Live Nation Entertainment pulls $6.5 billion in revenue, reports biggest year to date
Live Nation Entertainment announced on Monday that it has set a record in 2013 for annual revenue and operating income due to an increased attendance in live shows. In 2013, Live Nation reported an 11-percent increase in revenue to $6.5 billion and operating income rose to $140 million. This news comes after reporting a loss of $22 million in 2012. Throughout 2013, concert attendance increased by 19-percent, making Live Nation the lead promoter in a whopping 21 of the 25 highest grossing tours in North America.
“We increased both attendance and attendance per show at every type of venue, from theaters and clubs to amphitheaters to arenas and stadiums, showing the consistent strength of our business,” Live Nation said Monday. “We are also seeing this growth across all genres of music, with country music delivering the greatest fan growth, up 2.3 million fans to nearly 7 million, increasing 50 percent from last year.”
Via: Billboard Biz