Live Nation Third Quarter Revenues Slip, Income Rises

Q3 Numbers

LIVE NATION ENTERTAINMENT, INC. third quarter revenue fell 2% year-to-year to $3.774 billion (flat on a constant currency basis), with concert revenue off 4% to $3.174 billion (down 3% on a constant currency basis), ticketing up 5% to $388.5 million, and sponsorship and advertising up 26% to $215.2 million. Operating income was up 11% to $260 million, with Adjusted Operating Income also up 11% to $427.1 milion (both up 12% on a constant currency basis). Revenue was up 6% for the first 9 months of the year (8% constant currency) to $8.7 billion.

In a release signed by Pres./CEO MICHAEL RAPINO, the company said that "we are seeing fan spending as strong as ever. In SEPTEMBER, our amphitheater and arena shows actually closed stronger than shows in SEPTEMBER of last year, and our fan spending on-site also showed ongoing growth." Ticket sales for the year-to-date are up 6% at 92 million, with 73 million customers and over 26,000 concerts. Much of the growth, RAPINO wrote, was from international business.

« see more Net News