Mid-day Extra: What Live Nation’s earnings mean for music
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.
The head of the company said that their earnings are a sign that after a tumultuous 2010, the live music industry has stabilized and will remain that way into the coming 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.
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