9 million from $1,266.7 million in Q2 2010. That's a 23.1% increase.
"2011 has shown solid performance for two quarters, with improved results across most of our key financial metrics, providing the basis for profit growth over the full year. The company is now delivering strong results, with growth driven through increased ticket sales, improved show profitability in Concerts and growth in our advertising businesses," said Pres./CEO MICHAEL RAPINO. "We are seeing the global ticketing business stabilize and concert business grow year-over-year, and we remain optimistic about continued growth opportunities in the industry long term. In addition to delivering this year's results, we remain focused on strategically expanding our global presence, innovating our ticketing platform and maximizing ticket sales, while carefully managing our costs."