During the first three months of 2011, Live Nation reported that they experienced net losses of $54.3 million. This is partly to blame because of the poor economy, but also because of concert-attendance behavior, with people either waiting for discounts or picking and choosing which concerts they attended. On the bright side, sponsorship revenue and ticketing sales volume have reportedly improved as well (with the later experiencing a 11% gain).
Another bit of good news for Live Nation is that considering 2010’s first three month net loss, this year’s is pretty low. During the first three months of 2010, Live Nation’s net loss was $123 million. By the end of the year, net losses reached $228.3 million. Thus, a net loss of $54.3 million so far gives hope that things might improve even more this year. At the same time, though, $54.3 million is still a hefty price. Plus, with the current state of gas prices and economic struggles, this Summer is still not going to be an easy walk in the park for Live Nation.
With that in mind, we’re curious about something. In the comment section below, tell us whether you are planning to attend three tours or more this coming Summer. If so, which tours are they? If not, why? We’re interested to hear your responses.
