TM Reports $57M EBITDA

Ticketmaster Entertainment notched a 16 percent rise in revenue as reported Nov. 10 in its third quarter 2008 earnings report.

The company reported revenues of $339.2 million for Q3 compared to $292.5 million for the same period in 2007.

EBITDA is $57.3 million, 16 percent lower than the prior year, which Ticketmaster Entertainment attributes to royalty expense, severance charges and public company costs.

The results do not reflect acquisitions costs of Front Line Management except as recorded with respect to a minority stake held prior to TM’s recent merger with Irving Azoff’s management company.

“While we are pleased to report solid revenue growth for the quarter and year to date, the global macro-economic environment is certainly challenging and its impact on live entertainment in the near-term difficult to predict,” Ticketmaster CEO Sean Moriarty said in a statement.

“Uncertain economic conditions have further reinforced our focus on driving improved efficiencies and profitability through our platforms and businesses around the world, and we have made substantial progress in realizing reduced operating costs going into the final quarter of 2008.”

The company touted its ticketing for the 2008 Summer Olympic Games in Beijing, its strategic partnership with Research In Motion, launch of the NFL Fan Ticket Exchange service and implementation of Paperless Ticket for AC/DC’s current tour.

Ticketmaster Entertainment attributed the rise in revenue to the acquisitions of TicketsNow, Paciolan and SLO Ltd., and 2 percent higher average overall revenue per ticket.