WEST HOLLYWOOD, CA (CelebrityAccess MediaWire) –Ticketmaster Entertainment, Inc., announced financial results for its third quarter ended September 30, 2009. Revenues for the third quarter were $348.5 million, 3% higher than the prior-year quarter. Ticketing revenues for the third quarter were $292.1 million, down 14% versus the prior-year quarter. Adjusted EBITDA was $59.8 million for the third quarter ended September 30, 2009 compared to $57.3 million for the third quarter ended September 30, 2008. The increase in Adjusted EBITDA was primarily a result of the Front Line acquisition. Excluding Front Line, Adjusted EBITDA was $40.2 million. Adjusted net income attributable to Ticketmaster Entertainment, Inc. was $17.2 million and Adjusted earnings per share was $0.29.
"We are starting to build momentum in our efforts to transform the live entertainment business for fans, performers and our venue customers," said Irving Azoff, Ticketmaster Entertainment CEO. "Paperless ticketing has been received enthusiastically, it's working well and a growing number of accounts are embracing the technology. We're rolling out a number of initiatives that enhance the fan experience, both online and at the shows, and that in the future will greatly improve the transparency of ticket pricing. In the meantime, we're also generating pretty good financial results in a very tough economic environment, and we're excited about the growing slate of concert tours in the planning stages for 2010." –by CelebrityAccess Staff Writers