Live Nation tallies rev, earnings gains

Live Nation Entertainment published a 6.3% rise in revenue along with a 20.7% grow in modified operating earnings for that fiscal year ended 12 ,. 31, the organization reported Thursday. In the 4th fiscal quarter -- typically a somewhat slow period for that concert biz -- revenue dropped 4.2% and modified operating earnings slowed down by 10.7%. Within the last fiscal year, LNE's revenue rose to $5.38 billion, up from $5.06 billion this year. Modified operating earnings rose to just about $438 million from $362.8 million the year before. Modified earnings in the company's concert business increased nearly 97% this year, to $30.3 million from $15.4 million the prior fiscal year. Ticketing rose 17.6% to $272.a million, up from $231.3 million this year. The Artist Nation management division rose a slim 1.5% to $47.two million, from $46.5 million the last year. Q4 concert revenue rejected 12.1% to $694.4 million, while ticketing revenue elevated 6% to $323.4 million. Despite flattening 4th-quarter revenue and earnings, LNE leader-Boss Michael Rapino stated inside a statement, "The concert clients are off and away to an excellent begin in 2012, driven with a solid early selection of artists and healthy ticketing demand. We feel the industry has stable and expect the general market atmosphere to become very similar this year, using the fans' adoration for our items mitigating any ongoing economic uncertainty." The organization also introduced Thursday it was entering japan market using the formation of Live Nation Japan, a partnership with Tokyo, japan promotion firm Creativeman. Contact the range newsroom at news@variety.com