Live Nation has posted $7.7m net profit for its second quarter, or 4 cents a share - 42% down year-on-year.
The live music giant posted $13.3 million net income, or 7 cents a share the year before.
Revenue fell 0.5% to $1.55 billion but rose 2% on a constant currency basis.
The company saw concert and artist marketing revenue decline, offsetting higher ticketing sales.
Concert revenue was down 0.6% to $1.08 billion in the period as ticket revenue rose 1.7% to to $313 million.
The Artist Nation marketing segment posted a 7.8% drop in revenue, whlst revenue from LN's artist management unit fell 8% to $109 million. Sponsorship and advertising revenue dropped 3% to $61 million.
“We are very pleased with the performance of the company in the second quarter, led by a robust concert season with a 6% increase in global concert attendance,” stated Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment.
“Ticketmaster is showing similar strength, with the global ticketing business growing year-over-year with a 6% increase in ticket sales. Sponsorship & Advertising delivered similar results to last year with continued strong margins, driving operating performance.
"Overall, we remain confident in our ability to deliver growth in our core business while we continue to invest in the technology platform, unlocking future growth opportunities with our 200 million transaction base and maintaining our strong leadership position in the marketplace.”
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