LN Releases Full Year Report
Live Nation continues to head in the right direction, with its full-year report showing a narrower operating loss and revenue growth.
The company cited increased concert attendance during in its Feb. 24 full-year and fourth-quarter earnings reports. Live Nation had an operating loss of $51 million compared with $126.3 million from a year earlier.
Minus some items like depreciation and amortization, Live Nation’s adjusted operating earnings for 2013 were $71.3 million, which is higher than $62.5 million from 2012. Revenue increased 12 percent to $1.61 billion, which beats analysts expectations by $15 million.
Concert revenue rose 18 percent to $1.08 billion and sponsorship and advertising revenue rose $15 percent despite an income loss from its management division where 14 artists have migrated.