Summary by TicketNews Staff
Live Nation Entertainment, the world’s largest concert promoter, has reported high earnings for its second quarter due to this summer being one of the best in years for the concert business. The ticketing company, which owns Ticketmaster, reported $1.7 billion in revenue which is up 8.3% from last year’s numbers. Live Nation’s chief executive, Michael Rapino, called the recent company results “a set-up for what looks to be a record summer.” With concert ticket sales up 26% for the year, the concert industry is slowly recovering from the hit it took in 2010 due to the recession which is good news for all companies involved within the industry. Some of Live Nation’s additional success can be attributed to its involvement in the electronic dance genre and their purchase of several concert and festival promoters over the years.
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