Germany's Live Earth, which took place on July 7 in Hamburg, recorded a loss of €950,000 ($1.3 million).

Ticket sales generated €1.06 million ($1.46 million), merchandising and sponsoring yielded €190,000 ($262,000), resulting in revenues of €1.25 million ($1.72 million), organizers say.

Of the 45,000 tickets available, 29,000 were sold, 2,500 given away to sponsors and the media, and the remaining tickets were unused.

However, costs amounted to €1.45 million ($2 million), including €80,000 ($110,000) for the artists' accommodation and transport.

"So we ended up with a minus of about €200,000 ($276,000). Additionally, we had to pay in advance an amount of €750,000 ($1.03 million) to the Live Earth organization," comments Thorsten Kausch, managing director of the state-owned organizing company Hamburg Marketing GmbH.

The deficit will be covered by the city of Hamburg.