Global ticket sales rose 8 percent in 2008, but Live Nation’s earnings report for the first quarter of 2009 showed losses of $102.7 million. In the UK, live music sales surpassed recorded music, yet Live Nation reports a 22 percent drop in attendance of live shows.
The anticipation that live performances would continue to grow in sales, or even try to compensate for losses in physical sales is deeply shaken. Live Nation President and CEO Michael Rapino doesn’t think there’s a problem:
Read more...“Our first quarter results were in line with our plan and, despite challenging economic times, fans are buying concert tickets at a healthy pace.”
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