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Business News Live Business Management & Funding
Live Nation announces bumper Q1 financial results
By Andy Malt | Published on Thursday 8 May 2014
Live Nation Entertainment has announced that its revenues for the first quarter of 2014 were up 22% year-on-year to $1.1 billion (£590 million). The company also reported an 11% increase in concert attendance, with more than nine million people attending 4800 Live Nation-promoted events.
Other areas of the company also helped drive the increase in revenues, with artist management firm Artist Nation increasing its revenues by 44% year-on-year to $73 million (£43 million). Ticketing revenue came in at $355 million (£209 million), up 9%, and sponsorship and advertising income came in at $45 million (£26.5 million) for the first quarter of the year, an increase of 13%.
These increased results follow Live Nation’s also very good 2013 results, which CEO Michael Rapino described to Billboard as “epic”.