Live Nation Expanding Into Russia
Live Nation Expanding Into Russia

Live Nation says its losses shrank in the first three months of the year as the concert promoter boosted sales of tickets to concerts and sporting events through apparent price cuts.

Live Nation Entertainment Inc. said Thursday that its net loss shrank to $48.5 million, or 27 cents per share, from a loss of $122 million, or 83 cents per share, a year ago.

Revenue rose 17 percent to $849 million from $723 million a year ago.

Concert ticket sales volumes were up 13 percent while revenue increased only 10 percent - an indication that lower ticket sales were helping to drive volume.