“Live Nation sure made it hard to find the good news in its 3Q report. The basic data looks terrible: It had net income from continuing operations of $63M, down 3.1% from last year’s 3Q, on revenues of $1.79B, down 2.5%. The revenue figure was far less than the $1.91B that analysts expected. And the continuing operations delivered 27 cents a share while analysts forecast 38 cents. So where’s the good news?
The concert business was more profitable than expected, helping the company to deliver adjusted operating income of $203.6M — up 6.8% from last year and beating the $197M that the Street forecast. “It was a huge relief” says Maxim Group’s John Tinker — especially since lots of investors figured the concert business would be one of the first victims of a weakening economy. . .”
Deadline h as the full story.
Fashionentlaw™ is the brainchild of Uduak Oduok (Ms. Uduak), an ex-fashion model and industry veteran turned Fashion and Entertainment lawyer. The law blog discusses hot topics in pop culture arising primarily out of the fashion industry.
As a legal practitioner, Ms. Uduak has seventeen years of experience counseling individuals and businesses within and outside the creative community. She has counseled designers, apparel manufacturers, models, photographers, retailers, graphic designers, musicians, public relations specialists, and athletes, among others, on diverse legal issues including business formation, licensing, trademark and copyright matters, contracts, intellectual property and contract disputes.
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