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Live Nation Weathers Rough Quarter as Concert Business Slowly Rumbles Back to Life
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variety.comJem Aswad Senior Music EditorWhile tours and festivals for later this year are being announced every day and Live Nation’s stock recently reached an all-time high based on the concert industry’s anticipated return to health, the company’s first-quarter earnings report showed that the concert industry is just beginning to revive, it had a rough quarter — as it had predicted on its last earnings report, and as would be expected.The company’s adjusted operating income loss for the quarter was $152 million, which consisted of $323 million in operational fixed costs and $171 million of contribution margin, which included $149 million from operations.
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