We Got The Beat

In 2010, ticket broker Live Nation Entertainment suffered a 15% decline in ticket sales, and that's when the economy was picking up. Contrary to thinking that a slowing economy would mean even worse ticket sales, Live Nation reported a strong resurgence in sales for the second quarter, with $1.6 billion in revenue, up 23% from the same period in 2010, and net income of $16.6 million, up from a loss of $31.2 million last year. Its operating income also increased by nearly 42%, to $54.7 million.

Live Nation noted it changed pricing policies this year to attract more consumers and the discount plan worked. Attendance for its events in North America, which was hardest hit last year, was up about 13% to 8.9 million; outside North America, attendance dropped slightly, falling about 6% to 4.2 million. Hard to say whether that means the economy is turning around, or that $100 per ticket for a show by aging rockers represents a staycation treat in a time of making do with less.