Live Nation revenue declined 1 percent in the second quarter, the company announced Thursday, giving the world's largest concert promoter and ticket seller a rare -- but not unexpected -- hiccup during a period of health in the live event business.
Concert revenue declined 2 percent in second-quarter concert revenue to $1.18 billion. The slight drop wasn't a surprise. Live Nation told analysts and investors in April there had been an increase in early-year arena concerts that effectively placed some events in the first quarter that would normally have occurred in the second quarter.
As a result, arena attendance was down 14 percent in the second quarter but the strong first quarter left arena attendance up 6 percent through June. The second quarter-shift is also evident in 4.2-percent decline in events and the 5.3-percent drop in attendance.