Mid-day Extra: What Live Nation’s earnings mean for music
Share Now on:
Quarterly earnings from Live Nation came out yesterday — that’s the music and ticketing giant that is responsible for a lot of the big summer tours across the country.
Although they posted a bit of a revenue loss last quarter, their net income was actually up. And profits so far this year are positive, after a $100 million plus loss in the same period last year.
In today’s Mid-day Extra, we ask: are things really looking up for the music business?
For answers, we went to MTV News reporter Jocelyn Vena.
She said that in part, sales were up because of the stellar summer concert season, and that those who put on the shows are also more conscious about trying to keep prices reasonable for fans.
And despite the fact that this quarter, numbers could be down again — due in part to losses on the Ticketmaster side of the business resulting from the NBA lockout — 2012 could be an even bigger year for concerts.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.