Live Music Revenue Fall 12% In 2011

February 24, 2012 zeri No comments

Concert giant Live Nation Entertainment pared 4th quarter losses, bouyed by strong gains their eCommerce division, which helped to offset a decline in concert sales. According to Q4 financial statements for the 3 months and year ended December 31, 2011, Live Nation posted a Q4 loss of $66.7 million, down from the $86.1 million loss posted in the same period in 2012.

But overall revenue was down by 4.2% to $1.19 billion with concerts leading the loss, sliding from $790 million to $694 million or 12.1% from the same period in 2010.

On the plus side, ticketing revenue was up by 18% or 6% and Live Nation’s continuing investment in eCommerce paid off with a 63% increase in revenue to $41 million against $25 million in Q4 2010.

Free cash as of December 31, 2011 was $334.5 million. Free cash flow was ($20.4) million for the fourth quarter of 2011 as compared to ($12.9) million for the same period in 2010, and $203.1 million for the year ended December 31, 2011 as compared to $164.8 million for 2010.

Live Nation continues to face a challenging economic climate in the U.S. as well as AEG’s new online ticketing system axs. Live Nation has continued to expand overseas, opening new divisions in recent months in a number of Asia/Pacific markets, including Australia, Japan and South Korea.

ReggaeWire

Posted in: categorized

The Vinyl Lounge

Archives