(Updated) Losses grew at Live Nation last quarter as the company absorbed the cost of its January 25th merger with Ticketmaster, a drastic drop in income from Tickets Now and faltering concert attendance.
The company claims that the merger will eventually save $40 million in redundant costs. But that won't help much if ticket sales continue to fall. Last year they dropped 3% to 6.8 million from 7.1 million in the previous year while total spending per concert goer grew 2% to $59.71 from $58.57.
Source http://www.hypebot.com
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