Live Nation tallies rev, earnings gains

Live Nation Entertainment released a 6.3% increase in revenue together with a 20.7% grow in modified operating earnings for your fiscal year ended 12 ,. 31, the business reported Thursday. Within the fourth fiscal quarter -- typically a somewhat slow period for your concert biz -- revenue dropped 4.2% and modified operating earnings slowed down lower by 10.7%. In the last fiscal year, LNE's revenue rose to $5.38 billion, up from $5.06 billion this season. Modified operating earnings rose to nearly $438 million from $362.8 million the prior year. Modified earnings within the company's concert business elevated nearly 97% this season, to $30.3 million from $15.4 million the last fiscal year. Ticketing rose 17.6% to $272.millions of, up from $231.3 million this season. The Artist Nation management division rose a slim 1.5% to $47.2 million, from $46.5 million the this past year. Q4 concert revenue declined 12.1% to $694.4 million, while ticketing revenue elevated 6% to $323.4 million. Despite flattening fourth-quarter revenue and earnings, LNE leader-Boss Michael Rapino mentioned in the statement, "The concert customers are away and off to a great come from 2012, driven having a solid early choice of artists and healthy ticketing demand. We're feeling the has stable and expect the overall market atmosphere being much the same this season, while using fans' desire for our products mitigating any ongoing economic uncertainty." The business also introduced Thursday it had been entering japan market while using formation of Live Nation Japan, a partnership with Tokyo, japan, japan promotion firm Creativeman. Contact the number newsroom at news@variety.com