Live Nation Q2 Revenue, Concert Attendance Up

Good Business

LIVE NATION ENTERTAINMENT reported Q2 revenue up 8%, with concert attendance also up 8%. For the three months ending JUNE 30th, revenue was $1.7 billion; for the first six months of 2013, revenue was $2.6 billion, up 8% compared to $2.4 billion for the same period of 2012.

"We saw continued strong consumer demand for the live business over the past quarter, and further accelerated our top line growth by continuing to build share in our concerts and ticketing businesses," LIVE NATION Pres./CEO MICHAEL RAPINO said. "As a result, we are well on our way to achieving our 2013 goals with strong performance across our core business segments with revenue growth of 8% in the second quarter as compared to last year.  The positive trend in our concert ticket sales from the beginning of the year has continued with concert attendance up 8% for the quarter. Sponsorship & Advertising delivered a 16% increase in revenue during the second quarter driven by new sponsors and improved online activity and TICKETMASTER revenue was up 3% with 2% higher ticket volume.  We strongly believe that the strategies and investments we are implementing today position the company for long-term growth and delivery of our three-year plan."

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