Live Nation Entertainment has reported a 10% rise in Q3 revenue from the same period last year, and is predicting a one million rise in ticket sales for the fourth quarter of 2012.
The company took just less than $2 billion in revenue in the third quarter, its net income was $58 million, reports the New York Times.
Lady Gaga's and Madonna's tours are expected to continue the strong performance through the rest of 2012 as well as next year. The company said it had already sold three million tickets in the last month for 2013 events, compared to 900,000 by the same point in 2011.
Attendance at Live Nation’s concerts around the world was 15.8 million for the quarter, up 1.6 percent compared to the same period last year, and 36.8 million for the year to date, up 3.6 percent.
The company, chiefly through Ticketmaster, sold 36 million tickets in the third quarter worth $2.1 billion, generating $82.1 million in adjusted operating income, up 51 percent for the year.
Its sponsorship division had $96 million in revenue, generating $74 million in adjusted operating income, which excludes depreciation, amortization and expenses related to Live Nation’s merger with Ticketmaster in early 2010.