This Week In: Live Nation

Nov 10

Ticketmaster, Live Nation See Q3 Revenue Growth

As Ticketmaster and Live Nation await their merger approval from antitrust officials, both companies posted solid financial results for the third quarter of 2009. Live Nation said Monday that its net income fell by half to $69 million, but better sales of concert tickets sent revenue up 14 percent to $1.81 billion, which is up from $1.59 billion a year ago. Adjusted operating income of $160.8 million was up sharply from $109.5 million, and free cash flow of $123.2 million was nearly double the $64.4 million reported for the same quarter last year.

  • It's interesting that Live Nation CEO Mike Rapino doesn't address the merger at all. At least Ticketmaster's CEO, Irving Azoff, alludes to it: "We're rolling out a number of initiatives that enhance the fan experience, both online and at the shows, and that in the future will greatly improve the transparency of ticket pricing."
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