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Live Nation Q1 Revenues Jump $72 Million (not Clear Channel)

Live Nation, the world’s largest concert promoter and live event producer, rang up $516.6 million in revenues for the first quarter of 2006, an increase of $72.1 million, or 16%, over Q1 2005…..Live Nation’s positive Q1 numbers parallel an uptick in the overall concert business, as evidenced by a 28% increase in concert grosses reported to Billboard Boxscore in the first quarter.” [Billboard]

The increase in their “domestic music revenue is primarily due to an increase in the number of events by artists such as Billy Joel, Coldplay, Aerosmith, Toby Keith and Rascal Flatts, principally in third-party arenas.”

I actually thought Live Nation was synonymous with Clear Channel, but Wikipedia says that “On December 21, 2005, Clear Channel completed the spin-off of Live Nation, formerly known as Clear Channel Entertainment. Live Nation is now an independent company and is no longer owned by Clear Channel.”

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