The concert promoter reported an adjusted operating loss of $431.9 million on net revenue of $74.1 million in Q2 of 2020. The coronavirus pandemic has shut down concerts across the world, amounting to hundreds of millions of dollars in losses for promoter Live Nation last quarter.
The touring giant posted an adjusted operating loss of $431.9 million on net revenue of $74.1 million in the second quarter of 2020 -- the first full reporting period of the pandemic.
The concerts division’s $141.8 million of revenue was 95% lower than the $2.64 billion in Q2 2019. Ticketing’s negative revenue of $87 million, along with $18.4 million from sponsorships and advertising, gave Live Nation net revenue of $74.1 million -- 98% lower than the $3.16