Live Nation Entertainment has reported its Q1 results for 2013, with revenue up 6.4 percent to $923.7 million, surpassing Wall Street's expectations. Concert revenue was up 14.4 percent to $513.5 million. Live Nation still reported a net loss in Q1 '13 of $63.2 million, down from its $69.2 million net loss a year ago.
During the quarter, Live Nation put on 4,880 events worldwide with a total estimated audience of almost 8.1 million people. In Q1 2012, there were 4,805 events with approximately 7.2 million in attendance.
"We are pleased with our first quarter revenue growth of 6% as compared to last year, driven by a 12 percent increase in concert attendance. This good start to the year reaffirms the strength and stability of our platforms heading into 2013, and through April 2013, our concert ticket sales for all events this year are up 26 percent and Ticketmaster ticket counts for events in 2013 are up 8 percent relative to this point last year," said Michael Rapino, President/CEO of Live Nation Entertainment. "These ticket volumes, along with the progress on our strategic initiatives across Concerts, Sponsorship & Advertising and Ticketing give us even greater confidence we will deliver our overall growth plans for 2013."