Live Nation Entertainment has reported its third quarter fiscal results, with overall revenue up 9.7 percent to $1.963 billion from $1.790 billion a year ago. Concert revenue grew by 11.7 percent to almost $1.430 billion, with ticketing bringing in $346 million. Net income was $57.9 million, up from $51.7 million a year ago.
Live Nation held 5,182 events worldwide in Q3, down from 5,241 a year ago. Estimated attendance was up to 15,813,000 around the world.
"The company has continued to execute on plan delivering increased revenue, net income and free cash flow in the third quarter of 2012," stated Michael Rapino, President/CEO of Live Nation Entertainment. "For the quarter, global concert attendance is up 2 percent and ticket sales for Ticketmaster increased 3 percent. We expect to have continued growth in ticket sales in the fourth quarter, as compared to last year, for both Concerts and Ticketmaster. As a result, we currently anticipate growth across Concerts, Ticketing and Sponsorship & Advertising for the fourth quarter and full year."