HITS Daily Double

Live Nation Year-End Earnings

A NATION OF MILLIONS: Live Nation increased its revenue by 8%, with ticket sales growth of 4% at concerts and 5% for Ticketmaster during its fiscal year 2012, results revealed during a teleconference call this afternoon. Revenue for the three months ending Dec. 31, 2012, was $1,427 million, up 21% over the prior year. Revenue for the full year was $5,819, up 8% from the previous year’s $5,384. So far in 2013, the company has sold 9 million concert tickets for the coing year, a 58% increase from a year ago. Commented Live Nation President/CEO Michael Rapino: “Our ongoing growth in operating profitability was driven by the continued success of our core business of bringing more fans to more events. Looking forward to 2013, I am confident that we will continue that successful growth. I expect another strong year for our Sponsorship & Advertising business as we accelerate our online advertising and continue leveraging our festival base. And no, I can't get you Rolling Stones tickets." (2/26p)