A NIGHT ON THE TOWN: Live Nation’s strategy of scaling back the number of shows, lowering ticket prices and trimming service fees appears to be paying off thus far this year, as the concert power has rebounded from a $104-million loss a year ago to a $16.5 million profit for the first nine months of 2011. Although revenue was down 2.5% to $1.79 billion in the quarter ended Sept. 30, net income improved 1.4% to $51.7 million. The company's adjusted operating income, which excludes acquisition and other expenses, was $203.6 million for the third quarter, narrowly beating analysts' expectations of $202 million. "Live events are a strong…consumer proposition, despite the tough economic times," LN chief Michael Rapino told analysts during a discussion of the company's Q3 results Thursday. In a statement, he added, "We believe the stabilization of consumer demand for live events will continue into 2012." Analyst David Joyce offered a positive appraisal of the concert business to the L.A. Times: "This demonstrates that, in good times or bad, people still go to at least one concert a year." (11/4a)
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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