Wednesday 6 November 2013, 11:51 | By Chris Cooke
Live Nation’s concert attendance and revenue figures up this summer
So, despite some wobbles here and there, the summer of 2013 proved to be good for the live music business, if the latest financials from Live Nation are anything to go by.
The live giant has reported that attendance at its concerts worldwide was up 27% year-on-year this summer, resulting in revenues 15% higher than a year ago at $2.26 billion, with revenue increases in the firm’s touring, sponsorship and ticketing divisions. And while profits were down 24% to $43.8 million, that included a $36 million charge on extinguishment of debt, and exceeded analyst expectations by quite a margin.
Live Nation boss man Michael Rapino told reporters: “Consumer demand has come back strong for us this year, as we have had attendance growth across concerts globally, from new artists to the legends and everyone in between”.